DEERFIELD BEACH, FL – Sentry Data Systems, Inc., the 2014 KLAS Category Leader for 340B Management Solutions and provider of SaaS-based technology solutions that help healthcare providers manage costs, compliance and outcomes, announced today that it has finalized a partnership with ABRY Partners, one of the most experienced and successful private equity investment firms in North America.
While terms of the partnership are not being disclosed, the collaboration positions Sentry for continued development and expansion of its proprietary healthcare technology platform and product offering and prepares Sentry for continued growth. Sentry’s proven platform, designed to scale easily to meet anticipated volumes, has already processed more than 5 billion dispensations on more than 765 million claims and currently provides decision support for more than 66 million patients.
“We’re already well known as a leading provider of 340B management solutions for covered entities and their contract pharmacies, but the platform capabilities we’ve developed extend well beyond pharmacy,” says Travis Leonardi, Sentry’s CEO and Founder. “By partnering with ABRY, and leveraging their services and expertise, we’re in a strategic position to accelerate the expansion of our platform, based on proven ROI models delivered by Sentry’s existing technology.”
“We are excited to be partnering with Travis Leonardi and the rest of the team at Sentry Data Systems,” said Brent Stone, a partner at ABRY. “We believe strongly that they have built a best-in-class healthcare technology platform and with the added financial and management support ABRY can provide, Sentry is well positioned to provide world-class services and expertise to their existing and new clients.”
Sentry’s pharmacy and 340B solutions include Sentinel, for managing hospital pharmacy costs, contracts and compliance, and Sentrex, for managing 340B contract pharmacy relationships. DataNext, the latest extension of Sentry’s technology platform, moves beyond the pharmacy to analyze and report on a hospital’s supply chain, financial and clinical data. But unlike other business intelligence solutions, DataNext is a transformative data analytics, total cost of care and margin management solution that uses automated e-governance workflows to find and fix errors affecting hospital revenue and margins.
“When we developed our technology more than a decade ago, the vision was always to provide hospital leaders with a new view of their costs, margins and outcomes, as well as a cycle of continuous data improvement unique to healthcare IT,” says Leonardi. “Evolving hospital technology systems, processes and payment models have brought the market to the point where hospitals are not able to get what they need from existing analytics solutions. The old model of an EDW, paired with some business intelligence and reporting tools, just doesn’t cut it. Hospitals need actionable, bi-directional data systems, available to hospital management in near real time, in order to identify and act on issues that can decrease costs and improve business outcomes—and that’s exactly what DataNext does.”
To support the growing demand for DataNext, Sentry recently expanded its footprint with a new office in the Milwaukee, Wisc. area, which serves as the business hub of the 25-person strong DataNext team.
About Sentry Data Systems
Sentry Data Systems, Inc. provides technology solutions that help healthcare providers address their three biggest challenges: reducing total cost of care, managing compliance and producing better outcomes. More than 5,800 hospitals, clinics, integrated delivery networks (IDNs) and pharmacies across the country rely on Sentry’s integrated platform for their analytics, procurement, drug utilization and compliance solutions. Sentry employs more than 250 employees in teams dedicated to customer support, training, contract pharmacy support, 340B compliance and audit and specific subject matter expertise.
About ABRY Partners
Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business and information services focused private equity investment firms in North America. Since its founding, ABRY has completed over $42 billion of transactions, representing investments in over 450 properties. The firm is currently managing over $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, $950 million senior equity fund and a $1.5 billion senior debt fund.