– MediConnect provides electronic health records (EHR) retrieval, exchange and management software as a service (SaaS) for the medical, insurance and legal sectors
– MediConnect has a repository of nearly 10 million medical records that are digitized, indexed, and securely hosted online
– MediConnect was founded in 1996 and is headquartered in Sandy, Utah
– Verisk provides risk assessment and management services and software for the financial, healthcare and insurance sectors
– Verisk was founded in 1971 and is headquartered in Jersey City, New Jersey
– The acquisition will further advance Verisk’s position as a major provider of data, analytics, and decision support solutions in the healthcare industry
– Creates an integrated HEDIS reporting (compliance) and Revenue Integrity solution for health plans
– Accelerates MediConnect’s growth and increases Verisk’s health client access
– Provides access to a broad repository of clinical data (approximately 10 million medical records with clinical data)
– Arma Partners was engaged at the direction of the Board to provide valuation and strategic advice on the unsolicited approach
– Arma Partners helped coordinate the acquisition process and provide management support including financial modeling, valuation defense, contract negotiations and due diligence activities