Medical Review Institute of America Announces Strategic Growth Investment

We are pleased to announce that Medical Review Institute of America ("MRIoA" or the "Company"), a leading provider of outsourced utilization management and clinical review solutions to payers, has received a strategic growth investment from Parthenon Capital. As part of the transaction, MRIoA management and existing investor Summit Partners will both retain significant equity ownership in the business.

MRIoA is a leading provider of tech-enabled clinical review services for healthcare organizations designed to help patients receive the right care at the right time and in the right place. The Company provides independent clinical and utilization reviews, evidence-based clinical opinions and appropriate utilization analytics for many of the largest health plans, pharmacy benefit managers, third party administrators, government entities and self-insured employers in the United States.

Summit Partners invested in MRIoA in 2017 and has provided active support as the Company executed on several key growth initiatives over the course of our partnership. Today – with one of the largest, most extensive review networks and industry-leading turnaround times – MRIoA completes 1.9 million clinical reviews each year, helping clients to streamline decisions with data-driven insights and navigate a dynamic healthcare system.

MRIoA is a leader in what we view as a critically important market, and we believe the Company is well positioned for further growth. We look forward to partnering with Parthenon Capital to support MRIoA’s continued impact, improving the value equation and serving constituents across the U.S. healthcare system.