M&A Deal Summary

eSolutions Acquires RemitDATA

On August 11, 2017, eSolutions acquired information technology company RemitDATA from SSM Partners

Acquisition Highlights
  • This is eSolutions’ 1st transaction in the Information Technology sector.
  • This is eSolutions’ 2nd transaction in the United States.
  • This is eSolutions’ 1st transaction in Tennessee.

M&A Deal Summary
Date 2017-08-11
Target RemitDATA
Sector Information Technology
Buyer(s) eSolutions
Sellers(s) SSM Partners
Deal Type Add-on Acquisition

Target

RemitDATA

Memphis, Tennessee, United States
RemitDATA is a healthcare technology company that delivers a comprehensive comparative data and analytics platform. Founded in 2000, with offices in Memphis, TN, Plano, TX and Lexington, KY, RemitDATA strives to bring collaboration and 360-degree data transparency to all entities within the healthcare industry by delivering a range of system agnostic, comparative analytic solutions. Through the use of Application Programming Interfaces (API), benchmarking and peer comparison tools, payers, providers, billing companies and other healthcare companies will gain actionable insights to better understand their business and improve operations so they can focus on what really matters, to them.

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Buyer(S) 1

Buyer

eSolutions

Olathe, Kansas, United States
Category Company
Founded 1999
Sector Internet Software and Services
DESCRIPTION

eSolutions, Inc. is a provider of revenue cycle management software-as-a-service (“SaaS”). The Company’s products assist healthcare providers in automating and enhancing workflow with regard to claims review, editing, and denials/appeals management, as well as eligibility verification and payor connectivity. The Company’s client base is comprised of over 1,100 hospitals, home health and hospice providers, skilled nursing facilities, and durable medical equipment providers.

DEAL STATS #
Overall 2 of 4
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Tennessee) 1 of 1
Country (United States) 2 of 4
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-02 ClaimRemedi

Santa Rosa, California, United States

ClaimRemedi, Inc. is a provider of billing system and clearinghouse services for the healthcare industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Practice Insight

Houston, Texas, United States

Practice Insight LLC is a provider of SaaS-based revenue cycle management solutions to healthcare providers. PI's solutions automate a physician practice reimbursement workflow which assists them in reducing bad debt, shortens the collection cycle and streamlines the administrative staff needed to manage the RCM function.

Buy -

Seller(S) 1

SELLER

SSM Partners

Memphis, Tennessee, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

SSM Partners is a private equity firm that targets investments in smaller, rapidly growing, private companies based in the Southeast US. Areas of interest include business/outsourcing services, healthcare and consumer services. SSM focuses on transactions requiring $5 to $20 million of equity. Prospective transactions include growth financings, acquisitions, management led buyouts, and recapitalizations. SSM will also consider early-stage opportunities. SSM Partners is based in Memphis, Tennessee.

DEAL STATS #
Overall 22 of 28
Sector (Information Technology) 2 of 6
Type (Add-on Acquisition) 10 of 14
State (Tennessee) 7 of 7
Country (United States) 22 of 28
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-04 EnableComp

Franklin, Tennessee, United States

EnableComp is a provider of workers' compensation, Veteran Affairs, and other complex claims processing solutions, facilitated by its proprietary software, Enforcer360. EnableComp was founded in 2000 and is based in Franklin, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 SmashFly Technologies

Concord, Massachusetts, United States

SmashFly Technologies, Inc. is an operator of enterprise recruitment marketing and candidate relationship management (CRM) technology. SmashFly Technologies was founded in 2007 and is based in Concord, Massachusetts.

Buy -
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