Berkery Noyes Advises Verisys’ Shareholders on the Company’s Growth Investment from Spectrum Equity and Cressey & Company
March 15, 2017
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Berkery, Noyes & Co, LLC. is pleased to announce that it has advised the shareholders of Verisys Corporation, a leading provider of technology solutions and primary-source data on health care professionals and businesses, on the Company’s growth investment from Spectrum Equity and Cressey & Company. The investment positions Verisys, which has long been considered the “gold standard” in healthcare provider compliance and risk management data, to accelerate platform and product investment initiatives, and to continue to execute on a highly successful growth strategy.
Verisys’ mission is to serve the healthcare sector with accurate and timely data on persons, professionals and businesses (for contracting, privileging, employment, reimbursement and referral validation). Verisys’ solutions ensure regulatory compliance and prevent healthcare waste, abuse and fraud. Verisys’ products and services include provider data and content, credentialing, primary-source verification services, screening, monitoring and notification services, identity/authentication tied to credentials management and regulatory compliance products and services. Verisys’ flagship product, FACIS®, is the gold standard for exclusion screening in the healthcare field and its SaaS credentialing platform, exclusively endorsed by the American Hospital Association, CheckMedic®, represents a breakthrough in credentialing. Verisys is a NCQA certified and URAC accredited Credentials Verification Organization.
John Benson, co-founder and CEO of Verisys said: “We chose Tom O’Connor and Berkery because of Tom’s impeccable reputation and the quality of his team. They zealously represented and stayed with us through every up and down during the deal process. The Berkery team was professional and on top of each step and detail. If something needed to get done, it got done quickly, efficiently and with exacting precision. They achieved a fantastic result on behalf of the Verisys founders and we couldn’t have been more pleased. Deals are tough and Tom O’Connor and the Berkery team were tougher. As a result of tremendous effort they got the deal done and the outcome was stellar.”
John O’Shaughnessy, co-founder of Verisys said: “I was delighted with the level of professional commitment of the Berkery Noyes team, both in terms of their knowledge of the market and focus on the details of our business, as well as their integrity throughout the process. In other words, their commitment was not just to getting the deal done but making sure that the right deal for all parties was the deal that got done. Finally, from the seller’s point of view, we were always grateful for their leadership.”