TRICAST’s services – marketed under the brand name Reveal – are used by pharmacies to comply with Centers for Medicare & Medicaid Services (CMS) regulations and to generate data that can be used to lower costs through reduction of fraud, waste and abuse. TRICAST is headquartered in Milwaukee (www.tricast.com).
This investment will be used by TRICAST to develop new modules for the company’s SaaS software platform and to expand the sales and on-boarding (employee education and training) function to drive additional growth. “This is an exciting next step in the evolution of TRICAST,” said CEO Greg Rucinski. “The support of our investors will enable us to increase our pace of growth, accelerate our development efforts and devote more resources to providing an outstanding customer experience.”
Blue Heron Capital makes growth and buyout investments in lower middle market companies. Sectors of interest include healthcare; IT and physical security; and business services. The firm is based in Richmond, VA (www.blueheroncap.com).
“We are seeing a historic change in healthcare and believe costs must be contained,” said Andrew Tichenor, a Partner at Blue Heron Capital. “Through our operational expertise, Blue Heron Capital looks forward to helping TRICAST identify and remedy the significant fraud and waste that occurs in the pharmacy benefit space.”
Brook Venture Partners, based north of Boston in Wakefield, MA, co-invested with Blue Heron on this investment (www.brookventure.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-15-15