CredSimple, which is backed by Questa Capital, Windham Venture Partners and Primary Ventures, has acquired Glenridge Health. No financial terms were disclosed. Based in Columbia, Maryland, Glenridge Health is a technology-enabled provider network management solutions company.
NEW YORK, Jan. 13, 2020 /PRNewswire/ — CredSimple, the leading cloud-based healthcare credential verification organization, today announced the acquisition of Glenridge Health, a premier technology-enabled provider network management solutions company. This acquisition strategically expands CredSimple’s capabilities to include comprehensive provider network development and management services. It also marks a critical investment towards offering CredSimple customers a more vertically integrated and streamlined solution that will allow them to efficiently analyze, build, and manage their networks, while mitigating the burden of provider credentialing through automation.
Through this acquisition, CredSimple will combine its National Committee for Quality Assurance (NCQA) certified Credentialing Verification Cloud (CVC) platform, which eliminates credentialing backlogs and significantly improves credentialing turnaround times, with Glenridge Health’s proprietary network management technology to successfully build and manage provider networks that are compliant, efficient, and aligned to the health plans strategic goals. This integrated solution will assist with local, regional, and national health plans in reducing costs and improving outcomes for beneficiaries across the country. In addition, providers stand to benefit as the combined company will now be able to offer a more streamlined and comprehensive approach for enrollment and ongoing directory maintenance.
Mike Simmons, Founder and Chief Executive Officer at CredSimple, said, “CredSimple has achieved substantial growth over the last three years as we seek to revolutionize the credentialing process for the industry through our game-changing CVC platform. However, in working with our customers and analyzing the industry at large, we believe more is needed to truly serve our client’s growing need for an enterprise level solution. We’re excited to be joining forces with the Glenridge Health team who have also seen strong growth over the past few years. It is an exciting next step in our long-term vision to build an industry leader that payers and providers can rely on to build, run and optimize their provider networks all through an integrated technology-enabled offering.”
CredSimple serves a wide range of customers from start-ups to large integrated health plans, independent physician associations, telehealth companies, and other healthcare organizations that manage provider networks. The combined company leverages deep domain expertise needed to build, run, and optimize provider networks, including Glenridge’s experience in the Medicaid Managed Care and Medicare Advantage space for further market penetration. CredSimple will now serve over 70 clients with that number expected to expand rapidly over the next year.
“At Glenridge Health, we’ve been committed to analyzing new markets for health plans, recruiting and contracting provider networks, and providing our clients with best-in-class network management solutions throughout the provider network lifecycle,” said Karen Ferrell, Executive Chairman and Chief Executive Officer of Glenridge Health. “We look forward to leveraging the strength of CredSimple’s technology. The sophisticated data platform and fully integrated cloud-based credentialing process CredSimple has developed will enhance Glenridge Health’s innovative network analytics, tools, and dashboards required to effectively build, run, and optimize provider networks.”
Ferrell will bring her 30 years of industry experience to CredSimple’s Board of Directors and will serve as strategic advisor to CredSimple moving forward. Mike Simmons will remain as the CEO of CredSimple and will oversee the scale of its platform offerings to enhance the network management experience for all clients.
For more information, please visit CredSimple.com
CredSimple is a cloud-based healthcare credential verification organization that serves health plans, independent physician associations, telehealth companies, and healthcare organizations that manage provider networks. Its Credential Verification Cloud (CVC) platform enables healthcare organizations to address, manage and monitor their compliance needs around credentialing. CredSimple was founded in 2013, is headquartered in New York and a portfolio company of Questa Capital, Windham Venture Partners, and Primary Ventures. For more information visit www.credsimple.com
About Glenridge Health
Glenridge Health utilizes proprietary technology and subject matter expertise to build and manage provider networks that control costs, ensure compliance and deliver value for local, regional and national health plans. The company has established successful provider networks in 35 states for health plan products including commercial, Medicare Advantage, Medicaid, Duals (MMP), LTSS/HCBS, ISNP and DSNP, as well as specialty networks including dental, behavioral and workers’ compensation. Glenridge Health is headquartered in Columbia, MD. For more information visit www.glenridgehealth.com