MediTract Recapitalizes through Investments Made by Tudor Ventures and GE Healthcare Financial Services

SADDLE BROOK, N.J.--(BUSINESS WIRE)--MediTract, Inc., the leading contract management service provider exclusively serving the healthcare industry, today announced a recapitalization through investments made by Tudor Ventures and GE Healthcare Financial Services. The two firms will join a group led by MediTract’s Chairman and CEO, Thomas A. Rizk, as principal owners of a new holding company for MediTract, Inc. Financial terms of the agreement have not been disclosed. MediTract was represented in this transaction by the investment banking firm of Shattuck Hammond Partners LLC.

“We were able to combine our financial expertise with our healthcare experience to provide a unique financial solution for MediTract”

MediTract currently provides contract management services to the U.S. healthcare provider market and serves more than 4,000 healthcare facilities and over 40,000 users across the United States. The new alliance will allow MediTract to enhance its sales and marketing efforts through a substantial increase in the size of its U.S. sales force. In addition, Tudor Ventures will support the Company’s efforts to expand its reach into several related, vertical markets including financial services and real estate.

“We are impressed with how MediTract has become a significant player in a rapidly growing marketplace,” said Carmen Scarpa, managing director of Tudor Ventures. “We look forward to teaming with the Company and using its patented TractManager® technology to serve other industries that have similar administrative and financial challenges to the healthcare industry.”

As a result of MediTract’s new relationship with GE Healthcare Financial Services, the Company can now tap into GE’s “At the Customer For the Customer” program which uses the application of best practices to assist customers in tackling business challenges.

“We were able to combine our financial expertise with our healthcare experience to provide a unique financial solution for MediTract,” said Bob McCarrick, senior managing director of GE Healthcare Financial Services’ Corporate Finance group. “GE HFS is committed to providing companies like MediTract with financial solutions that will help them achieve their goals.”

“Our management team is extremely enthusiastic about aligning with one of the largest alternative investment groups in the world and the leading provider of financial services to the healthcare industry,” said Rizk. “The team of MediTract, Tudor Ventures and GE Healthcare Financial Services will prove to be a powerful force in the marketplace.”

About MediTract, Inc.

MediTract (www.meditract.com) is the leading contract management service provider serving the healthcare industry exclusively, and currently works with hundreds of hospitals and healthcare systems at thousands of locations nationwide. MediTract was founded in 2000 by healthcare executives who have an in-depth knowledge of how both providers and payers prioritize their physician and supplier contracts and monitor contract compliance. The company’s solutions help healthcare professionals regain control of their contracts and reduce the cost of doing business by providing the tools necessary to improve management's visibility of contractual obligations, enhance compliance and streamline workflow.

About Tudor Ventures

Tudor Ventures, established in 1996, is the venture capital and private equity arm of Tudor Investment Corporation, an internationally recognized, diversified investment management firm with total assets under management in excess of $20 billion. Tudor Ventures manages approximately $700 million in equity commitments and has invested over $400 million in 47 companies. Tudor Ventures invests in information technology and rapidly growing companies providing capital for expansion, acquisition and founder liquidity. For more information about Tudor Ventures, visit www.tudorventures.com.

About GE Healthcare Financial Services

GE Healthcare Financial Services is a provider of capital, financial solutions and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physician’s practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.