"This is an exciting next step in the evolution of TRICAST," said CEO Greg Rucinski. "The support of our investors will enable us to increase our pace of growth, accelerate our Reveal™ development efforts and devote more resources to providing an outstanding customer experience."
Fred Morris, Partner at Brook Venture adds: "One of our primary areas of focus is healthcare IT, and TRICAST's blend of pharmacy benefits industry expertise and pioneering technology is one of the more creative and exciting opportunities we've encountered."
In the near term, TRICAST will be forming a Board of Directors from industry experts around the country. They'll be charged with providing guidance and general oversight of the activities of the company.
"We are really excited about our long-term business plan—now we can execute it," said Rucinski.
TRICAST's owners and founders will continue to hold a majority interest in the company.
TRICAST is a pharmacy data analytics company utilizing industry expertise and powerful software tools to empower its clients to make decisions that lower their healthcare costs and efficiently manage their pharmacy benefit programs. TRICAST is headquartered in Milwaukee and serves clients nationwide. www.tricast.com
About Brook Venture Partners
Since 1995, Brook Venture Partners has invested in or acquired controlling interest in over 40 expansion stage companies in the Eastern US. The firm is focused on profitable companies in the Information Technology, IT-enabled Service and Healthcare IT sectors, where additional management, sales, marketing and financial infrastructure in addition to capital can accelerate growth. Initial investments typically are under $10 million. www.brookventure.com
About Blue Heron Capital
Blue Heron Capital is an operationally focused lower market private equity firm based in Richmond, Virginia. Blue Heron supports portfolio companies with a team of proven industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses. The firm invests in buyout and growth equity opportunities in the healthcare, security, and business services industries. www.blueheroncap.com
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