Transactions
July 2011
SCI Solutions Recapitalized By The Wicks Group & NEA
Company Description
SCI Solutions is the industry leading provider of next-generation Access Management solutions for the hospital market. SCI’s web-based access management products and related support services connect patients, referring physicians and healthcare provider enterprises and aligns financial reimbursement for healthcare services with clinical appropriateness and regulatory compliance. SCI’s patent-protected solutions utilize advanced rules and workflow engines to facilitate efficient patient encounters and secure exchange of clinical and financial information between patients, physicians and healthcare facilities. SCI also enables hospitals to provide patients with world-class customer service levels – something often unseen in the healthcare experience. SCI Solutions was founded in 1999 and is headquartered in Campbell, CA.
Objectives
SCI Solutions engaged TripleTree in a long-term advisory relationship that would allow the Company to achieve some critical business milestones and assess the best strategic and financial partners to approach before going to market. The Company selected TripleTree because of its strong track record in advising best-in-class revenue cycle management and cloud-based companies, in addition to its ability to manage a process with minimal distractions.
Results
The SCI Solutions management team was interested in aligning with a financial sponsor who could support the Company with the capital to build-out their industry-leading solution. The Company ultimately selected The Wicks Group of Companies, LLC (Wicks) and New Enterprise Associates, Inc. (NEA) as partners with the financial resources, industry expertise, and operating partners to help the Company execute on its growth strategy. The Company plans to utilize additional funding to expand distribution and accelerate delivery of complementary SCI product offerings. In time, SCI will aggressively explore selective acquisitions aimed at augmenting the value realized by clients as they manage rapidly evolving reimbursement, care management, quality and regulatory environments.
LEAD INVESTMENT BANKERS
David Brownlie
Brian Klemenhagen
Seth Kneller
Company Description
SCI Solutions is the industry leading provider of next-generation Access Management solutions for the hospital market. SCI’s web-based access management products and related support services connect patients, referring physicians and healthcare provider enterprises and aligns financial reimbursement for healthcare services with clinical appropriateness and regulatory compliance. SCI’s patent-protected solutions utilize advanced rules and workflow engines to facilitate efficient patient encounters and secure exchange of clinical and financial information between patients, physicians and healthcare facilities. SCI also enables hospitals to provide patients with world-class customer service levels – something often unseen in the healthcare experience. SCI Solutions was founded in 1999 and is headquartered in Campbell, CA.
Objectives
SCI Solutions engaged TripleTree in a long-term advisory relationship that would allow the Company to achieve some critical business milestones and assess the best strategic and financial partners to approach before going to market. The Company selected TripleTree because of its strong track record in advising best-in-class revenue cycle management and cloud-based companies, in addition to its ability to manage a process with minimal distractions.
Results
The SCI Solutions management team was interested in aligning with a financial sponsor who could support the Company with the capital to build-out their industry-leading solution. The Company ultimately selected The Wicks Group of Companies, LLC (Wicks) and New Enterprise Associates, Inc. (NEA) as partners with the financial resources, industry expertise, and operating partners to help the Company execute on its growth strategy. The Company plans to utilize additional funding to expand distribution and accelerate delivery of complementary SCI product offerings. In time, SCI will aggressively explore selective acquisitions aimed at augmenting the value realized by clients as they manage rapidly evolving reimbursement, care management, quality and regulatory environments.
LEAD INVESTMENT BANKERS
David Brownlie
Brian Klemenhagen
Seth Kneller
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