KOP’s Health Market Science gets acquired by LexisNexis

Health Market Science, a King of Prussia-based healthcare data company, will be acquired by Atlanta-based LexisNexis Risk Solutions for an undisclosed amount, LexisNexis announced. The deal resulted in a 3x return for Edison Partners, which invested a total of $18.5 million in the company since 2005, according to an Edison Partners email.
All 195 employees will remain in King of Prussia, said Edison Partners spokeswoman Kelly Ford.
Founded in 1999 and currently run by longtime CEO Matt Reichert, Health Market Science raised $6.1 million in 2010, in a round led by Radnor-based Cross Atlantic Capital Partners, and $5.6 million, in a round led by Edison Partners in 2009. The company is “an administrator of one of the largest practitioner-level medical claims databases in the U.S.,” according to a release.
This is one of eight Edison exits in 2014, Edison Partners wrote in an email. Check out their 2014 year-in-review infographic here.
LexisNexis is tied to another Philly tech exit: in 2001, it acquired CourtLink, which had recently acquired Wayne-based Marketspan, the online court records company from DreamIt Ventures cofounder David Bookspan for a reported $35 million. (It was actually the Marketspan purchase that prompted CourtLink to sell to LexisNexis, according to this Puget Sound Business Journal story.)