NEWS

TripleTree Advises Growth Investment in Verisys, led by Spectrum Equity

MAR 14, 2017
MINNEAPOLIS – March 14, 2017 – TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in health care, is pleased to announce that it advised Spectrum Equity and Cressey & Company in their growth investment of Verisys Corporation. Verisys addresses the complex requirements facing today’s health care industry and enables its clients to maintain regulatory compliance and mitigate legal, financial and reputational risks.
 
"Verisys is known industry-wide as the clear market leader in providing health care regulatory compliance data and solutions. The company is well positioned to take advantage of the continued focus on fraud, waste and abuse within the health care industry  and expand its customer base which today consists of the largest health care providers, payers, pharmacies and background employment screening companies," said Jeff Haywood, Principal at Spectrum Equity. “TripleTree’s strategic insights, industry knowledge and investment banking expertise were instrumental in helping us complete this transaction.”
 
“Health care providers face a broad set of compliance demands that span clinical, financial, administrative, and human capital functions, with the potential for severe penalties for non-compliance.  Verisys stands out as a market leader among a fragmented landscape of point solution providers,” said Michael Hughey, Senior Director at TripleTree. “The growth investment in Verisys creates a significant opportunity to accelerate platform and product investment initiatives in support of the Company’s highly successful growth strategy.”
 
TripleTree acted as the exclusive financial advisor to Spectrum Equity and Cressey & Company for this transaction.
 
About TripleTree
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in health care. For more, visit www.triple-tree.com.
 
About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For more than 20 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading internet, software and information services companies. Representative investments include Ancestry, Bats Global Markets, GoodRx, Grubhub, ITA Software, lynda.com, SurveyMonkey, Verafin, and World-Check. For more information, visit www.spectrumequity.com.
 
About Cressey & Company
Based in Chicago, IL and Nashville, TN, Cressey & Company LP is a private investment firm focused on building leading health care provider, service and information technology businesses. With a history spanning nearly 35 years, the Cressey & Company team is one of the most experienced and successful in the health care private equity field.  For more information, visit www.cresseyco.com.
 
About Verisys
Verisys' mission is to serve the health care sector with accurate and timely data on persons, professionals and businesses (for contracting, privileging, employment, reimbursement and referral validation). Verisys solutions ensure regulatory compliance and prevent health care waste, abuse and fraud. Verisys' products and services include provider data and content, credentialing, primary-source verification services, screening - monitoring and notification services, identity/authentication tied to credentials management and regulatory compliance products and services. Verisys' flagship product, FACIS®, is the gold standard for exclusion screening in the health care field and its SaaS credentialing platform, exclusively endorsed by the American Hospital Association, CheckMedic®, represents a breakthrough in credentialing. Verisys is a NCQA certified and URAC accredited Credentials Verification Organization.
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