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NewSpring Capital hired Evercore to sell release-of-information data company Verisma, two sources familiar with the matter tell Axios Pro.

Follow the money: Verisma is seeking a valuation between $850 million and $1.2 billion.

Inside the room: Verisma is being marketed on between $65 million and $70 million of EBITDA, and confidential information memorandums were sent in September, the sources say. 

How it works: Alpharetta, Ga.-based Verisma provides release-of-information (ROI) services, claims audits, care coordination and document management to health care organizations.

Catch up quick: NewSpring first invested in Verisma in 2015 and recapitalized the business in 2021. 

Verisma acquired ROI provider ScanSTAT in 2023 and data integration startup Olah in 2024.

The big picture: The Trump administration recently secured commitments from large tech players and health data companies to make electronic patient records more accessible.

It's a continuation of the push for interoperability that past administrations have also attempted, to mixed results.

Friction point: Theoretically, ROI providers should be integral to that goal. However, Verisma and peers have faced lawsuits around the fees they generate to retrieve and produce requested patient medical records.

Last year, a Wisconsin court ordered Verisma to pay $4.9 million dollars in excessive fee settlements to people and entities it had billed for health records since 2011.

Verisma, NewSpring and Evercore didn't respond to a request for comment.

Scoop: NewSpring selling Verisma

Evercore is leading the sale, and the seller wants a valuation of $850 million to $1.2 billion.

Illustration of a recipe box with a health plus on the front of the box. 

NewSpring Capital hired Evercore to sell release-of-information data company Verisma, two sources familiar with the matter tell Axios Pro.Follow the money: Verisma is seeking a valuation between $850 million and $1.2 billion.

Scoop: NewSpring selling Verisma

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