Health Market Science Acquired by LexisNexis
Edison Partners Exits Leading Healthcare Data Provider, Generating 3X Return
Edison Partners announced today the completion of the successful exit of Health Market Science (HMS). This follows the November 13 announcement by LexisNexis® Risk Solutions, a division of Reed Elsevier, that it had reached agreement to acquire the company, a leading supplier of health care professional data. The enterprise value of the transaction yields a 3X return on invested capital for Edison Partners.
Headquartered in King of Prussia, PA, HMS is a leading supplier of high-quality data on health care professionals and medical claims in the U.S. Utilizing HMS solutions, businesses and government entities improve compliance with federal, state and international regulations, reduce operational costs, and optimize market opportunities.
“Exceptional leadership drove strong revenue growth and solid profitability, while ensuring continued innovation through the development of a technology platform and many new products,” said John Martinson, Edison General Partner. “The management team broadened their footprint from physician data to MDM solutions serving multiple markets.” Martinson led the investment in HMS and served on the board along with Edison Director Network members Steve Wray, Cadient CEO, as well as Chris French, former Dendrite Vice President of Marketing.
“Edison Partners’ reinforced business priorities during our company’s transformation under challenging market conditions,” said Matt Reichert, Health Market Science CEO. “We thank John Martinson for his strategic guidance and referrals to investors, lenders, management team members and service providers who made a profound impact on the business.”
Health Market Science was advised by Petsky Prunier, a leading investment bank in the healthcare industry based in New York.
Edison has financed and guided 200 private companies, including 20 Healthcare IT businesses. Noteworthy exits include Cadient (now Cognizant), Cambridgesoft (now Perkin Elmer), Dendrite (NASDAQ: DRTE) and Octagon (now Accenture). Current Healthcare IT portfolio companies include ClearPoint, Clinverse, iContracts, Lincor, PHX and Trialscope.
About Health Market Science
Health Market Science (HMS) helps businesses and government entities solve complex business challenges centered on healthcare provider information. Using our patented big data and analytics platform, current™, as well as deep domain expertise, HMS develops agile solutions so our clients can improve compliance with federal, state and international regulations, reduce operational costs and maximize market opportunities in real time. Our data assets include a comprehensive provider database of healthcare practitioners (HCPs,) healthcare organizations (HCOs,) and their affiliations, as well as the largest medical claims warehouse in the industry.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (www.lexisnexis.com/risk) is a leader in providing essential information that helps customers across all industries and government assess, predict and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a world leading provider of professional information solutions.
About Reed Elsevier
Reed Elsevier Group PLC (reedelsevier.com) is a world leading provider of professional information solutions. The group employs approximately 28,000 people of whom half are in North America. Reed Elsevier Group PLC is owned equally by two parent companies, Reed Elsevier PLC and Reed Elsevier NV; the combined market capitalisation of the two parent companies is approximately £19bn/€23bn. Its shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.
About Edison Partners
For 28 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey to becoming successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and interactive marketing industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
The Edison portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Lawrenceville, NJ, New York, NY, McLean, VA and Cleveland, OH, manages $928 million in assets throughout the eastern United States.
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