INDIANAPOLIS--(BUSINESS WIRE)--Navidar is pleased to announce that our client, PolicyStat LLC, has been acquired by iContracts, a leading provider of cloud-based contract, compliance, and revenue management solutions.
Founded in 2007, PolicyStat’s solution increases productivity while simultaneously enhancing quality and compliance management for customers, including hospitals, labs, ambulatory surgery centers, integrated health networks, and a host of other facility types across several markets. The Company’s cloud-based offering enables quick customer deployment by both minimizing IT staff involvement and providing vital implementation services.
The combination of the two rapidly growing companies creates a unique entity focused on helping companies manage the most critical aspects of any business—revenue management, contract management, compliance across these, and many other high risk business processes.
“We were extremely impressed with Navidar's creativity in the way that they told the Policystat story to buyers and believe that this led to an excellent valuation and outstanding result. The Navidar team also made valuable operational recommendations which further strengthened our business model and value. Navidar’s presence in and focus on Indianapolis is a real asset for our local technology ecosystem." said Steve Ehrlich, President of PolicyStat.
"The PolicyStat team created a highly differentiated SaaS business model utilizing proprietary technology that enabled them to grow rapidly while raising a minimal amount of capital. Its successful exit bodes well for other Indianapolis SaaS businesses by presenting a template to follow. PolicyStat represents an excellent example of how the state of Indiana can partner financially with the technology industry to create a win-win for all,” said Stephen Day, Co-founder and Managing Director of Navidar.
Navidar Holdco LLC, with a presence in Austin, Cleveland, Dallas, Denver, Indianapolis, Minneapolis and San Antonio, is an investment banking firm that provides businesses and investors in dynamic industries with strategic merger and acquisition advice, capital raising solutions and corporate advisory services. The firm focuses on SaaS software, eCommerce & Internet, IT and engineering services, specialty manufacturing, and health care information technology companies. Navidar principals have completed more than 300 transactions representing transaction volume of nearly $70 billion in M&A and capital raising, for both private and public companies, over the past 20 years. Navidar Group LLC, a wholly owned subsidiary, is a broker-dealer that is registered with FINRA and SIPC. To learn more about Navidar, please visit www.navidar.com.