PORTSMOUTH, N.H.--(BUSINESS WIRE)--MediSpend (or the “Company”), a global technology company providing best-in-class solutions for the life sciences industry, today announced that it has received a majority investment from Susquehanna Growth Equity, LLC ("SGE"), an entrepreneur-centric growth equity firm exclusively focused on software and information services companies. SGE's prior investments across the broader healthcare vertical include Evive, HMP Global, iContracts, MMIT, ProviderTrust and RLDatix. Financial terms of the investment were not disclosed.
MediSpend is a global technology company providing best-in-class solutions for the life sciences industry, enabling some of the world's largest pharmaceutical, medical device and emerging biotech companies to compliantly manage high-risk business functions through top-rated software and client services. The MediSpend Global Compliance Suite represents the industry's first global SaaS solution purpose-built to manage the end-to-end process of healthcare provider (HCP) engagement through transparency reporting, which includes software that facilitates external grant requests. The new partnership will accelerate and support MediSpend's product and client expansion across the broader life sciences industry.
"We are incredibly excited to partner with the Susquehanna Growth Equity team as we advance into our next stage of company growth," said Craig Hauben, CEO of MediSpend. "This partnership will promote investments across the company as we expand our product offering to continue our mission to help ensure end-to-end compliance for our customers."
"We are thrilled to partner with MediSpend, a key innovator within the global life sciences industry whose compliance suite includes transparency, engagement and grants management functions all bundled together in a single software and workflow solution,“ said Scott Feldman, Managing Director at SGE “MediSpend is purpose-built for integration worldwide, enabling clients to seamlessly manage increasingly complex reporting requirements in different geographies across the globe.”
In conjunction with the transaction, Scott Feldman, Managing Director at SGE will join MediSpend CEO, Craig Hauben, and existing investors Steve Eaton and Dave Cormack on the Board of Directors.
ABOUT MEDISPEND
MediSpend is a global technology company providing best-in-class solutions that enable life science companies to compliantly manage high-risk business functions through top-rated software and client services. MediSpend is the compliance system of record for some of the world’s largest pharmaceutical, medical device, dental and emerging biotech companies around the world. The MediSpend Global Compliance Suite represents the industry’s first global SaaS solution purpose-built to manage the end-to-end process of HCP engagement through transparency reporting, which includes software that facilitates external grant requests. MediSpend is headquartered in Portsmouth, N.H., with offices in Minnesota, New York, Pennsylvania and the Netherlands. Visit MediSpend online at www.medispend.com.
ABOUT SUSQUEHANNA GROWTH EQUITY
Susquehanna Growth Equity, LLC (SGE) is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, internet and information services companies. The firm has invested over two billion dollars in 60+ market-leading technology companies over the last 15 years and has portfolio companies across the US, Canada, EU, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com.
