HOUSTON - AUGUST 26, 2014 – Vendor Credentialing Service (VCS), a leading provider of Software as a Service (SaaS) based healthcare compliance and credentialing solutions, today announced a merger with Medkinetics and Payor Enrollment Services. The combination creates the leading provider of compliance and credentialing software covering all constituents of the healthcare community, including physicians, nurses, staff, vendors, contractors and payors.
“Each of the three companies has an established leadership position in its respective field,” said Rick Pleczko, President and CEO of VCS. “With this merger, healthcare organizations now have a single source provider for all their credentialing and compliance needs, across their entire organization.”
“We’re excited to join forces with VCS,” said Jim Cox, President of Medkinetics and Payor Enrollment Services. “The combination creates the clear leader in the industry, bringing together professionals with many years of experience in healthcare compliance with state of the art technology enabling our customers to quickly and easily solve their compliance and credentialing challenges.”
The combined company will be headquartered in Houston and will maintain operations out of Franklin, Tenn., formerly the Medkinetics and Payor Enrollment Services headquarters.
VCS is a portfolio company of The CapStreet Group, and Healthcare Growth Partners served as financial advisor to VCS and CapStreet.
Neil Kallmeyer, Managing Partner at The CapStreet Group, added, “The completion of the VCS and Medkinetics/Payor Enrollment Services merger represents VCS’s second acquisition in less than two years. We continue to pursue acquisition opportunities to further expand VCS’s product offering, solidifying the company's position as the leading compliance and credentialing company in the healthcare industry.”
About VCS (now symplr)
Founded in 2006, VCS is an industry leader in compliance and credentialing Software as a Service solutions that help healthcare organizations mitigate risk and ensure compliance. For more information contact Carrie Ward, [email protected] or (866) 373-9725.
About Medkinetics (now symplr)
Founded in 1999, Medkinetics provides innovative Software as a Service solutions for healthcare organizations including provider credentialing, privileging, peer review, quality and performance improvement, and event reporting. Medkinetics’ solutions enable clients to see increased revenue, reduced cost, enhanced provider relations, and improved compliance. For more information about Medkinetics, visit www. Medkinetics.com
About Payor Enrollment Services (now symplr)
Payor Enrollment Services provides fast and accurate credentialing and enrollment of practices and providers with commercial and federal payors. Payor Enrollment Services streamlines processes using state of the art software – taking the burden off providers and enabling organizations to recognize reimbursements faster. For more information about Payor Enrollment Services, visit www.payorenrollment.com
The CapStreet Group is a private equity firm founded in 1990 that invests in owner-managed, middle market companies headquartered in Texas and surrounding states. CapStreet targets companies operating in diversified business service sectors, including healthcare, industrial distribution and industrial manufacturing businesses and partners with management teams and existing owners to accelerate growth and improve profitability.
About Healthcare Growth Partners
Healthcare Growth Partners (HGP) provides investment banking and strategic advisory services with an exclusive focus on health informatics and digital health. Since 2005, HGP has closed over 60 transactions representing over $1 billion in value, including sell-side, buy-side, and capital formation. The firm leverages its experienced management team, domain expertise, and deep network of contacts to provide efficient and high value processes for clients.
Carrie Ward, [email protected]. 832-407-5347