Meditology Announces Strategic Growth Investment from Primus Capital
Published On January 5, 2022
January 5, 2022 - ATLANTA, GA - Meditology Services, a top-ranked provider of information risk management, cybersecurity, privacy, and regulatory compliance services for the healthcare industry, today announced a strategic growth investment from Primus Capital, a growth-oriented private equity firm focused on investing in leading healthcare, software, and technology-enabled services companies. The partnership will allow Meditology to accelerate its growth trajectory and continue its strong performance as the healthcare industry’s leading cybersecurity, risk, and compliance services provider.
Since its founding in 2010, Meditology has served as the healthcare industry’s leading firm for information risk management, cybersecurity, privacy, regulatory compliance, and advisory solutions. Meditology provides a broad array of services to healthcare entities including cybersecurity and privacy risk assessments, HITRUST and SOC 2 assurance services, PCI-DSS ASV and QSA services, HIPAA & OCR compliance support, penetration testing, cloud security services, and other related services.
“Meditology has the honor and privilege of supporting hundreds of healthcare entities that represent many of the nation’s leading healthcare organizations,” said Cliff Baker, CEO and founder of Meditology Services. “We understand the critical role and trust that our clients have placed in us to safeguard their sensitive data and systems from the onslaught of cyberattacks. This investment is a huge milestone in Meditology’s journey. It gives us the resources we need to continue serving our amazing customers, while innovating solutions to solve the complex challenges and cybersecurity threats faced by the healthcare industry.”
Cybersecurity, privacy, compliance, and risk management have become top global priorities for healthcare as the industry increasingly faces crippling supply chain and ransomware attacks. Healthcare is a component of critical infrastructure and a top target of such attacks, yet the industry is struggling to maintain adequate data security and privacy with elevated risk of breaches and reputational damage. The partnership with Primus Capital will speed Meditology’s investments in technology, data, and services and support the company’s continued market leadership position for cybersecurity and privacy services for healthcare organizations.
“Meditology is an incredibly important partner to healthcare providers, payors, and vendors that are operating within an increasingly challenging information security environment,” said Phil Molner, Managing Partner of Primus Capital. “We are excited to work with an industry visionary like Cliff Baker and his seasoned team of industry leaders and innovators to continue to enhance their services and take Meditology to even greater heights. Chris Welch, Director of Primus Capital, added, “Primus Capital is proud to partner with Meditology to accelerate growth and create value by applying our industry knowledge, financial resources, and investment experience through the company’s next phase of growth.”
The investment from Primus Capital comes on the heels of significant market momentum for Meditology as healthcare’s leading cybersecurity, risk, and compliance services company. Meditology serves as advisors to the US Department of Health and Human Services (HHS) on cybersecurity and compliance matters and supports the US Office for Civil Rights (OCR) as the federal government’s HIPAA expert witness firm. Meditology’s team of experienced thought-leaders and healthcare Chief Information Security Officers has allowed Meditology to maintain the top-ranked position for healthcare cybersecurity and risk service providers supporting the nation’s critical healthcare infrastructure.
Cowen Inc. served as financial advisor and King and Spalding acted as legal counsel to Meditology Services. Goodwin Procter LLP served as legal counsel to Primus Capital.
About Primus Capital
Primus Capital is a growth-oriented private equity firm focused on investing in leading software, healthcare, and technology-enabled services companies. Primus partners with exceptional management teams to accelerate growth, improve operating performance, and increase the value of the companies in which they invest. Primus pursues buyouts, control and minority recapitalizations, secondary share purchases, and expansion financings; this flexible approach enables Primus to engage with business owners and design tailored investment structures to meet the particular needs of the transaction. For more information, visit primuscapital.com.
Stephanie Attaway, Meditology Services