Susquehanna Growth Equity acquires majority share in MediSpend
Portsmouth firm looks at ‘next stage of growth’
Susquehanna Growth Equity has acquired a majority share of MediSpend, a Portsmouth-based tech firm that specializes in the life sciences industry. Financial terms of the investment were not disclosed.
The new partnership will accelerate MediSpend’s product and client expansion across the broader life sciences industry, according to Craig Hauben, CEO of the firm.
“We are incredibly excited to partner with the Susquehanna Growth Equity team as we advance into our next stage of company growth,” said Hauben. “This partnership will promote investments across the company as we expand our product offering to continue our mission to help ensure end-to-end compliance for our customers.”
As part of the transaction, Scott Feldman, managing director at Susquehanna, will join MediSpend CEO, Craig Hauben, and existing investors Steve Eaton and Dave Cormack on the board of directors.
Bala Cynwyd, Pa.-based Susquehanna’s previous investments across the broader healthcare vertical include Evive, HMP Global, iContracts, MMIT, ProviderTrust and RLDatix.