Blue Heron Capital said Monday has completed an investment in Tricast Inc. Financial terms weren’t announced. Brook Venture Partners also invested. Milwaukee-based Tricast is a healthcare IT company focused on pharmacy benefit data monitoring and analytics.
RICHMOND, Va.–(BUSINESS WIRE)–Blue Heron Capital is pleased to announce it has a closed an investment in TRICAST, Inc., a healthcare IT company focused on pharmacy benefit data monitoring and analytics. Brook Venture Partners of Wakefield, MA participated in the investment.
“This is an exciting next step in the evolution of TRICAST,” said CEO Greg Rucinski. “The support of our investors will enable us to increase our pace of growth, accelerate our Reveal™ development efforts and devote more resources to providing an outstanding customer experience.”
TRICAST is the developer of the first real-time pharmacy benefit data monitoring and analytics solution targeting compliance with CMS regulations and a reduction of fraud, waste and abuse, a more than $250 billion annual cost in the US healthcare system. This investment provides the necessary capital for TRICAST CEO, Greg Rucinski, to develop new modules for their SaaS software platform and expand the sales and onboarding team to drive additional growth.
Andrew Tichenor, Partner at Blue Heron Capital adds: “We are seeing a historic change in healthcare and believe costs must be contained. Through our operational expertise, Blue Heron Capital looks forward to helping TRICAST identify and remedy the significant fraud and waste that occurs in the pharmacy benefit space.”
TRICAST is a pharmacy data analytics company utilizing industry expertise and powerful software tools to empower its clients to make decisions that lower their healthcare costs and efficiently manage their pharmacy benefit programs. TRICAST is headquartered in Milwaukee and serves clients nationwide.
About Blue Heron Capital
Blue Heron Capital is an operationally focused lower market private equity firm based in Richmond, Virginia. Blue Heron supports portfolio companies with a team of proven industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses. The firm invests in buyout and growth equity opportunities in the healthcare, security, and business services industries.