Valify Announces the Acquisition of Lucro

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FRISCO, Texas & NASHVILLE–(BUSINESS WIRE)–#healthcaresoftware–Valify, the leading healthcare cost management company exclusively
dedicated to controlling purchased services expense, announced today
that it has acquired Lucro Solutions, Inc., a Nashville-based digital
platform for health systems to compare and select vendors.

“We are excited to integrate Lucro’s platform which aligns with and
fortifies Valify’s existing features. Lucro has built an innovative,
easy-to-use technology platform that automates how all buyers across a
healthcare system evaluate and select their vendor partners,” said Chris
Heckler, Chief Executive Officer of Valify. “This transaction extends
and enhances our ability to operate a marketplace, enabling our
healthcare system customers to effortlessly collaborate with vendors,
saving time and increasing bandwidth to realize additional cost savings
through Valify’s technology.”

Valify offers healthcare systems a suite of technology and services that
targets, prioritizes, and manages areas for cost reduction through spend
visibility, benchmark comparisons, and advisory services. Lucro operates
a marketplace platform, applying an innovative approach to collaboration
among buyers and sellers. The integration of Lucro into Valify’s digital
RFP and market share technology reinforces powerful health system and
vendor communication tools and adds robust features to further
accelerate the sourcing process.

“Combining Valify’s visibility and insights with Lucro’s capabilities
gives vendors greater visibility and more partnership opportunities that
fulfill a healthcare provider’s need for balancing cost and quality,”
said Cash Forshee, Founder and Senior Vice President of Lucro.

“The Valify analytics and benchmarking platform already plays an
integral role in identifying and prioritizing savings opportunities
across a healthcare system,” said Les Popiolek, Chief Operating Officer
of Valify. “As pressure continues to increase on their operating
margins, more healthcare providers are focusing their cost reduction
lens on indirect spend. Integrating Lucro’s technology will enable
health systems to engage more internal and external stakeholders,
enabling them to take on more savings initiatives while better
supporting the clinical and operational needs of departments and service
lines across their organizations.”

About Valify

Valify
is the only healthcare cost management company exclusively dedicated to
controlling purchased services expense. Valify’s web-based technology
platform allows healthcare organizations to quickly identify, benchmark,
and manage savings in over 1,200 categories. With proprietary
benchmarking analysis, market share insights, and prebuilt
category-specific RFP templates, Valify provides a proven end-to-end
purchased services solution for organizations to proactively manage
expense, increase staff productivity, and realize significant savings. Getvalify.com

About Lucro

Lucro,
a Nashville-based technology company initially backed by Martin
Ventures
, Heritage
Group
, and Health Insight Capital, a subsidiary of HCA,
is a digital platform created to reinvent the connection between buyers
and sellers outside of supply chain in healthcare. Health systems use
Lucro to reduce the time and cost to make buying decisions about
indirect spend. Lucro matches vendors to healthcare systems that are
actively seeking their products or solutions. Lucro.com

Contacts

Valify
Kelley Miller
Director of Marketing
kelley@getvalify.com
or
Lucro
Jennifer
Renshaw
Director of Marketing
jrenshaw@lucro.com

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