Cedar Gate Buys Capitation Software Provider Citra
Value-based care solutions company Cedar Gate Technologies has acquired Citra Health Solutions, a provider of capitation management software.
By acquiring Citra, Greenwich, Conn.-based Cedar Gate said it is expanding its software and services capabilities across the full spectrum of value-based care. The acquisition combines Cedar Gate’s existing capabilities in risk-based contract performance management, analytics, bundled payment solutions and advisory services with Citra’s EZ-Suite capitation platform.
Cedar Gate said Raleigh, N.C.-based Citra’s EZ-Suite offers a scalable and flexible platform supporting multiple lines of business, including Medicare Advantage, Medicaid, Medi-Cal, carve-out and commercial populations for health plans, Independent Practice Associations (IPAs) and Management Services Organization (MSOs) accepting risk.
Scott Sanner was hired as Citra CEO in 2018 after holding several leadership positions at McKesson and Change Healthcare. IPAs, MSOs, health plans and provider groups managing Medicare, Medicaid/Medi-Cal, specialty care and commercial populations
“The addition of Citra couldn’t come at a better time,” said David B. Snow Jr., CEO of Cedar Gate, in a prepared statement. “Now more than ever, health systems are looking for ways to transition away from fee-for-service as value-based care becomes the new standard. Through Citra’s long-standing capitation capabilities, we now provide our clients with the ability to design, administer and optimize all risk-based arrangements.”
Cedar Gate’s enterprise platform includes the ISAAC SaaS performance management system, which helps payers, providers and self-insured employers optimize risk-based contracts by identifying improvements in medical loss ratios, capturing lost revenues and enhancing provider network and clinical performance.
Snow founded Cedar Gate in 2014 in partnership with GTCR, a Chicago-based private equity firm. In 2018, Ascension Ventures, a healthcare venture firm, became part of the ownership group. Citra was purchased for an undisclosed sum from Great Point Partners, a Greenwich, Conn.-based private investment firm focused on the healthcare industry.
