ProviderTrust, Inc ("ProviderTrust" or the "Company"), the leading provider of healthcare compliance screening, monitoring, and verification tools to acute and post-acute providers, payers, and their vendors, today announced that it has received a significant minority investment from Susquehanna Growth Equity, LLC ("SGE"), an entrepreneur-centric growth equity firm exclusively focused on internet, software, and information services companies. Financial terms of the investment were not disclosed. SGE's investment marks ProviderTrust's first significant outside capital funding since 2012 and furthers the Company's mission to create a safer and smarter healthcare for patients, providers, and payers.
Based in Nashville, ProviderTrust is co-led by Chris Redhage, Michael Rosen and Andrew Luers. ProviderTrust works with acute and post-acute providers, payers, and their vendors across all 50 states. The Company's growing roster of clients include some of the leading healthcare organizations in the country, such as Amerihealth Caritas, Community Health Systems (CHS), DentaQuest, HCR ManorCare, Kindred Healthcare, Tenet Health and Vanderbilt University.
ProviderTrust's products include Passport (automated ongoing monitoring of individuals), VendorProof (best-in-class onboarding, workflow tools and automated ongoing monitoring for vendors), Dash (workflow and instant verification for provider networks) and ExclusionCheck (simple, self-service exclusion searches).
"We are thrilled to welcome Scott Feldman, Shalin Mehta, and the rest of the Susquehanna Growth Equity team to leverage their strategic and financial resources," said Chris Redhage, Co-Founder and Partner of ProviderTrust. "This investment provides substantial opportunities to scale our business by strengthening our technology, database and processes, growing our customer base, and expanding into new compliance focused product categories. We look forward to the next stage of our evolution as we continue to grow ProviderTrust and deliver robust customer experiences to the nation's top healthcare organizations."
"ProviderTrust continues to define the on-going healthcare compliance monitoring space it created. We are thrilled to be partnering with their leadership team to continue building on ProviderTrust's exceptional momentum and customer-first ethos," added Scott Feldman, Managing Director at Susquehanna Growth Equity.
In conjunction with the transaction, SGE's Scott Feldman will join ProviderTrust's Board of Directors, along with Kimberly Rath, Co-founder of TalentPlus and Bo Bartholomew, CEO of Evidence Care.