WALTHAM, Mass.--(BUSINESS WIRE)--MedVentive announced today the completion of its oversubscribed Series C fundraising. The $10 million in capital is targeted to fuel the company’s next phase of product innovation, which will expand the ability of its technology to reduce costs to purchasers while improving the quality of care to patients. In particular, MedVentive is uniquely capable of supporting health plans and providers in their move to the healthcare industry’s newest value-based purchasing models – such as Accountable Care Organizations (ACO), global payments, and clinically integrated networks.
New investor Clarian Health Ventures (CHV), the for-profit investment arm of Indiana’s largest health care system, Clarian Health Partners, Inc., provides a strong strategic partner for MedVentive. Kyle Salyers, Managing Director of Clarian Health Ventures commented, “We selected MedVentive for our portfolio because our philosophy is not just financially supporting innovative approaches to solving crucial healthcare issues, but being active contributors to the company’s success through a strong commercial relationship. Incentives in the health care market will increasingly be tied to performance, and the delivery system must have the data and analytical tools to measure and improve quality. MedVentive’s solutions are uniquely positioned to provide this capability across care settings and across target patient populations. ”
Core Capital Partners, a leading early-stage venture fund headquartered in Washington, D.C. , expanded their earlier, unannounced investment in MedVentive’s Series C round. “Core is extremely pleased with MedVentive’s progress – technology advancements, market expansion, client initiatives, extension of their team, and overall growth. We expanded our investment with MedVentive to support their continued leadership in technology solutions focused on improving the quality of care and performance, while reducing medical expense,” said Mark Levine, Managing Director at Core Capital Partners.
“We are delighted to welcome Clarian Health Ventures and Core Capital to the MedVentive investment syndicate”, commented Dr. Enrico Petrillo, Managing Director at Excel Venture Management, which co-led the Series C financing with HLM Venture Partners. “Along with Excel, HLM Venture Partners and Long River Ventures, we have built an outstanding team to support MedVentive’s growth. The quality of the investors and the oversubscribed nature of the round are a testament to MedVentive’s competitive edge and its ability to lower costs in the healthcare system while improving outcomes for patients.”
MedVentive has more than twelve years of experience in solving today’s critical challenge of improving patient care while reducing costs. From our beginnings within CareGroup serving over 450,000 patients to our spin-out in 2005 as an independent entity to commercialize proven and physician-friendly solutions, MedVentive has always been laser-focused on delivering clinical and financial outcomes, not on technology or data sharing for its own sake. Today MedVentive provides a comprehensive technology platform that enables physician collaboration, data transparency, and proactive care improvement on a community basis. With a proven ROI, both in terms of increased quality of care and lowering costs, MedVentive clients are leading the industry in achieving real world results.
About Clarian Health Ventures
Clarian Health Ventures (CHV) is a venture capital firm affiliated with Clarian Health Partners, Indiana’s largest health care system. CHV invests in early stage health and life sciences companies that align with the strategic objectives and mission of Clarian Health. For more information, please visit www.clarianhealthventures.com.
About Core Capital Partners
Core Capital is a leading venture capital firm headquartered in downtown Washington, D.C. With approximately $350 million under management, To learn more, please visit www.core-capital.com.
About Excel Venture Management
For more information, please visit http://www.excelvm.com.
About HLM Venture Partners
For more information, please visit www.hlmvp.com.
About Long River Ventures
For more information, please visit www.longriverventures.com.
About MedVentive
For more than a decade, MedVentive has worked with leading provider and health plan organizations to develop and deploy innovative, clinically sophisticated approaches to successfully reduce healthcare costs and improve the quality of patient care. For more information, please visit www.medventive.com.
Contact:
MedVentive Delia C. Brower, 781-290-2515 Marketing Manager dbrower@medventive.com
