BALA CYNWYD, Pa., April 18, 2011 /PRNewswire/ — Susquehanna
Growth Equity, LLC (SGE) today announced that it has acquired
MediMedia Information Technologies, LLC (MMIT), a provider of
managed care information for the healthcare industry.
MMIT engages in the collection, consolidation, and
interpretation of pharmaceutical and healthcare information from
health plans to meet the needs of healthcare decision makers in
managed markets. In addition, it offers data collection, analysis,
and related services to the managed care marketplace.
“MMIT is a leader in the area of formulary information
management, a position we intend to leverage with a plan of
enhancing the company’s platform through the addition of adjacent
data sets and front-end analytic capabilities,” said Scott Feldman
of Susquehanna Growth Equity. “In an environment of increasing
regulatory reform and cost consciousness, pharmaceutical companies,
insurance plans, and providers continue to demand more
comprehensive sources of managed care information. MMIT has been
the leader in this space for the past decade and is extremely
well-positioned to meet the growing needs of this marketplace. Mr.
Feldman along with Vincenzo La Ruffa and Amir Goldman will be
joining the company’s board of directors.”
MMIT has been led by a dedicated team of healthcare
professionals for the last decade. All employees will remain with
the company. Martin Caron will continue to serve as President and
Chief Executive Officer. As part of the transaction, Ronald Berg
has joined as Chief Operating Officer and Chief Financial Officer.
Mr. Berg previously served in senior executive roles at RadPharm,
Idealab, Deja.com, and Infonautics. Thomas Gardner has also joined
the team as Chairman of the Board. Mr. Gardner has been an
executive, investor, and advisor in the healthcare industry since
1970, and has served in senior roles at Johnson & Johnson, the
Dun & Bradstreet Corporation, and IMS Health.