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GTCR teams with healthcare ace Snow to launch IT analytics business Cedar Gate

14 Aug 2014

it healthUS private equity house GTCR has agreed to invest up to $200m as it teams up with healthcare veteran David Snow to launch IT business Cedar Gate Technologies.

The Connecticut-headquartered company will focus on buying healthcare IT businesses as part of a strategy to build a market leading data and analytics company.

Snow, who will serve as chairman and CEO, plans to invest up to $20m in the business.

He said, “I am thrilled to have the opportunity to work with GTCR to build Cedar Gate Technologies into an industry leader in the healthcare data and analytics space.

“The U.S. medical delivery system is undergoing a dramatic and difficult transformation from fee for-service to risk-based reimbursement.

“Our goal is to enable these at-risk providers and employers to make the successful transition to risk-based reimbursement through powerful predictive and prescriptive analytic software, built specifically for the management of financial and clinical risk.”

GTCR managing director Dean Mihas said, “We are very excited to partner with Dave to build a leading company in the healthcare IT industry.

“Dave has an exceptional track record over his career, with diverse experience in multiple healthcare segments and a history of driving organic and M&A growth.

“Dave’s industry expertise, strategic vision and operational abilities make him an ideal partner as GTCR commits to building a platform in this rapidly evolving industry.”

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