Ignition Partners sold its portfolio company Verity Solutions Group Inc. to Cigna Corp. company Express Scripts Holding Co.
Verity provides 340B Drug Pricing Program software and services to U.S. health systems, hospitals and care centers. It will retain its existing leadership team and will operate as a stand-alone business under the Express Scripts umbrella.
Express Scripts, on the other hand, will move toward centralized inventory management for contract pharmacy relationships through Verity's platform. It will aid in the latter's growth and current strategy in 340B administration.
Ignition Partners is a venture capital firm investing in early-stage enterprise software companies.