Persivia Inc. is a privately held healthcare information technology company that sells software-as-a-service to healthcare providers, including hospital systems and outpatient facilities. The company has a well-established regulatory reporting business with more than 300 customers that analyzes hospital data and reports it to the Centers for Medicare and Medicaid Services (“CMS”); this segment generated $7.2 million in LTM revenue and is EBITDA positive. In addition, the company has a rapidly growing software product that assists hospitals in the shift to value-based payment systems. Value-based payments can reimburse providers on a per-incident (e.g. surgical procedure) or per-patient-per-month basis, requiring hospitals to more closely manage the course of care; One third of all payments made in the US1 are under value-based systems, and this represents a rapidly growing niche within healthcare.