CIC Partners Announces Investment in OmniSYS, the Market Leader in Providing Solutions to Pharmacy-Related Medical Benefit Claims
Last month, CIC Partners partnered with OmniSYS Founder and CEO Dr. Jerry Ransom in a recapitalization of the company. The investment positions the 25-year-old company to accelerate its growth.
“By backing the industry-leading management team and leveraging the experience of two CIC Operating Partners, we believe OmniSYS will contribute to CIC’s streak of exceptional returns,” said CIC General Partner Drew Johnson.
Headquartered near Dallas, TX, OmniSYS is the market leader in processing medical benefit claims covered under Medicare Part B for retail, specialty, managed care, mail-order and home-delivery pharmacies. OmniSYS enables clients to effectively meet complex billing, revenue cycle management, medical necessity and utilization requirements for select classes of prescription and specialty drugs and medical supplies.
OmniSYS’ customer base includes more than 20,000 pharmacies across the U.S. Each month, it processes over two million claims on behalf of its pharmacy customers.
“I chose to partner with CIC because of their proven investment record and their ability to help OmniSYS realize its full potential,” said Dr. Ransom. “CIC’s partner base includes experienced healthcare industry insiders who will serve as valuable advisors to OmniSYS.”
To assist Dr. Ransom and his management team in growing OmniSYS, CIC has tapped two of its operating partners, both well-respected healthcare industry veterans. Ed Wristen, former CEO of First Health (NYSE: FHCC), will serve as Chairman of OmniSYS and Jim Smith, founder of First Health and Chairman of the Gartner Group (NYSE: IT), will serve on the company’s board of directors.
“I am excited to work with Dr. Ransom and CIC to help OmniSYS prosper and grow,” said Ed Wristen. “This industry is evolving rapidly, and there is tremendous opportunity for OmniSYS to add value and grow.”
“During the bidding and diligence phases of the auction CIC set itself apart from the competition by positioning itself as knowledgeable and efficient and demonstrated a value-added approach,” said Allen Custard, Managing Director of First Southwest Company and the investment banker on the transaction. “It is clear that CIC is well-positioned to help operators in the healthcare industry achieve extraordinary success.”