Valify Announces the Acquisition of Lucro
As Published in BUSINESS WIRE, September 16th, 2018.
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.”
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
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.