iContracts Acquires PolicyMedical
July 6, 2018
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Combination further extends focus, commitment, and leadership in helping health care entities manage compliance
Bridgewater, NJ – July 6, 2018 – iContracts, a leading provider of cloud-based contract, compliance, and revenue management solutions today announced that it has acquired Toronto, Canada based PolicyMedical, an industry-leading provider of cloud-based policy lifecycle management solutions. The combination of PolicyMedical with iContract’s industry leading PolicyStat solution extends the company’s leadership position in healthcare policy and compliance management, serving well over 1,400 unique customers across more than 11,000 facilities.
Founded in 2002, PolicyMedical’s solutions increase productivity while simultaneously enhancing quality and compliance management. PolicyMedical’s completely cloud-based offerings enable short customer deployment timelines by both minimizing IT staff involvement and providing vital implementation services.
“It’s been an incredible 16-year journey,” said Saud Juman, Chief Executive Officer of PolicyMedical. “The realization of my vision to deliver health and happiness to healthcare professionals through best of breed solutions and a world-class customer experience has been very gratifying. We are very excited to join forces with iContracts to continue providing front-line caregivers with solutions that allow them to focus on patient care, not administrative tasks. I look forward to watching the next chapter unfold.”
“PolicyMedical was founded and nurtured with a clear focus on helping healthcare entities and ultimately patients by ensuring that policies and procedures are effectively managed, shared, and evaluated for effectiveness. The company has been driven by the principal of always doing what’s in the best interest of the customer and has remained true to that tenant for the past sixteen years,” commented Leigh Powell, Chief Executive Officer of iContracts. “We welcome the employees and customers of PolicyMedical to the iContract’s family and look forward to innovating and growing together.”
Berkery Noyes acted as exclusive financial advisor to PolicyMedical.
iContracts’ goal is simple – to deliver better solutions for managing contracts, policies, and the revenue cycle that are faster, easier and less expensive to implement. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.
Trusted by more than 300 healthcare organizations, our comprehensive SaaS-based solutions enable organizations to centralize and standardize the administration of policies and procedures, contracts, job descriptions, and third-party vendors. Our customers include some of the world’s largest integrated delivery networks such as Advocate Health Care, Ballad Health, Baylor Scott & White Health, Dignity Health, Kindred Healthcare, and Tenet. To learn more, visit www.policymedical.com.