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27-Sep-2018

SSM Partners Completes Minority Investment In ProviderTrust

NASHVILLE, Tenn., Sept. 25, 2018 /PRNewswire/ -- SSM Partners is pleased to announce a minority investment in ProviderTrust, a rapidly-growing healthcare IT company that provides screening, monitoring and verification tools to simplify healthcare compliance programs.

ProviderTrust is the fastest-growing SaaS company in Tennessee and the 90th fastest-growing SaaS company in the nation, per Inc. 5000. The company is the market leader in the data science of exclusion monitoring, license verification, and sanction screening, with the ultimate goal of helping clients improve the levels of patient safety and quality that they strive to provide.

ProviderTrust, based in Nashville, is co-led by Michael Rosen, Christopher Redhage, and Andrew Luers. ProviderTrust works with acute and post-acute providers, payers, and their vendors across all 50 states. Their impressive client list includes some of the leading healthcare companies in the country, like Community Health Systems (CHS), Deaconess Health System, Dialysis Clinics Inc., HCR ManorCare, Vanderbilt University and RCCH HealthCare Partners.

ProviderTrust's products include Passport (automated checks of individuals), VendorProof (automated checks of vendors), and ExclusionCheck (simple, self-service exclusion searches).

"We believe SSM's investment validates our success and opportunity, and we are excited to partner with such an experienced healthcare IT investor as we continue to grow our business," Rosen said.

"We are very enthusiastic to partner with ProviderTrust and its leadership to support the continued growth and expansion of the Company," said Casey West of SSM Partners, who is joining the company's Board of Directors. "ProviderTrust has already demonstrated real value for existing customers in the critical screening, monitoring and verification market. We believe the company's comprehensive solutions will continue to drive significant business growth, innovation and industry leadership."

To learn more about ProviderTrust, please visit www.providertrust.com.

About SSM Partners

SSM invests $5-20 million in rapidly growing companies within three primary areas: healthcare, software & technology, and Internet & consumer. The growth equity firm, which invests nationally and is based in Memphis, Tennessee, has partnered with talented entrepreneurs for more than 20 years. Starting with a relationship built on trust, SSM makes minority and majority equity investments and offers its entrepreneur-partners a thorough understanding of the growth company lifecycle and a collaborative approach to building great businesses. SSM's healthcare IT current and past investments include Apixio, Bloodhound Technologies, Connecture, EnableComp, Novu, Passport Health Communications, and RemitDATA.  For more information, please visit www.ssmpartners.com.

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Last Updated: 27-Sep-2018