|By Business Wire||
|August 14, 2014 01:03 PM EDT||
MMIS, Inc., the creator of the MediSpend global compliance and transparency family of products, announced an investment by EDG Partners, a private equity firm. The investment will enable MMIS to enhance and expand its global offerings, increase sales and marketing activities, and add to its talented engineering, operations, marketing and sales teams.
“MMIS is a dynamic and well positioned company led by its very capable co-founders, Michaeline Daboul, CEO, and Tim Robinson, Esq., the Chief Knowledge Officer. EDG Partners is pleased to partner with the MMIS senior leadership team as the company enters a new phase of growth and development,” said J. Stephen Eaton, Co-Founder and Managing Director of EDG Partners. “We believe MMIS has a terrific opportunity to be the leader in healthcare compliance outsourced solutions.”
Recently, MediSpend was rated as one of the Top 5 enterprise technology providers by Pharma Compliance Europe. In order to continue to meet the needs of its global customers who are faced with ever-changing and expanding compliance and transparency demands, MMIS will use the EDG investment to increase the breadth and capabilities of the MediSpend solutions. The additional resources will fuel a variety of critical activities, including the development of additional region-specific products as well as focused offerings that will help organizations comply with regulations while understanding and optimizing their business activities.
“MMIS is excited to partner with EDG, an organization with exceptional healthcare industry experience,” said Michaeline Daboul, President and CEO of MMIS. “EDG and MMIS share the same vision and understand the tremendous growth opportunity for MMIS afforded by the complex and global compliance needs of pharmaceutical and medical device organizations. I know the entire MMIS team will benefit greatly from the strategic and financial support of our new partner.”
Increasingly, organizations that created a solution in-house, or relied on a third-party service, are looking to MediSpend products to meet future compliance demands. With the EDG investment, current and future customers can be assured that MMIS will continue to provide cost-effective solutions for their global compliance and transparency needs.
“With the Medispend platform, MMIS not only provides a solution for companies to securely comply with the Sunshine Act and other international transparency laws, but it also enables physicians to track and validate their activities with industry participants,” said Dr. Pat Pace, EDG Advisor.
Since 1999, MMIS has provided innovative products and services for the life sciences industry. The MediSpend Global Compliance platform is a market-leading SaaS solution that allows organizations to cost-effectively comply with global transparency laws, analyze data and securely communicate with healthcare providers across the world. Other offerings include MediSpend Analytics, a service for understanding aggregate spend data and its business impact, and MediSpend Validate, a standalone tool for validating CMS submissions. In addition, MMIS operates the Physicians Professional Network (PPN), a private and secure service for licensed healthcare professionals that allows them to review and dispute spend data. For more information, please visit mmis-inc.com.
About EDG Partners
EDG Partners is a private equity firm that provides capital, expertise, and relationships to enable small and middle market healthcare companies to achieve their potential. With considerable investment and operating experience, EDG partners with management teams to navigate the critical inflection points that accompany growth. EDG Partners delivers exceptional value by helping to build exceptional companies. For more information, please visit edgpartners.com.
For more information regarding the EDG investment in MMIS and the MediSpend global compliance and transparency solutions, please visit: www.mmis-inc.com.
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