Company Description
Verisys is a leading provider of technology solutions and primary-source data on healthcare professionals and businesses. The Company delivers market-leading screening, verification, monitoring and credentialing solutions to help organizations maintain regulatory compliance, standards compliance, and effective corporate governance, as well as mitigate legal, reputational, and financial risks. Verisys' core data offering, Fraud and Abuse Control Information System ("FACIS"), comprises data from more than 3,500 primary sources and is used universally by the largest healthcare providers, payers, pharmacies and background employment screening companies.
Objectives
TripleTree was engaged by Spectrum Equity and Cressey & Company as exclusive financial advisor to help assess Verisys’ market opportunity and growth prospects, including organic and inorganic expansion opportunities. TripleTree leveraged its industry knowledge and relevant transaction experience to provide strategic insights and recommendations on the investment opportunity.
Results
Spectrum Equity and Cressey & Company reached an agreement to partner with Verisys’ management team to help accelerate the Company’s platform and product investment initiatives and execute on a highly successful growth strategy. Verisys is a perfect fit for the partnership of Spectrum Equity, given the firm’s experience backing vertical market leaders in both regulatory compliance information services and healthcare technology sectors, and Cressey & Company, who is exclusively focused on building leading health care provider, service and information technology businesses.