Citra Health Solutions, a portfolio company of Great Point Partners, has acquired Portland, Oregon-based DataWing Software LLC, a provider of technology products. No financial terms were disclosed.
PRESS RELEASE
GREENWICH, CT and RALEIGH, NC – Great Point Partners’ portfolio company, Citra Health Solutions (“Citra”), a trusted provider of benefit administration technology solutions and care management services, has acquired Portland, Oregon based DataWing Software LLC (“DataWing”). Together, Citra and DataWing will provide a comprehensive suite of technology products to value-based care providers.
For over 25 years, DataWing has offered software to help Managed Service Organizations (MSOs), Independent Physician Associations (IPAs), and other healthcare providers improve efficiencies and increase profitability. DataWing’s offering integrates with claims adjudication systems (including Citra’s EZ-CAP) to create additional value-added solutions. Additionally, DataWing products help healthcare providers obtain data from payor organizations to confirm the eligibility of patients to receive reimbursement for care. The acquisition of DataWing will extend Citra’s EZ-Suite set of software technologies and augment Citra’s capitation and eligibility management product offering.
“DataWing provides Citra with a complementary technology and service offering and a team with deep domain expertise,” said Scott Sanner, CEO of Citra Health Solutions. “The acquisition will enhance and strengthen Citra’s go-to-market strategy and offer our client base additional products to help with efficiency and cost savings.”
Jerry Porter, the founder of DataWing added, “I am excited for DataWing to become a part of Citra. Citra has been a valued partner for the last 25 years and we believe we will be able to successfully leverage our complementary customer bases and technology solutions to provide a more robust EZ-CAP platform together.”
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 $1.1 billion of equity capital currently 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, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital) and public (BioMedical Value Fund strategy, approximately $750 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, outsourcing and alternate site care, 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. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Citra Health Solutions
Citra provides a one-contract, connected solution for clinical, financial and administrative requirements. Solving for the needs of providers, payers, health systems and employers in the transition to value-based care, Citra empowers clients with proven technology, population health, analytics, care management, and administrative services to lower the cost of care and improve quality. Citra currently serves 6 of the top 7 Health Plans, 7 Fortune 500 Companies, 50+ IPAs and MSOs managing commercial, Medicare and Medicaid populations, and 100+ Provider Groups, Hospitals, Universities and Integrated Delivery Networks throughout the United States and in Puerto Rico.
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