June 6, 2017

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the financial advisor to WhiteCloud Analytics, Inc. (“WhiteCloud” or the “Company”) in its sale to Relias Learning (“Relias”), a portfolio company of Bertelsmann Education Group.

Headquartered in Boise, Idaho, WhiteCloud has pioneered a new category of software that enables healthcare providers to automatically identify irrational variations in physician practices and develop and implement plans that rapidly decrease costs, improve patient and population outcomes and increase profitability for health systems. This value-based performance management analytics (“VBPMA”) software addresses the largest challenge facing providers—the shift from volume- to value-based reimbursement.

Relias Learning is an online provider of analytics, assessments and learning for the healthcare market. With the acquisition of WhiteCloud, Relias can now offer clients targeted end-to-end solutions that blend delivery of care analytics with adaptive learning to provide for the improvement of measurable outcomes, as well as increased ROI. WhiteCloud is Relias’s second acquisition in analytics in 2017 and seventh acquisition since March 2016.

“The future of healthcare is uncertain, but the necessity for change is not. By integrating WhiteCloud’s best of class performance management analytics with Relias’s best of class learning management system, we create a new digital platform, which will set a new standard in supporting healthcare’s demands to accelerate the rate of change and improvement. This in turn sets a new standard for helping our clients thrive during times of uncertainty,” said Bob Lokken, CEO of WhiteCloud Analytics. “Brentwood Capital Advisors, our investment banker in this transaction, played a major role in creating the marketing materials and structuring, negotiating and closing a transaction that exceeded shareholders’ expectations. BCA’s strong industry relationships and healthcare technology expertise generated a process that yielded the best outcome for shareholders.”

“WhiteCloud’s innovative software enables healthcare providers to thrive under value-based reimbursement models by removing irrational variations in cost and clinical care delivery,” added Porter Meadors, Vice President of Brentwood Capital Advisors. “We were privileged to work with Bob Lokken and Jeff Rutherford and look forward to tracking their continued success under Relias’s ownership.”

ABOUT WHITECLOUD ANALYTICS
WhiteCloud is a leading provider of healthcare performance management technology that helps health systems safeguard revenues and combat rising costs. Based on 20 years of analytics and performance management best practices, the WhiteCloud™ Healthcare Performance Management Platform is designed to help health systems optimize care, improve financial health and streamline operational efficiency. Learn more at www.whitecloud.com.

ABOUT BRENTWOOD CAPITAL ADVISORS
Based in Franklin, Tennessee, Brentwood Capital Advisors is one of the South’s leading investment banks that provides mergers and acquisitions and capital raising advice to privately-held, middle market healthcare, technology and tech-enabled and outsourced services companies. BCA has served as exclusive financial advisor in 85 successfully closed transactions totaling over $5.2 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 18 investment banking professionals. For more information, please go to www.brentwoodcapital.com.