Ntracts Acquires Compliatric to Enhance Healthcare Compliance Support
Ntracts, a leader in contract lifecycle management (CLM) solutions for the healthcare industry, announced today the acquisition of Compliatric, a provider of regulatory, accreditation, and compliance management technology for healthcare organizations. This strategic acquisition enhances Ntracts’ commitment to delivering a comprehensive, end-to-end solution for both contracting and compliance management. It also marks Ntracts’ first acquisition since receiving majority investment in 2023 from Accel-KKR, a global software-focused investment firm.
Ntracts, a leader in contract lifecycle management (CLM) solutions for healthcare organizations, has announced the acquisition of Compliatric, a provider of regulatory, accreditation, and compliance management technology for healthcare organizations. This strategic acquisition marks a significant step in Ntracts’ mission to offer a comprehensive, end-to-end solution for both contract management and compliance. The deal also represents Ntracts’ first acquisition since receiving majority investment from Accel-KKR, a global software-focused investment firm, in 2023.
Healthcare organizations must continually navigate the complex landscape of regulatory requirements, maintaining compliance to ensure patient care quality, meet accreditation standards, and manage governance, risk, and compliance (GRC) activities. These include conducting exclusion checks on vendors, providers, and employees, ensuring policies are up-to-date and accessible, reporting and managing incidents, and fulfilling a wide array of other compliance-related tasks. The challenge lies in efficiently managing these critical activities, which are often supported by disparate and outdated tools.
“The rigorous nature of regulatory requirements means that administrative compliance tasks are closely linked with contract lifecycle management,” said David Paschall, CEO of Ntracts. “Partnering with Compliatric allows us to better deliver on that need. By combining our solutions and complementary expertise, we are strengthening our ability to support clients in managing the full spectrum of their contracting and compliance needs.”
Many healthcare organizations face significant challenges when managing compliance and accreditation. With multiple, siloed tools and processes in place, the task of managing, onboarding, and training employees becomes cumbersome. Compliatric’s solution solves this problem with its all-in-one, integrated platform designed by healthcare compliance experts. Their mission is to simplify compliance tasks, make them more efficient, and create strategic advantages for their clients.
With the integration of Compliatric’s tools, Ntracts is poised to further streamline the management of both contracting and compliance, backed by healthcare-specific best practices and unparalleled customer support. The combined company will offer clients expanded capabilities that not only simplify contract origination, automation, and tracking but also ensure compliance with the ever-evolving regulatory environment. These solutions will help healthcare organizations identify inefficiencies, mitigate compliance and financial risks, and enhance operational efficiency.
“Since our founding in 2014, Compliatric has been dedicated to simplifying healthcare compliance and accreditation management,” said Dave Monaghan, CEO of Compliatric. “Joining forces with Ntracts takes our mission to the next level. We can now offer healthcare organizations a more integrated approach to managing contracts, compliance, risk, and governance. Our clients will benefit from expanded capabilities, deeper insights, and a more streamlined experience through a unified partner.”
Healthcare organizations are increasingly recognizing the need for streamlined solutions that can handle the complexity of regulatory and compliance tasks. By combining the strengths of Ntracts’ CLM capabilities with Compliatric’s expertise in accreditation, compliance, and governance, the merged company is better positioned to meet this need. Healthcare organizations will gain access to a unified platform that addresses both contracting and compliance management in a more holistic and efficient manner.
Clients of the combined company will benefit from a broader suite of tools that reduce the administrative burden, allowing them to focus on strategic initiatives and patient care. The integrated solutions will help healthcare organizations stay ahead of regulatory changes, improve operational efficiency, and ensure that compliance risks are identified and mitigated before they become significant issues. The ability to track contracts, manage compliance documentation, and ensure continuous governance in one unified platform will be a significant asset to healthcare providers.
Ntracts’ commitment to providing best-in-class solutions for healthcare organizations remains a core part of the company’s mission. With over 30 years of experience in optimizing contract lifecycle management for hospitals and healthcare systems, Ntracts has built a reputation for excellence in the healthcare sector. Its platform accelerates the contracting process by facilitating contract origination, automatically routing contract requests, and notifying responsible parties about performance milestones and contract expiration dates. Ntracts also offers robust reporting tools for compliance, auditing, and tracking, helping healthcare organizations manage their contracts with ease.
The acquisition of Compliatric enhances Ntracts’ ability to serve the evolving needs of healthcare organizations, enabling the company to offer a fully integrated solution for managing contracts, compliance, risk, and accreditation. The combination of both companies’ expertise and technologies represents a major step forward in streamlining administrative processes within healthcare, ultimately helping organizations operate more efficiently and effectively.
Healthcare Growth Partners served as the exclusive financial advisor to Compliatric in the transaction, though the terms of the deal have not been disclosed. With this acquisition, Ntracts is positioned to expand its footprint in the healthcare industry and further solidify its role as a leader in contract lifecycle and compliance management solutions.
