MediTract Recapitalizes through Investments Made by Tudor
Ventures and GE Healthcare Financial Services
Investment Powerhouses Align with MediTract®
to Expand Contract Management Business
SADDLE BROOK, N.J. — July 23, 2007 — MediTract, Inc., the leading contract management
service provider exclusively serving the healthcare industry, today announced a recapitalization through investments
made by Tudor Ventures and GE Healthcare Financial Services. The two firms will join a group led by MediTract’s Chairman
and CEO, Thomas A. Rizk, as principal owners of a new holding company for MediTract, Inc. Financial terms of the
agreement have not been disclosed. MediTract was represented in this transaction by the investment banking firm of
Shattuck Hammond Partners LLC.
MediTract currently provides contract management services to the U.S. healthcare
provider market and serves more than 4,000 healthcare facilities and over 40,000 users across the United States.
The new alliance will allow MediTract to enhance its sales and marketing efforts through a substantial increase
in the size of its U.S. sales force. In addition, Tudor Ventures will support the Company’s efforts to expand its
reach into several related, vertical markets including financial services and real estate
“We are impressed with how MediTract has become a significant player in a rapidly growing
marketplace,” said Carmen Scarpa, managing director of Tudor Ventures. “We look forward to teaming with the Company
and using its patented TractManager® technology to serve other industries that have similar administrative and financial
challenges to the healthcare industry.”
As a result of MediTract’s new relationship with GE Healthcare Financial Services, the
Company can now tap into GE’s “At the Customer For the Customer” program which uses the application of best
practices to assist customers in tackling business challenges.
“We were able to combine our financial expertise with our healthcare experience
to provide a unique financial solution for MediTract,” said Bob McCarrick, senior managing director of GE Healthcare
Financial Services’ Corporate Finance group. “GE HFS is committed to providing companies like MediTract with financial
solutions that will help them achieve their goals.”
“Our management team is extremely enthusiastic about aligning with one of the largest
alternative investment groups in the world and the leading provider of financial services to the healthcare
industry,” said Rizk. “The team of MediTract, Tudor Ventures and GE Healthcare Financial Services will prove to
be a powerful force in the marketplace.”
About MediTract, Inc.
MediTract (www.meditract.com)
is the leading contract management service provider serving the healthcare industry
exclusively, and currently works with hundreds of hospitals and healthcare systems at thousands of locations
nationwide. MediTract was founded in 2000 by healthcare executives who have an in-depth knowledge of how both
providers and payers prioritize their physician and supplier contracts and monitor contract compliance.
The company’s solutions help healthcare professionals regain control of their contracts and reduce the cost of
doing business by providing the tools necessary to improve management's visibility of contractual obligations,
enhance compliance and streamline workflow.
About Tudor Ventures
Tudor Ventures, established in 1996, is the venture capital and private equity arm of Tudor
Investment Corporation, an internationally recognized, diversified investment management firm with total assets under
management in excess of $20 billion. Tudor Ventures manages approximately $700 million in equity commitments and has invested
over $400 million in 47 companies. Tudor Ventures invests in information technology and rapidly growing companies providing capital
for expansion, acquisition and founder liquidity. For more information about Tudor Ventures, visit www.tudorventures.com.
About GE Healthcare Financial Services
GE Healthcare Financial Services is a provider of capital, financial solutions and related services for the global
healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full
range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition
financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physician’s practices and life sciences,
GE Healthcare Financial Services works with customer to create tailored financial solutions that help them improve their productivity and
profitability. For more information, visit www.gehealthcarefinance.com.
Press contact information:
Michael Beckerman, Beckerman Public Relations, (908) 781-6420
mbeckerman@beckermanpr.com
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