MediMedia Information Technologies, a Yardley, Pa.-based provider of managed care information for the healthcare industry, has been acquired by Susquehanna Growth Equity for an undisclosed sum.
Following the transaction, Scott Feldman along with Vincenzo La Ruffa and Amir Goldman of Susquehanna Growth Equity will join the company’s board of directors. All employees will remain with MediMedia and Martin Caron will continue to serve as President and CEO.
As part of the acquisition, Ronald Berg has joined as COO and CFO and Thomas Gardner joined the team as Chairman of the Board.
As stated by Mr. Caron, SGE’s investment will help MediMedia accelerate its development efforts.
Founded in 1994, MMIT provides plan-specific and managed care formulary information to pharmaceutical, health insurance, and electronic prescribing companies. Its solutions are all built around a central formulary database integrating data from managed care organizations, pharmacy benefit managers, health maintenance organizations, preferred provider organizations, state Medicaid plans, over 1000 Medicare Part D plans, and self-insured employer plans.