GTCR and Cedar Gate Technologies Announce Acquisition of Global Healthcare Alliance

Acquisition Creates Leading Provider of Value Based Care Technology and Analytics

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Oct 29, 2018, 14:00 ET

CHICAGO, Oct. 29, 2018 /PRNewswire/ -- GTCR, a leading private equity firm, announced its Cedar Gate Technologies ("Cedar Gate") management partnership with CEO David Snow has acquired Global Healthcare Alliance ("GHA" or the "Company"). GHA is a leading provider of SaaS technology & technology-enabled services to health systems, provider groups and self-insured employers, enabling them to develop, manage and adjudicate bundled payments arrangements with payors.

The acquisition of GHA is another example of how GTCR executes The Leaders Strategy™. In 2014, GTCR formalized a partnership with Mr. Snow to create Cedar Gate and pursue a strategy of building a market-leading healthcare technology company. Mr. Snow is a 30+ year healthcare industry veteran, having previously served as Chairman and CEO of Medco, one of the nation's largest pharmacy benefit managers. During Mr. Snow's tenure, Medco's revenue grew from $34 billion to over $70 billion before its eventual sale to Express Scripts in 2012. Prior to joining Medco, Mr. Snow served in various executive leadership roles throughout his career, including at Empire BlueCross BlueShield and Oxford Health Plans. Under Mr. Snow's guidance, Cedar Gate has developed a proprietary SaaS analytics suite, ISAAC™, that enables healthcare providers, payors and self-insured employers to evaluate the cost and quality of care within their healthcare delivery network.

Established more than 20 years ago, GHA developed a proprietary SaaS claims adjudication technology, Axia™, that automates the conversion of fee-for-service claims into a single, bundled claim, and facilitates and manages payments between payors and providers. It enables healthcare entities to successfully manage prospective bundled payment programs for multiple clinical specialties. It has processed over 2.25 million distinct bundles since inception.

Dean Mihas, Managing Director at GTCR, added: "This investment demonstrates GTCR's continued commitment to The Leaders Strategy™, as we find ways to partner with talented and experienced executives. We look forward to supporting Dave and the Cedar Gate and GHA teams as the combined Company continues into the next chapter of its growth."

"The acquisition of GHA and its proprietary Axia technology platform is an ideal addition as we build Cedar Gate into a complete value based care software and analytics solution for payors, providers, and self-insured employers," said Mr. Snow. "With the acquisition we have become a leading provider of prospective bundled payment solutions, and can help clients design, contract, manage and adjudicate bundled payments."

"As bundled payments continue to increase in prevalence, we expect GHA to continue to be a leader in assisting payors and providers with the shift to value based care," added Sean Cunningham, Managing Director at GTCR. "With GHA's differentiated SaaS technology and Cedar Gate's SaaS data analytics suite, we will be able to provide unique solutions for risk taking customers."

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Cedar Gate Technologies

Cedar Gate Technologies (CGT) is a value-based care performance management analytic company founded in 2014 by David B. Snow Jr., a nationally recognized Fortune 50 healthcare CEO, in partnership with GTCR, a leading Chicago based private equity firm. CGT provides advisory, administrative, and technology solutions to providers, payers and self-insured employers at risk for the healthcare dollar and transitioning from fee-for-service to value-based care. It is the only value-based performance platform with a workflow implementation capability, Playbook. Through its acquisition of Global Healthcare Alliance (GHA), it can now provide clients with the analytic capability and systems they need to design, contract, and manage the performance of any type of value-based care alternative payment model, including prospective bundled payments. For more information about Cedar Gate please contact 203.930.5504 or visit www.cedargate.com.

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SOURCE GTCR