MedAssurant, a provider of health insurance plans in partnership with members of the healthcare community, has acquired Catalyst Information Technologies. Catalyst is a provider of HEDIS (Healthcare Effectiveness Data and Information Set) administrative software solutions for the managed care marketplace’s reporting to NCQA (National Committee for Quality Assurance) and the Center of Medicare & Medicaid Services (CMS).
The addition of the Catalyst systems, data-sets, and customer base further expands MedAssurant’s arsenal of capabilities and accelerates additional development of solutions focused on Comparative Effectiveness Research (CER), Health Economics Outcomes Research (HEOR), and clinical and quality outcomes measurement and financial efficiency.
The Catalyst/MedAssurant tool-sets have demonstrated inter-operability in a set of managed care organisations over the past five years. The combined teams will provide to customers the expanded tool-set, with customers already having achieved combined functionality.
The acquisition, which closed effective September 11, 2009, was made through a combination of MedAssurant cash and common stock. MedAssurant carries no long-term debt and no debt or outside financing was used for the financing of the acquisition. The law firm of Skadden, Arps, Slate, Meagher & Flom served as advisors to MedAssurant, whereas investment bank Harris Williams & Co. and the law firm Greenberg Traurig served as advisors to Catalyst Technologies.
