November 25, 2013
GREENWICH, CT and PORTLAND, ME — iVantage Health Analytics (“iVantage”), a Great Point Partners II, (“GPP”) portfolio company and a leading provider of health analytic solutions, announced today that it has acquired Xylem Consulting, Inc., a strategic advisor to hospitals.
Xylem Consulting, Inc. specializes in bundled payment and risk-based contract negotiations, strategy development and optimal pricing of health services. The firm was founded by Jack Wolf, CPA, MHA, and provides data-driven financial decision-making support to large hospital systems, academic medical centers, community hospitals and ancillary health care providers. The addition of Xylem complements iVantage’s recent acquisition of Professional Data Services (PDS) and enables clients to leverage both robust business intelligence and advisory services to drive contract negotiations and combat the eroding margins associated with the health care reform reimbursement mandates.
“I’m thrilled to have Xylem join iVantage and be able to tap its robust portfolio of actionable analytic services to further assist hospitals in creating a healthier bottom line,” commented Wolf. “Joining iVantage, we can now further empower our clients with a centralized financial, strategic, operations and compliance platform and improve their contract negotiations with any at-risk entity.”
Brett Carlson of Great Point Partners commented, “Xylem Consulting is the 2nd tuck-in acquisition completed by iVantage this year, and is consistent with our strategy to complement iVantage’s strong technology capabilities with an equally strong services offering.”
About Xylem Consulting, Inc.
Xylem Consulting, Inc. provides strategic advisory services to hospitals nationwide. The firm has a proven track record of working with hospitals to achieve their contracting goals. The firm understands how to manage the data and prepare hospitals for successful negotiations. Established in 2007, Xylem supports hospital decision-makers on the development of managed care portfolio strategies and pricing targets and achievement of successful payor negotiations.
About iVantage Health Analytics
iVantage is a leading provider of health care informatics and business analytics solutions that transform complex data into actionable business intelligence. Its VantagePoints™ platform is used by hospital management teams to drive empirical and evidence based decision making. These products are positioned to meet the needs of a today’s health care market, which requires meaningful data to support new compliance based requirements and the operational challenges of the Patient Protection and Affordable Care Act (“PPACA”). In May of 2013, iVantage received a significant equity investment from Great Point Partners.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management and 23 professionals. GPP is currently making new private equity investments from GPP II, which has closed on approximately $200 million in commitments. Great Point manages capital in private (GPP I, $156 million and GPP II) and public equity (BMVF, approximately $300 million) funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203.971.3300 www.gppfunds.com.