United Claim Solutions, which is backed by Great Point Partners, has acquired Tampa, Florida-based INETICO, a provider of health care cost containment services. No financial terms were disclosed.
GREENWICH, CT AND PHOENIX, AZ (PRWEB) AUGUST 17, 2017
Great Point Partners (“GPP”) today announced that United Claim Solutions (“UCS”), a GPP II portfolio company, has acquired Tampa, Florida-based INETICO. INETICO focuses on providing health care cost containment services to self-funded, third party administrator (“TPA”) and stop-loss clients across the United States and Puerto Rico. The addition of INETICO brings additional resources and capabilities to UCS and will augment its suite of payment integrity solutions.
“UCS’ acquisition of INETICO expands our service offering and further deepens our commitment to the highest level of customer service when addressing our clients’ needs,” Josh Carder, CEO of UCS, stated. “The addition of INETICO brings us a great team, led by Founder, CEO, and industry veteran, Joe Hodges. Joe has a record of exceptional service, products and quality in the payment integrity industry.”
“UCS and INETICO joining forces will help drive innovation in the payment integrity market. The addition of INETICO will add care management and new repricing services to UCS, and will help UCS continue to drive down health care costs for our clients,” added Noah Rhodes, Managing Director at Great Point Partners.
“We believe that together, our two companies will create a leader in payment integrity solutions. Our goal is to work with our self-insured, TPA and stop-loss clients to create a one-stop shop for their cost containment needs. UCS’ savings rates and innovative solutions combined with INETICO’s care and negotiation services will be a driving force in the industry,” commented Joe Hodges, Founder of INETICO.
In conjunction with this acquisition announcement, UCS is also unveiling NX Health Network, its high-performance custom network solution for self-insured groups that reduces medical costs and increases patient and provider satisfaction. For more information on NX Health Network, please visit http://www.nxhealthnetwork.com/ or call (800)-834-2312
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 $1 billion of equity capital under management and 28 professionals, investing in the United States, Canada and Western Europe. GPP is currently making new private equity investments from GPP II, a $215 million fund. Great Point Partners manages capital in private (GPP I, $156 million and GPP II, $215 million) and public (BioMedical Value Fund, approximately $600 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, services, outsourcing, pharmaceutical infrastructure and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. For further information, please contact Great Point Partners at 203-971-3300 or http://www.gppfunds.com.
About United Claim Solutions
United Claim Solutions (“UCS”) is an innovative payment integrity solutions company providing cutting edge and customizable solutions for TPAs, self-insured groups, labor and trust organizations, stop-loss carriers and health plans. Since its founding in 2004, UCS has placed emphasis on quality and efficient service, optimal savings and timely solutions for its clients. UCS provides payment integrity services in all 50 states, bringing innovative solutions to its clients to generate additional savings, support their client retention and facilitate their business growth. For further information, please contact UCS at 866-762-4455 or http://www.unitedclaimsolutions.com.