Partnership to Fuel Product and Market Growth for Healthcare Contract Lifecycle Management Technology Leader
MENLO PARK, Calif. & CHATTANOOGA, Tenn.–(BUSINESS WIRE)–Ntracts, a leading contract lifecycle management solution for healthcare organizations, today announced a significant capital investment from Accel-KKR, a global technology-focused private equity firm. The investment will help Ntracts accelerate its go-to-market strategies and continue to seek to lead the market with product innovations.
Ntracts’ CEO, David Paschall, said, “We are thrilled to have Accel-KKR as our partner as we enter a new phase of growth and innovation. Their extensive background in healthcare IT investing and operating resources will be invaluable as we work to bring more innovation around our core offering and to further strengthen our client partnerships.”
The average-sized community hospital spends $7.6 million annually on administrative activities related to regulatory compliance and even more in fines if they experience a violation. With complex and often changing government regulations, healthcare organizations must take action to ensure regulatory and organizational compliance. Additionally, they continue to face the need to improve efficiencies and cut operational expenses as healthcare organizations lose an estimated 9% on average of annual revenue due to contract mismanagement.
Ntracts’ Contract Lifecycle Management solution supports clients’ full visibility into their contracts, increases efficiencies with workflow automation, provides advanced contract data reporting, and mitigates compliance risk. Furthermore, Ntracts’ implementation roadmap emphasizes partnership and collaboration with each client, and Ntracts takes on the full responsibility of each implementation.
The investment is part of Accel-KKR’s continued commitment to investing in innovative software companies that are driving digital transformation throughout the healthcare industry. Ntracts’ contract management software is designed to help healthcare organizations streamline their contract management processes, minimize regulatory exposure, and identify cost savings.
“We are excited to partner with Ntracts and support their growth as they continue to innovate and drive value for their customers,” said Phil Cunningham, Managing Director at Accel-KKR. “Ntracts’ contract management software is a powerful tool that can help healthcare organizations of all sizes manage their contracts more efficiently and effectively.”
Brentwood Capital Advisors acted as exclusive financial advisor to Ntracts.
Ntracts is a leading contract lifecycle management solution for healthcare organizations across the country. Driven by the expertise of dedicated contract compliance professionals, and founded by a leading healthcare law firm, Hall Render, Ntracts has provided best-in-class, healthcare-focused contract lifecycle management solutions for over 30 years. Visit ntracts.com to learn more.
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London, and Mexico City. Visit accel-kkr.com to learn more.