GREENWICH, Conn. & NASHVILLE, Tenn.– Great Point Partners (“GPP”), a Greenwich-based private investment firm focused exclusively on the health care industry, today announced the growth recapitalization of Ludi, Inc. (“Ludi”), the leader in physician payment automation, based in Nashville, TN.
Founded in 2012 by industry veteran Gail Peace and trusted by hundreds of hospitals nationwide, Ludi’s DocTime Suite helps hospitals track, manage and audit any type of payment to physicians. The proprietary technology enhances the financial performance of health care systems by optimizing their entire physician payment processes, increasing physician satisfaction and reducing compliance risk and administrative burden on hospital teams.
The growth recapitalization of Ludi will enable the company to expand its market-leading DocTime Suite of products and enhance the value proposition it offers to hospital systems and physicians. As part of the transaction, Ludi will implement a series of changes to its management team:
- Gail Peace has guided Ludi from inception through a period of significant growth and expansion. In the next phase of Ludi’s development, she will maintain her role on the company’s board of directors, where she will continue to actively support Ludi’s business objectives and provide strategic guidance. Gail will remain an integral part of Ludi’s continued evolution.
- Danielle O’Rourke will become Chief Executive Officer, having previously served as Chief Operating Officer since joining Ludi in 2019. Based in Indianapolis, IN, Danielle has played a pivotal role in accelerating Ludi’s growth over the last four years, streamlining operational processes, building an in-house analytics department, spearheading sales strategies, developing strategic channel partner relationships and contributing to product development. With extensive experience across many areas of the health care industry, including as former principal at Martin Ventures and former board member of Ovia Health and Clockwise.MD by Lightshed Healthcare, Danielle will harness her strong operational and financial capabilities and historical knowledge of the company as she succeeds Gail Peace, Founder of Ludi and outgoing Chief Executive Officer.
- Steven Lefar, Former Chief Strategy Officer at Strata Decision Technology, a leading health care financial performance platform employed by over 2,000 hospitals, will join Ludi’s board of directors. Steven brings over 30 years of experience in the health care sector, holding board member roles for Casechek, Thirdeye Health and Wildflower Health, and previously serving as CEO of Applied Pathways, Sg2 and MediRegs, which respectively exited to AIM Healthcare by Anthem, MedAssets and WoltersKluwer.
“Partnering with Ludi underscores our commitment to the advancement of better, faster and more efficient health care solutions that address crucial pain points in the industry,” said Alex Gulotta, Senior Vice President at GPP. “We look forward to supporting the talented team and further strengthening the innovative solutions it brings to hospitals and health systems nationwide.”
“I am incredibly proud of all that Ludi has accomplished since I founded the company more than a decade ago, and I believe the company is well positioned for continued growth and innovation long into the future in partnership with GPP,” said Gail Peace, Founder and outgoing Chief Executive Officer of Ludi. “As the hospital industry continues to face complex financial and workforce challenges, there is no better time for our DocTime solution to help strengthen the relationships that hospitals have with one of their most critical partners: physicians. In Danielle, Ludi will have a smart and talented leader who will build on the company’s track record of success and take Ludi to new heights.”
“Witnessing firsthand the incredible growth that Ludi has fostered under Gail’s leadership, I am thrilled to take the reins in partnership with GPP,” said Danielle O’Rourke, incoming Chief Executive Officer. “The physician compensation space is at another inflection point, with the rise of value-based care, the increase in employed physicians at hospitals and recently updated compliance guidance from the OIG around physician arrangements. I feel lucky to have such an innovative team of colleagues at Ludi and an amazing technology to meet this moment. Although we have many exciting developments in store for DocTime, Ludi will always remain focused on our core commitments of helping hospitals optimize their physician payment processes, enhance physician satisfaction and achieve substantial cost savings. Since initial discussions with GPP, we were impressed with the firm’s expertise in physician compensation and contract management, and we share GPP’s vision for the future of Ludi.”
Ziegler served as financial advisor to Ludi.
