Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce the completion of another successful transaction in its professional services practice. Clearsight served as the exclusive strategic and financial advisor to ComplianceLine, Inc. (“ComplianceLine”) in its acquisition by One Praetorian.
Giovanni Gallo, Vice President of ComplianceLine, stated that the transaction allows ComplianceLine to “continue operating with a renewed commitment to growth as an independent third party service provider to its valued and compliance-conscious clients… The same people, services, and values that drove the past nearly two decades of success will remain the bedrock of the ongoing success of the Company and its clients.”
ComplianceLine, a leading professional services firm that provides 24 hr. hotline services, employee exclusion / sanction screening, and additional compliance reporting solutions, operates as an independent business affiliated with Compliance Concepts, Inc., a Wexford, PA, healthcare compliance consulting firm. ComplianceLine is deeply embedded within the U.S. healthcare landscape, with a significant presence in the country’s largest hospital systems (private and academic) and long-term care facilities. ComplianceLine is headquartered in Charlotte, NC, and services in excess of 700 global customers.
“My partners and I were unanimous in our decision to engage Clearsight to bring this transaction to fruition, which, in retrospect, proved to be a very wise decision. Clearsight’s guidance and assistance throughout the entire process enabled us to continue to serve our clientele with minimal disruption,” said Steve Spargo, President of Compliance Concepts.
John Rakowski, Director of Clearsight Advisors said, “Healthcare is among the most highly regulated industries. Formed over 18 years ago, ComplianceLine is a pioneer in the healthcare compliance industry. By coupling technology, highly skilled staff and deep domain expertise they have built one of the preeminent and most highly trusted service providers in the industry. The regulatory environment for healthcare continues to evolve quickly. Notwithstanding the pace of change, compliance departments at many hospitals continue to suffer from lack of staff and funding and are ill-equipped to mitigate all risks. In this environment, we believe that technology and technology-enabled services such as ComplianceLine that can alleviate this compliance burden will thrive.”