Contract Management Solution Provider Generates 4.5X Return
PRINCETON, NJ, December 23, 2015 – Edison Partners announced the successful exit of iContracts. With the sale of the firm’s ownership position, Edison generated a 4.5X return on its investment.
Based in Bridgewater, NJ, iContracts provides contract, compliance and revenue management solutions for a variety of industries, including life sciences, healthcare, and education.
“Leigh Powell’s vision and product innovation fueled the company’s ability to effectively penetrate the demanding healthcare and life sciences market. The management team’s attention to quality, service and execution have been instrumental to the company’s success,” said Chris Sugden, Managing Partner of Edison Partners. “We wish them continued success with their new partners, and thank Edison Director Network members Jeff Kozloff, Jeff Klein and Flint Lane for their guidance and service as iContracts board members.”
“The guidance and support of the Edison team has been a constant over the years,” said Leigh Powell, CEO of iContracts. “We are extremely appreciative of their contribution to the growth of our company and pleased to provide a strong return.”
Edison has invested in and guided more than 20 Healthcare Information Technology businesses. Noteworthy exits include CambridgeSoft, Cadient, Dendrite, DiagnosisOne, Health Market Science, InnaPhase, Octagon, POMs, Portico and Taratec. Current Healthcare IT portfolio companies include ClearPoint, Clinverse, Lincor Solutions, PHX and TrialScope.
iContracts’ comprehensive suite of fully integrated cloud-based solutions helps companies improve collaboration, expand visibility, reduce costs, stop revenue leakage and optimize performance. Powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by understanding a few core concepts, iContracts solutions are backed by the most highly evolved cloud-based architecture in the industry, built by technologists with extensive contract management experience. iContracts comprehensive suite of solutions revolutionize how organizations think about and manage all aspects of a company’s contract management process, transforming it from an unwieldy collection of spreadsheets, customer applications, filing cabinets, and scattered electronic directories to a powerful tool that aligns strategy with execution, while simultaneously insuring greater visibility into commitments and the ability of companies to support growing needs for regulatory reporting and audits. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers.
About Edison Partners
For 29 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.