iContracts buys PolicyStat

iContracts, a portfolio company of Susquehanna Growth Equity, has acquired PolicyStat LLC. Financial terms weren’t announced. PolicyStat, of Carmel, Indiana, provides cloud-based policy lifecycle management solutions.

PRESS RELEASE

Bridgewater, NJ – May 4, 2017 ‐ iContracts, a leading provider of cloud‐based contract, compliance, and revenue management solutions has acquired PolicyStat, LLC, a Carmel, Indiana‐based, industry-leading provider of cloud-based policy lifecycle management solutions.
The combination of the two rapidly growing companies creates a unique entity focused on helping companies manage the most critical aspects of any business – revenue management, contract management, and compliance across these and many other high-risk business processes – serving over 900 clients across life sciences, healthcare, higher education, manufacturing, and other industries. Existing investor Susquehanna Growth Equity, LLC (SGE), provided financing to complete the acquisition.

Founded in 2007, PolicyStat’s solution increases productivity while simultaneously enhancing quality and compliance management. PolicyStat’s completely cloud‐based offerings enable short customer deployment timelines by both minimizing IT staff involvement and providing vital implementation services.

“We are very excited to join forces with iContracts,” noted Steve Ehrlich, President of PolicyStat. “Together, we will deliver our customers a cloud‐based suite of compliance offerings second to none. iContracts delivers a proven cloud-based contract management solution – something we are often asked about; PolicyStat delivers a cloud‐based policy management solution – something they are often asked about. This combination also gives our employees real prospects for career growth as we expand our market presence and grow our product offerings. This is a great day for all of our stakeholders.”

“PolicyStat is a true gem of a company, founded on the principle of always doing what’s in the best interest of the customer, and remaining true to that tenant for the past decade,” commented Leigh Powell, Chief Executive Officer of iContracts. “In addition to being customer focused, PolicyStat has done a spectacular job of fostering an environment for employees that values teamwork, respect, and dedication, attributes that have fueled incredible product innovation, customer responsiveness, and rapid company growth as clearly reflected in an extremely satisfied customer base currently in excess of 1,100 facilities. We welcome the employees and customers of PolicyStat to the iContract’s family and look forward to growing together.”

About iContracts

iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with considerable and unique experience in building contract management solutions. This deep understanding and straightforward approach shows in everything we do. Our solutions are enterprise‐class and can be quickly and easily integrated with any off‐the‐shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.

About PolicyStat

PolicyStat provides industry‐leading policy management software for the healthcare market with customers including hospitals, labs, ambulatory surgery centers, integrated health networks, and a host of other facility types across several markets. PolicyStat’s cloud‐based application helps increase productivity, enhance quality of care and ensure compliance. As a true Software‐as‐a‐Service (SaaS) offering, PolicyStat’s policy lifecycle management offering delivers enterprise‐class availability and is accessible on any internet‐connected device. PolicyStat also provides comprehensive implementation services to enable short customer deployment timelines with minimal IT staff involvement. For more information, please visit our website at www.policystat.com.

About Susquehanna Growth Equity, LLC

Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology companies in the software, information services, and internet sectors. The firm is backed by a unique and patient capital base that allows management teams the freedom and flexibility to maximize growth. Notable prior investments include iCIMS (leading SaaS talent management solution), MMIT (formulary data and workflow applications to payers, pharmaceutical manufacturers, providers, and pharmacies), and HMP Communications (live events, content, and continuing education for healthcare practitioners). To learn more, please visit us at www.sgep.com.