NASHVILLE, Tenn. - Jan 7, 2019 (BUSINESS WIRE) --Vatica Health, the leader in provider-centric risk adjustment and clinical quality solutions for health plans and risk-bearing entities, today announced it has closed on its acquisition of CareSync’s technology.
Since its founding in 2011, CareSync had raised over $50 million to develop a best-in-class technology platform for coordinating care and improving outcomes of people suffering from chronic conditions. Vatica will incorporate CareSync’s technology to broaden its payer and provider product offerings.
“This acquisition accelerates Vatica’s vision to create a robust platform leveraging proprietary technology combined with clinical teams to deliver value-based care, improve quality measures, and optimize financial results,” said Hassan Rifaat, MD, Chief Executive Officer of Vatica Health. As part of the transaction, a number of former CareSync employees have also joined Vatica.
Great Hill Partners purchased a majority stake of Vatica in April 2018, and the acquisition of CareSync’s intellectual property represents Vatica’s first transaction under Great Hill ownership.
“We are grateful for the strong support from our majority investor, Great Hill Partners. With their capital commitment and financial support, we will remain highly active pursuing M&A opportunities focused on expanding our innovative solutions for both payers and providers,” commented Steve Zuckerman, Vatica’s Co-Founder and Chief Strategy Officer.
Based in Nashville, Tennessee, Vatica Health is an innovative healthcare technology company that has developed a unique blend of proprietary technology and clinical teams that enable providers and payers to thrive in value-based care. Vatica’s platform represents the next generation of risk adjustment, quality of care, and quality of coding. Vatica is a fast-growing company solving today’s most complex healthcare problems with a talented team of disruptors, inventors and change agents who are not satisfied with the status quo and strive to make a difference. For more information, visit www.vaticahealth.com.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised over $5 billion in commitments since inception to finance the acquisition, recapitalization, or expansion of growth companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to $200 million. For more information, visit www.greathillpartners.com.