Austin Dale Group announces the sale of DataWing Software to Citra Health Solutions

Austin Dale Group announces the sale of DataWing Software to Citra Health Solutions

AUSTIN, TX – Austin Dale Group, an Austin, TX-based M&A advisory firm, recently acted as the exclusive sell-side advisor to DataWing Software in their sale to Citra Health Solutions. Great Point Partners is the lead investor in Citra. DataWing Software, a Portland, Oregon-based company, provides software solutions to some of the country’s most respected managed health care organizations. The firm will join Citra Health Solutions, a leading provider of connected solutions for the clinical, financial and administrative requirements of healthcare providers, payers and employers. The acquisition strengthens Citra’s expertise and capabilities for the healthcare industry and adds value to the solutions they provide for EZ-CAP® clients, as well as those using other claims and benefits administration tools. Jerry Porter, Founder and President of DataWing, said “We are excited to enhance Citra’s value proposition by combining our capabilities. The future is very bright for both DataWing and Citra customers. “

 

This acquisition marks Austin Dale Group’s second successful engagement in the Healthcare / Revenue Cycle Management space in the past year. “DataWing Software has provided outstanding tools, customer service, and ROI for many years. We expect the DataWing team and their customers will continue to flourish with Citra” says Bob Dale, Partner at Austin Dale Group. The Austin Dale team regularly publishes relevant articles and blogs, disseminating industry trends and lessons learned. “My advisors at Austin Dale Group were indispensable in managing the sale of my long-held business”, according to Jerry Porter of DataWing. “It was a big comfort having advisors that understand healthcare and could speak the same language with both my team and the buyers.”

 

About Austin Dale Group

Austin Dale Group provides Investment Banking and Advisory Services to the technology, healthcare, and business service industries. Austin Dale Group advises on M&A and private capital transactions and provides valuations and value enhancement services. The team has a long history of working together in selected industries and helping its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by Independent Investment Banking Corp., member FINRA / SIPC. For more information, visit www.austindalegroup.com .

 

About DataWing Software

DataWing Software® has developed several innovative and user-friendly data administration solutions designed specifically for managed health care organizations to improve efficiencies and increase profitability. DataWing’s solutions for eligibility, capitation reconciliation, and information management provide significant returns on investment based on process efficiencies, data accuracy, cost containment and recovery of revenue. For more information, visit www.datawingsoftware.com .

 

About Citra Health Solutions

Citra provides a one-contract, connected solution for clinical, financial and administrative requirements. Solving for the needs of providers, payers, health systems and employers in the transition to value-based care, Citra empowers clients with proven technology, population health, analytics, care management, and administrative services to strategically expand market opportunity, diversify revenue streams, lower the cost of care, and improve quality. Citra currently serves 6 of the top 7 Health Plans; 7 Fortune 500 Companies; 50+ IPAs and MSOs managing commercial, Medicare and Medicaid populations; 100+ Provider Groups, Hospitals, Universities and Integrated Delivery Networks throughout the United States and in Puerto Rico. For more information, visit www.citrahealth.com .

 

About Great Point Partners

Great Point Partners is a leading healthcare investment firm with approximately $1.1 billion of equity capital currently under management, investing in the United States, Canada, and Western Europe. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing healthcare companies. The private equity funds invest across all sectors of the healthcare industry with an emphasis on biopharmaceutical services and supplies, outsourcing and alternate site care, pharmaceutical infrastructure and information technology-enabled businesses. For more information, visit www.gppfunds.com .