The move will result in an expansion of the SectyrHub® compliance platform bringing expanded functionality to customers and furthering the company’s mission of helping customers achieve Continuous Program Compliance™.
October 27, 2021 11:30 Eastern Daylight Time
Scottsdale, Az. — Sectyr® announced the acquisition of LicenseTrak™, a SaaS based application suite centered on regulatory compliance.
“I am very excited about integrating the existing LicenseTrak™ products as well as using these feature sets to further our compliance mission,” said Sectyr® CEO James Lawson. “The addition of the LicenseTrak™ toolset is a natural fit for our customers and will allow us to continue growth into other healthcare compliance markets.”
With this acquisition, Sectyr® aims to bring additional compliance elements together in the SectyrHub® platform, enabling customers to have a single location for compliance management across the continuum of hospital, clinic, pharmacy, and other healthcare operations. Using LicenseTrak’s unique web-based automated primary source verification as well as overall license management adds powerful tools to overall compliance efforts and sets the stage for future platform expansion.
“I’m excited to work with the LicenseTrak™ team and bring their unique feature set to the market,” said Sectyr® President Craig Frost. “By bringing these two companies together we will be able to offer a more comprehensive approach to compliance for our customers.”
On October 27th, Tony Zappa, creator of LicenseTrak™, will become SVP at Sectyr® and will continue to lead the LicenseTrak™ product line. LicenseTrak will continue operations inside the SectyrHub® platform offering expanded product functionality all while continuing to maintain their excellent customer support.
“The ability to bring our unique license management capabilities to the already feature-rich SectyrHub® platform will enable us to grow and continue to innovate,” said Tony Zappa, LicenseTrak creator.
Sectyr® is dedicated to a mission of compliance. Sectyr’s cloud-based solutions enable healthcare providers to achieve and maintain Continuous Program Compliance™ in the ever-changing landscape of regulatory requirements compliance. The SectyrHub® platform enables industry leading automated workflow tools, collaborative tasking, and Machine Learning technologies to make the complex job of compliance easy and efficient.
Since 2016, the SectyrHub® platform has been used by more than 180 hospitals and health care providers monitoring more than 4,000 pharmacies and related vendors. SectyrHub’s platform portfolio helps healthcare providers achieve and maintain Continuous Program Compliance™ in the federally regulated HRSA 340B drug discount program, the HRSA Community Health Center 330 grant program and in the HHS Office of Civil Rights HIPAA and HITECH programs. To learn more, visit www.Sectyr.com and follow us on LinkedIn.
LicenseTrak™ is a comprehensive compliance management suite designed for any regulated business, especially healthcare and pharmacy companies. Since 2017 over 500 pharmacies and health systems, as well as companies in other regulated markets, have used LicenseTrak™ to improve documentation and reduce compliance risk from missed or incomplete tasks.
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