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Cross Atlantic Capital Partners exits HMS

Cross Atlantic Capital Partners (XACP) has completed the exit of its investment in Health Market Science (HMS) with LexisNexis Risk Solutions to acquire the supplier of health care professional data.

“Cross Atlantic Capital Partners’ investment, completed in 2010, allowed HMS to invest heavily in its technology platform which enabled us to grow at a much faster pace,” says Matt Reichert, Health Market Science CEO. “We want to thank the Cross Atlantic team (Richard Fox, Director & Chairman of the Compensation Committee, and Carter Caldwell, Board Observer) for their contributions and for being helpful guides in that effort.”

Headquartered in King of Prussia, PA, HMS is a leading supplier of high-quality data on health care professionals and medical claims in the US With this acquisition, HMS’s proprietary data will be added to LexisNexis’ suite of data management solutions and included on its open source, big data processing platform called HPCC Systems, which is one of the most advanced, and fast-performing big data processing technologies available.

LexisNexis, together with HMS, will deliver best-in-class data and data linking capabilities to help address complex challenges, such as regulatory compliance, rising health care costs, coordination of care, provider performance and fraud, waste and abuse (FWA) that are driven by inaccurate information about doctors, hospitals and health systems. The combined LexisNexis and HMS datasets will result in one of the world’s largest health care provider databases.

In addition to the profitable exit of HMS, XACP also successfully exited its position in National Diversified Sales, Inc. to a subsidiary of a German strategic acquirer. That transaction closed last month.

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