SHORT HILLS, NJ – (COMMERCIAL THREAD) – Market Access Transformation (MAT), a global healthcare company that uses cutting-edge technology to automate and modernize the way life science companies capture critical information that drives decision-making throughout product lifecycle, announced today a minority investment of $ 30 million from Silversmith Capital Partners, a Boston-based development capital firm. The investment marks the first time that MAT has raised outside capital and will be used to expand the company’s team and accelerate the innovation of its product offerings.
Founded in 2016, MAT has revolutionized the way global payor market research is conducted by developing Rapid Payer Response (RPR), the industry’s only on-demand global platform for gathering critical payor information. In five years, the company has built a customer base of more than 45 manufacturers of biopharmaceuticals and devices, including the 10 largest pharmaceutical companies. MAT’s partnership with Silversmith consolidates its position as a market leader in providing technology solutions to the healthcare community.
“Providing our customers with new and improved offerings that address unmet needs in healthcare research and analysis has been our primary focus since we launched MAT,” said Baiju Aurora, CEO and co-founder of MAT, who, along with co-founder Paul Howard, will continue to lead the company. “We are incredibly proud of what our team has accomplished in such a short period of time and are delighted to partner with Silversmith as we seek to accelerate our product development initiatives. ”
RPR is built on the company’s proprietary SaaS platform that enables manufacturers to gain more robust insights, in 1/3 the time and 1/2 the cost of more traditional manual approaches. RPR is powered by an extensive global payor network – spanning over 40 countries – and takes advantage of a unique payor selection and verification process. “While RPR has enabled us to provide technology solutions to a wide variety of pharmaceutical companies around the world, our team of pricing and market access experts drives customer engagement and satisfaction,” added Paul Howard.
“One of the biggest challenges life science organizations face is collecting payor information in an agile manner to drive optimal clinical and commercial product strategies as regulations and market dynamics evolve. Said Brian Peterson, director of Silversmith. “What impressed us the most about MAT is the ability of their platform to deliver information in days instead of months, while maintaining world-leading quality. We are excited to partner with Baiju, Paul and the entire MAT team, and look forward to working with them as they continue to bring innovative offerings to the market.
As part of the investment, Brian Peterson and Jim Quagliaroli, Managing Partner of Silversmith, joined MAT’s board of directors, along with Baiju Aurora and Paul Howard.
Choate, Hall & Stewart served as legal counsel to Silversmith Capital Partners and Day Pitney served as legal counsel to MAT.
About the transformation of market access
With offices in the US, UK, and India, Market Access Transformation specializes in developing cutting-edge technologies that enable the healthcare community to gather and exchange information that assesses real potential. of their products. MAT’s first product, Rapid Payer Response ™ (RPR), is a platform-based online information exchange that enables healthcare manufacturers to obtain expert information on demand from the network. World’s largest and most diverse payers in as little as 5 days. For more information on MAT, please visit www.marketaccesstransformation.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based private equity firm with $ 2.0 billion in capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing and profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity and Webflow. The partners have over 75 years of collective investment experience and have served on the boards of many successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information on Silversmith, please visit www.silversmith.com.