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Water Street Appoints Vice President

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has appointed Nicklaus Daley to vice president.

Mr. Daley augments Water Street’s team of senior investment professionals and former executives of health care corporations including Baxter International Inc., CVS Caremark Corporation, Johnson & Johnson and McKesson Corporation.

Mr. Daley will support Water Street with identifying and executing new investment opportunities in the firm’s targeted health care sectors. He also will assist with the strategic management of Water Street’s group of health care companies. Prior to Water Street, Mr. Daley worked as an associate with CIVC Partners. He also worked at Houlihan Lokey and the consulting practice of Bain & Company. Mr. Daley received his bachelor’s degree in economics from the Wharton School at the University of Pennsylvania. He earned his master’s degree in business administration from Northwestern University’s Kellogg School of Management.

“We are pleased to grow Water Street as we continue to expand our family of health care companies. It has been a busy year with our team investing in a services company and facilitating four strategic acquisitions to strengthen and extend our companies’ capabilities,” said Tim Dugan, managing partner, Water Street. “We continue to be focused on proactively engaging with health care leaders to discuss new ways that we can align our team’s health care expertise and resources to support them in achieving their objectives for value creation.”

Water Street has completed more than 70 strategic acquisitions and mergers to build 25 market-leading health care companies since raising its first fund 10 years ago. The firm recently announced that it signed an agreement to sell its specialty clinical trial solutions business, Bioclinica, Inc. Water Street is continuing to pursue proprietary investment opportunities in four segments of health care: medical and diagnostic products and devices, specialty distribution, health care services, and specialty pharmaceutical products and services. Target investments range in size from $50 million to $500 million in value.

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Water Street Announces Agreement to Sell Bioclinica

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, and JLL Partners announced today that they have signed a definitive agreement to sell Bioclinica, Inc. to international private equity firm, Cinven.

Headquartered in Doylestown, Pa., Bioclinica is one of the world’s leading providers of specialty outsourced clinical trial solutions.

“It has been rewarding to work with Water Street and JLL Partners to build Bioclinica into an industry leader that offers exceptional scientific expertise and technology across a global service platform. They have been excellent partners in supporting our team to build a differentiated business that creates clarity and efficiency in the complex clinical trial process. We look forward to continuing to broaden our services and deepen our client relationships in partnership with Cinven,” said Dr. John Hubbard, chief executive officer, Bioclinica.

Water Street and JLL Partners merged Bioclinica and CCBR-SYNARC to create a market leader in 2014. Under their stewardship, Bioclinica completed eight strategic acquisitions that strengthened and broadened its capabilities across every major phase of clinical development. Bioclinica expanded its customer base to encompass more than 400 of the world’s premier pharmaceutical, contract research organizations and medical device companies, including all of the top 50 pharmaceutical companies and top 10 CROs. In the past two years, Bioclinica’s revenues have increased more than 60 percent and its employee population has more than doubled.

“We are extremely pleased that our partnership with John and JLL achieved our goal of transforming Bioclinica into a high-growth global leader,” said Peter Strothman, partner, Water Street. “It is gratifying to see our combined work culminate in a sale that will deliver an outstanding return to our investors. We believe that Cinven will be an excellent partner with management as they continue to execute Bioclinica’s strategic plan.”

Dan Agroskin, managing director, JLL Partners, added, “We are delighted that the strategic plan we have implemented led to outstanding growth at Bioclinica. John and the management team have done an excellent job of building Bioclinica into a global leader.”

The transaction is expected to close in the fourth quarter of 2016. Financial terms are not being disclosed.

About Bioclinica

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The Company serves more than 400 pharmaceutical, biotechnology and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. Learn more at www.bioclinica.com.

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Bioclinica Acquires Compass Research

Bioclinica®, a provider of specialized technology-enabled services supporting clinical trials, today announced it has acquired Compass Research, a leading U.S. clinical research site network with direct access to a number of specialized populations with neurodegenerative disorders and other diseases found in aging demographics.

The acquisition solidifies Bioclinica’s position as a premier global research network—and the only one with investigator sites in the U.S., Europe, Latin America, and Asia.

Bioclinica President and CEO John Hubbard, Ph.D. said, “This exciting acquisition brings established, highly successful U.S. investigational sites into our global research network. The Compass Research team has built a strong operation that will set the model for our clinical research expansion in the United States.” He added, “With its industry reputation for being both patient-focused and the ‘go-to site’ for Alzheimer’s research, Compass will be a key part of our global research network.”

Headquartered in Orlando, Florida, Compass Research brings to Bioclinica state-of-the-art facilities and experienced clinicians focused on patient care. As a group, Compass researchers have supported more than 1,300 trials and contributed to the FDA approval of more than 80 biopharmaceutical products.

Compass Chief Medical Officer and co-founder Craig Curtis, MD, CPI said, “Compass Research has one of the most experienced Phase 1-4 site teams in the U.S and is a preferred provider for many of the largest biopharmaceutical companies globally.”

Most notably, Compass has an established presence in The Villages, the largest retirement community in the U.S. and home to 179,000 elderly residents who may contribute to research such as Arthritis, back, knee and hip pain, Women’s Health, Alzheimer’s Disease, dementia, as well as Type II Diabetes and cardiovascular diseases. The company also has a database of nearly 80,000 potential subjects amassed through a network of physicians and affiliate practices with in-clinic recruiters, as well as an in-house marketing and call center.

Compass Research CEO and co-founder Sean Stanton said, “Undoubtedly, access to patients combined with exceptional patient care have contributed to our industry-leading reputation. Our highly successful model is complementary to Bioclinica’s global network, and we feel confident in our ability to replicate it in other geographies as we add more sites across the country.”

The Compass leadership team will play a strategic role in the Bioclinica Research Network expansion. In addition to Mr. Stanton and Dr. Curtis, Chief Operating Officer Jeff Pohlig, and Compass Primary Investigators will assume key roles in the ongoing development of Bioclinica’s U.S. site network.

Bioclinica Global Clinical Research President Elizabeth Thiele said, “We are pleased to welcome this high-caliber management team and Compass colleagues to Bioclinica. These talented individuals will help steer our Research Network toward accelerated clinical development in Alzheimer’, Neurosciences, Cardiovascular, Osteoarthritis, Osteoporosis, Rheumatoid Arthritis, Pain, Vaccine, Migraine and other indications in which we are already working.”

Dr. Hubbard added, “This exciting acquisition adds considerable expertise for a full complement of therapeutic specialization across our expanding global network. In addition to the Research Network, we see unique synergies with our Medical Imaging, Biomarkers, eHealth Solutions, and Patient Recruitment-Retention teams to give our clients added insights to further their clinical development in a more efficient and cost-effective way.”

To introduce the latest addition to the expanding Bioclinica network, Bioclinica will exhibit with members of the Compass Research team at the Alzheimer’s Association International Conference (AAIC), a global forum to advance dementia science, in Toronto, Canada on July 24-28.

About Compass Research

Compass Research is a clinical research company dedicated to testing investigational medications that cover a broad range of diseases and disorders. By participating in a clinical research study with Compass Research, participants are given the opportunity to provide valuable information for the future of medicine. Our core value is to exceed the expectations of both our patients and sponsors. We do this through comprehensive quality control and attention to detail. Our staff has over 400 years of combined clinical research experience in all fields of medicine. This gives us extensive knowledge of the clinical research study process from beginning to end and the ability to provide quality data to our sponsors.

About Bioclinica

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The Company serves more than 400 pharmaceutical, biotechnology and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. Learn more at www.bioclinica.com.

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Premise Health Announces Acquisition

Premise Health, a leading worksite health and patient engagement company, announced today that it has acquired TransformHealthRx, Inc., which specializes in onsite and multi-employer health and wellness centers.

The acquisition enhances Premise Health’s growing presence in the mid-size company and municipality markets, building upon its acquisition of IMWell Health, LLC earlier this year.

Premise Health has invested significantly in developing new employee health solutions since it was formed through the merger of CHS Health Services and Take Care Employer Solutions in 2014. The company provides personalized care to more than 200 of the nation’s leading employers, including many of the Fortune 1000, through onsite health centers. The addition of TransformHealthRx, which currently operates 17 sites in five states, further extends Premise’s expertise and services to centers that serve multiple employers, including mid-size companies, school districts and municipalities.

“This partnership with TransformHealthRx further solidifies our strategic focus on mid-size employer and municipality markets and expands our ability to improve the cost and quality of employer health care to a broader market,” said Stu Clark, chief executive officer, Premise Health. “Premise Health and TransformHealthRx were built on similar values, and we look forward to working together to provide our clients with unparalleled care and an exceptional patient experience while driving down the cost of care.”

In the past 10 years, TransformHealthRx has expanded its capabilities to provide a variety of health and wellness options including care management, primary care services and personalized wellness programs.

“We believe this is a natural next step in improving health outcomes for populations and increasing patient engagement, which is a goal that both our companies share,” said Allison Judge, TransformHealthRx founder and CEO. “This partnership will provide TransformHealthRx with access to clinical, operations and technology resources, as well as the expertise and capital to further the company’s vision.”

The leadership team at TransformHealthRx will remain in place, with increased support and resources from Premise Health, and continue to provide clients with the quality of services they have come to expect. Mr. Clark added that Premise Health will continue to pursue strategic initiatives and acquisitions that expand the company’s capabilities and services.

ABOUT PREMISE HEALTH

Premise Health is a leading worksite health and patient engagement company dedicated to improving the cost and quality of employee health care. With more than 40 years of experience, Premise Health manages more than 500 worksite-based health and wellness centers across the country. The company serves more than 200 of the nation’s leading employers, including a significant number of the Fortune 1000. Premise Health is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information on Premise Health, visit www.premisehealth.com.

 ABOUT TRANSFORMHEALTHRX

TransformHealthRx specializes in onsite or near-site health and wellness centers for employers with between 200 and 5000 employees. TransformHealthRx matches proven best practices in health care delivery with the needs and budget of its clients. The company currently supports centers in Georgia, North Carolina, Tennessee, Idaho and Indiana. TransformHealthRx has the finest transparent cost model in the industry along with some of the best healthcare management outcomes. For more information on TransformHealthRx, visit www.transformhealthrx.com.

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Water Street Invests in ELAP Services

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has completed a growth investment in ELAP Services LLC.

Headquartered in Wayne, Pa., ELAP specializes in reducing health insurance costs for mid-size companies across the United States.

Steve Kelly, co-founder and chief executive officer of ELAP, said, “When we founded ELAP, it was with the belief that we could make a difference in helping companies offer their employees high-quality, affordable health care by bringing transparency to health care expenses – one of the top cost drivers for any organization. Today, we are saving companies and their employees millions of dollars in health insurance costs. With Water Street, we gain a partner with the industry expertise and resources to expand our services and make an even greater impact on behalf of our clients.”

ELAP works with companies to design self-insured health plans and manage their medical claims. It conducts detailed audits on their medical bills and reprices them based on an analysis of the medical providers’ actual costs and Medicare rates. On average, each case managed by ELAP reduces employers’ long-term health care expenses by as much as 25 percent. Over the past ten years, ELAP has grown to serve more than 400 companies.

“ELAP provides a unique and valuable solution that addresses an important need in the market,” said Steve Cosler, operating partner, Water Street. “We are honored that Steve and his team have selected Water Street as their partner. We look forward to contributing our expertise to extend ELAP’s services into new areas and build greater long-term value in the business.”

Mr. Kelly, along with co-founder C. Woody Waters, and Chief Operating Officer Enelia Gonzalez will continue to lead the company. Mr. Cosler, who has more than 30 years of leadership experience in outsourced health care services, and Ned Villers and Max Mishkin with Water Street, will join Messrs. Kelly and Waters as members of the board of directors.

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Baxter Announces New Product Developed in Partnership with Water Street

Advancing Baxter’s longstanding commitment to provide hospitals with convenient presentations of medications that drive efficiency during drug preparation and enhance patient safety in administration, Baxter International Inc. (NYSE: BAX) today announced the launch of a ready-to-use VANCOMYCIN injection in 0.9% Sodium Chloride (Normal Saline) in 500 mg, 750 mg and 1 gram presentations.

VANCOMYCIN injection is an antibiotic used to treat serious or severe infections caused by susceptible strains of methicillin-resistant (beta-lactam-resistant) staphylococci bacteria.

Baxter is the only manufacturer to offer VANCOMYCIN in a premixed presentation, which uses the company’s proprietary frozen GALAXY container technology. Baxter’s innovative frozen premix technology is specifically designed for unstable molecules that are often administered using standardized doses. Premixed molecules offered in the GALAXY container are illustrative of the leading innovation in medical manufacturing that Baxter has been bringing to the healthcare industry for more than 80 years.

VANCOMYCIN saline injection augments Baxter’s expanding portfolio of generic injectable drugs in the United States available in easy-to-use presentations that hospitals, physicians and patients can rely on because they are manufactured to the Current Good Manufacturing Practice (cGMP) regulations established by the U.S. Food and Drug Administration (FDA). Premixed medications in standardized drug concentrations can help support hospitals’ goals for safe and efficient medication preparation because compounding is not necessary.

“As a company whose mission is focused on saving and sustaining lives, Baxter’s launch of VANCOMYCIN injection in an innovative premixed saline presentation provides new options of an important antibiotic to address patient needs and demonstrates our commitment to making premixed preparations of medications more efficient for healthcare practitioners,” said Brik Eyre, president of Baxter’s Hospital Products business.

The launch is an extension of Baxter’s existing VANCOMYCIN injection in 5% dextrose in 500 mg, 750 mg and 1 gram presentations and provides an alternative to certain patients who may need to avoid receiving additional dextrose. By providing VANCOMYCIN in both saline and dextrose presentations, Baxter makes additional therapy options available of a critical antibiotic that has appeared on and off of the FDA Drug Shortage list.

VANCOMYCIN saline injection is the second of nine clinically important molecules coming out of a collaborative partnership with Celerity Pharmaceuticals, LLC, a company of Water Street Healthcare Partners, to develop new products that use Baxter’s proprietary container technology, enhanced packaging platform, and aseptic filling manufacturing process.

Baxter’s VANCOMYCIN saline injection in 500 mg, 750 mg and 1 gram presentations are available in the United States.

INDICATIONS for Vancomycin Injection, USP:

• For the treatment of serious or severe infections caused by susceptible strains of methicillin-resistant (beta-lactam-resistant) staphylococci. It is indicated for penicillin-allergic patients, for patients who cannot receive or who have failed to respond to other drugs, including the penicillins or cephalosporins, and for infections caused by vancomycin-susceptible organisms that are resistant to other antimicrobial drugs. Vancomycin is indicated for initial therapy when methicillin-resistant staphylococci are suspected, but after susceptibility data are available, therapy should be adjusted accordingly.

• Vancomycin is effective in the treatment of staphylococcal endocarditis. Vancomycin has been reported to be effective alone or in combination with an aminoglycoside for endocarditis caused by Streptococcus viridans or S. bovis. For endocarditis caused by enterococci (e.g., E. faecalis), vancomycin has been reported to be effective only in combination with an aminoglycoside. Vancomycin has been reported to be effective for the treatment of diphtheroid endocarditis. Vancomycin has been used successfully in combination with either rifampin, an aminoglycoside, or both in early-onset prosthetic valve endocarditis caused by S. epidermidis or diphtheroids. Specimens for bacteriologic cultures should be obtained in order to isolate and identify causative organisms and to determine their susceptibilities to vancomycin. Its effectiveness has been documented in other infections due to staphylococci, including septicemia, bone infections, lower respiratory tract infections, skin and skin structure infections. When staphylococcal infections are localized and purulent, antibiotics are used as adjuncts to appropriate surgical measures.

• To reduce the development of drug-resistant bacteria and maintain the effectiveness of vancomycin and other antibacterial drugs, vancomycin should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria. When culture and susceptibility information are available, they should be considered in selecting or modifying antibacterial therapy. In the absence of such data, local epidemiology and susceptibility patterns may contribute to the empiric selection of therapy.

IMPORTANT RISK INFORMATION for Vancomycin Injection, USP:

• Vancomycin is contraindicated in patients with known hypersensitivity to this antibiotic and in patients with known allergy to corn or corn products.

• Vancomycin should be administered over a period of not less than 60 minutes to avoid rapid-infusion-related reactions, such as exaggerated hypotension, including shock, and, rarely, cardiac arrest. Stopping the infusion usually results in prompt cessation of these reactions.

• Ototoxicity has occurred in patients receiving vancomycin and may be transient or permanent. It has been reported mostly in patients who have been given excessive doses, who have an underlying hearing loss, or who are receiving concomitant therapy with another ototoxic agent, such as an aminoglycoside.

• Patients with renal insufficiency should undergo serial monitoring of renal function and receive appropriate dosing schedules. The risk of toxicity and nephrotoxicity is increased with high, prolonged blood concentrations and concomitant therapy with an aminoglycoside.

• Clostridium difficile associated diarrhea (CDAD) has been reported with Vancomycin Injection, USP, and may range in severity from mild diarrhea to fatal colitis. Prolonged use of vancomycin may result in the overgrowth of nonsusceptible microorganisms. Careful observation of the patient is essential. If superinfection occurs during therapy, appropriate measures should be taken.

• Risk of High Sodium Load: Avoid use of Vancomycin in patients with congestive heart failure, elderly patients and patients requiring restricted sodium intake.

• Reversible neutropenia has been reported in patients receiving vancomycin. Patients who will undergo prolonged therapy with vancomycin or who are receiving concomitant drugs that may cause neutropenia should have periodic monitoring of the leukocyte count.

• Vancomycin is irritating to tissue and must be given by a secure intravenous route of administration. Pain, tenderness, and necrosis occur with inadvertent extravasation.

• The safety and efficacy of vancomycin administered by the intrathecal (intralumbar or intraventricular) route or by the intraperitoneal route have not been established by adequate and well controlled trials.

• Reports revealed administration of sterile vancomycin by the intraperitoneal route during continuous ambulatory peritoneal dialysis (CAPD) has resulted in a syndrome of chemical peritonitis. To date, this syndrome has ranged from a cloudy dialysate alone to a cloudy dialysate accompanied by variable degrees of abdominal pain and fever. This syndrome appears to be short-lived after discontinuation of intraperitoneal vancomycin.

Please see accompanying full Prescribing Information.

About Baxter Baxter provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.

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Water Street Completes Sale of HealthPlan Services

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that Tampa, Fla.-based HealthPlan Services has been sold to global information technology, consulting and business process services leader, Wipro Limited, for $460 million.

During its seven-year partnership with HealthPlan Services, Water Street helped grow the company into the nation’s leading technology and Business Process as a Services (BPaaS) solution for the individual health insurance industry.

Water Street invested in HealthPlan Services in 2008. Working together, Water Street and the management team developed and executed a strategic growth plan that expanded HealthPlan Services’ outsourcing platform and elevated the company to a leadership role in the insurance exchange market created through the Affordable Care Act (ACA). HealthPlan nearly quadrupled its revenues to $223 million and more than doubled its employees over the course of its partnership with Water Street. Today, more than a quarter of all consumers on the federal health insurance exchange benefit from HealthPlan Services’ solutions.

“HealthPlan and Water Street created a set of solutions, platform and services that previously did not exist. In doing so, we helped many of the nation’s largest health insurance payers acquire, service and retain millions of incremental members under the ACA,” said Jeff Bak, president and chief executive officer, HealthPlan Services. “Water Street enabled us to make a significantly large investment in our platform to execute our vision and strategy. Its industry experience and network of resources were invaluable to our growth and to achieving the next step in our strategic plan through the Wipro transaction.”

“It’s been our privilege to work with Jeff and the entire HealthPlan management team to make a meaningful impact in the health care industry. We are proud of the incredible growth we have experienced over the past seven years, as HealthPlan added more than 1,000 associates and became a critical part of the dynamic individual insurance marketplace. We are pleased that our success has been validated by a global leader committed to continuing the company’s strong growth trajectory,” said Ned Villers, partner, Water Street.

About HealthPlan Services

HealthPlan Services delivers a best-in-class administrative technology platform and consumer engagement services to payers and agents across the public exchange, private exchange and off-exchange individual markets. The company is the largest independent provider of sales, benefits administration, retention, and technology solutions to the health insurance and managed care industries. Headquartered in Tampa, Florida, HealthPlan Services was founded in 1970 and employs over 2,000 associates. HealthPlan Services stands at the forefront of the health insurance industry, providing exchange connectivity, administration, distribution and technology services to insurers of individual, group, voluntary and association plans, as well as valuable solutions to thousands of brokers and agents nationwide. For more information, please visit www.healthplan.com.

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Wipro to Acquire HealthPlan Services from Water Street

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.

Since partnering with Water Street in 2008, HealthPlan Services has grown to become the leading independent technology and Business Process as a Service (BPaaS) provider in the U.S. Health Insurance market. As part of the agreement, Wipro will acquire 100% of HealthPlan Services’ shares for a purchase consideration of USD 460 million.

Headquartered in Tampa, Florida, HealthPlan Services employs over 2,000 associates. HealthPlan Services offers market-leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to Health Insurance companies (Payers) in the individual, group and ancillary markets. HealthPlan Services BPaaS solutions are ideal for payers who want to operate in the private and public exchanges and the off-exchange individual market in the U.S.

HealthPlan Services provides U.S. payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform. In the highly competitive Exchange market, payers rely on HealthPlan Services’ innovative and robust offering to acquire, service and retain members. Payers also leverage the analytical and predictive engines of HealthPlan Services to better serve their members. Today, HealthPlan Services connects its payer clients to over 40 public exchanges and over 150 private exchanges in the U.S. HealthPlan Services has powered many of these payers to achieve desired membership growth, while keeping their administrative costs predictable.

The Patient Protection and Affordable Care Act has dramatically altered the health insurance landscape in the U.S. The post-reform individual market is growing at a fast pace and is expected to continue to grow in coming years. By partnering with HealthPlan Services, Wipro gains the competitive, first-mover advantage in the high growth public and private exchange space for individual, group and ancillary markets. This partnership also strengthens Wipro’s payer portfolio, with access to HealthPlan Services’ payer clientele.

This transaction is closely aligned with Wipro’s key levers for growth, which are to dominate the services market through industry utilities that multiple customers can use. This acquisition adds another platform-led Business Process as a Service (BPaaS) offerings, delivered on cloud to Wipro’s services portfolio. Wipro’s clients currently include over 100 U.S. payers, leading healthcare providers, and public health agencies.

“The partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model. HealthPlan Services strengthens Wipro’s position in the health insurance exchange market while offering synergies with Wipro’s presence in the Managed Medicare and Commercial Group Insurance markets. The addition of HealthPlan Services’ capabilities complements Wipro’s strengths in claims processing and back office services. This is a strategic move for us, as it advances Wipro’s vision of leveraging unique insights into customer buying behavior and applying this across the healthcare value chain. This will help us lower the cost of healthcare and transform the quality of the member experience,” said Jeffrey Heenan Jalil, Senior Vice President & Head- Healthcare Life Sciences and Services, Wipro Limited.

“We welcome the HealthPlan Services team to the Wipro family. Over the past eighteen months we have transformed our BPS business into a platform-led BPaaS business with a strong focus on the healthcare services market. This transaction will help us become the leader in administrative service in the U.S. health insurance industry. The partnership with HealthPlan Services also reinforces our commitment to the US market by creating jobs and value within the US economy,” said Nagendra Bandaru, Senior Vice President and Head – Business Process Services, Wipro Limited.

“We are excited about what Wipro and HealthPlan Services can accomplish together for our customers and employees," said Jeff Bak, CEO and President of HealthPlan Services. “The combination creates the first true end-to-end solution in the individual under 65 commercial market and the governmental over 65 and Medicaid markets. Together, Wipro and HealthPlan Services will give payers the power to accelerate growth strategies while providing both Business Platform as a Service (BPaaS) and competitive administrative service solutions. We are delighted that Wipro believes in our talented people, strategic vision, corporate culture and business fit to help insurers succeed in a consumer-centric world.”

This transaction is subject to customary closing conditions and regulatory approvals and is likely to be completed in next 60 to 90 days.

About Wipro Ltd.

Wipro Ltd. (NYSE:WIT) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology.”  By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 160,000, serving clients in 175+ cities across 6 continents. For more information, please visit www.wipro.com

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Premise Health Continues Expansion

Premise Health, a leading worksite health and patient engagement company, announced today that it has acquired IMWell Health, LLC.

Headquartered in Fort Smith, Arkansas, IMWell specializes in primary care clinics for mid-size companies and municipalities. The acquisition marks another advancement in Premise Health’s strategic expansion to improve the cost and quality of employer health care.

Premise Health has invested significantly in developing new employee health solutions since it was formed through the merger of CHS Health Services and Take Care Employer Solutions in 2014. The company provides personalized care to more than 200 of the nation’s leading employers, including many of the Fortune 1000, through onsite health clinics. With the addition of IMWell, Premise Health extends its expertise and services to clinics that serve and are located near multiple employers, including mid-size companies, school districts and municipalities.

“The addition of IMWell is a natural next step in our effort to expand our capabilities for serving the mid-sized employer and public employer markets,” said Stu Clark, chief executive officer, Premise Health. “IMWell’s multi-employer, near-site model is an excellent platform from which to leverage our patient engagement and health improvement strategies to a broader market. We are excited to have the IMWell organization join the Premise Health family.”

Founded in 2004, IMWell has grown to operate 17 onsite and multi-site clinics that serve more than 65,000 employees and their family members. The clinics provide acute care, chronic disease evaluation and care management to small and mid-size corporate employers, municipalities and school districts primarily located in the Southwest region of the United States.

“This is an ideal partnership for both of our organizations,” said Dan Parker, CEO, IMWell. “Our companies share similar values and are both dedicated to improving the health and wellness of employees and their family members. We are looking forward to gaining access to Premise Health’s extensive clinical, operational and technology resources, as well as sharing our expertise in operating multi-employer clinics.” Clark added that strategic acquisitions, such as that of IMWell, will continue to be a key component of Premise Health’s growth plan.

ABOUT PREMISE HEALTH

Premise Health is a leading worksite health and patient engagement company dedicated to improving the cost and quality of employee health care. With more than 40 years of experience, Premise Health manages more than 500 worksite-based health and wellness centers across the country. The company serves more than 200 of the nation’s leading employers, including a significant number of the Fortune 1000. Premise Health is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information on Premise Health, visit www.premisehealth.com.

ABOUT IMWELL HEALTH

IMWell Health is a leader in developing on-site and multi-employer primary care clinics customized to meet employers’ specific needs. Established in 2004, the company consists of dedicated medical professionals who specialize in improving the health and productivity of the unique workforces they serve. This provides its clients with an enhanced ability to stabilize and lower their overall healthcare costs through IMWell Health’s Patient Centered Medical Home – a commitment to optimal outcomes driven by a compassionate partnership between our medical teams and employers, patients and families. For more information, visit the IMWell Health website at www.imwhealth.com.

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Bioclinica Expands Services with Clinverse Acquisition

Bioclinica®, Inc., a specialty clinical trials services and technology provider, announced today that it has acquired Clinverse, Inc.

The acquisition expands Bioclinica’s offerings into the growing market of automated financial management technology solutions for global clinical trials. Clinverse is the latest investment that Bioclinica has completed to build the company into a leading provider of solutions that bring quality and efficiency to every phase of clinical trial development.

Headquartered in Durham, North Carolina, Clinverse automates and manages the entire financial lifecycle of global clinical trials for contract research organizations (CROs) and pharmaceutical companies. Its suite of products pays clinical trial sites, vendors and their subjects; budgets and forecasts trial expenditures and converts tax and exchange rates in more than 200 countries and 140 currencies globally. Clinverse’s products also can be integrated with other eClinical platforms. The company’s services have saved CROs and pharmaceutical corporations as much as 50 percent of their operational costs.

“We are delighted to add Clinverse’s capabilities to Bioclinica’s portfolio of solutions,” said Dr. John Hubbard, president and chief executive officer, Bioclinica. “Managing clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development.”

Clinverse will become part of Bioclinica’s eHealth Solutions business segment, which offers technology solutions to support pharmaceutical companies and CROs in the efficient management and conduct of clinical trials, as well as Safety and Regulatory Solutions. In addition to eHealth technologies, Bioclinica offers a comprehensive portfolio of services encompassing medical imaging and biomarkers, patient recruitment and retention services, a research site network and a post approval research division. The company has invested in strategic initiatives and acquisitions to expand its capabilities and services since merging with CCBR-SYNARC in 2014 to become a leading clinical trial services provider.

“We are excited to join Bioclinica,” said Jay Trepanier, chief executive officer, Clinverse. “This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica’s clients.”

Trepanier will continue to lead Clinverse and report to Mukhtar Ahmed, president of Bioclinica’s eHealth Solutions Segment.

About Clinverse, Inc.

Clinverse, Inc. architected the industry’s first automated financial management technology solution for clinical trials. Powered by our secure technology platform, our solution standardizes clinical trial financial management for millions of financial transactions across the globe, including clinical site payments. Used by leading BioPharma companies, our solutions remove antiquated manual process so our clients benefit from reduced workload, time and costs gained through automation and unprecedented transparency and workflow. For more information, please visit www.clinverse.com.

About Bioclinica, Inc.

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized into three business segments to deliver focused service and multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises an eClinical technologies and professional services along with safety and regulatory solutions. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The company serves more than 400 pharmaceutical, biotechnology, and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. For more information, please visit www.bioclinica.com.

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