Provider-based Funds Support Company Growth, Continued ACO Innovation
Waltham, MA – October 26, 2011 – MedVentive announced today the completion of a $12 million Series D investment, led by two new provider-based investors. National Healthcare Services (NHS) and CHV II, LP, both focused on transformative technology for the healthcare market, were joined by MedVentive’s existing investors, which include CHV Capital, Core Capital Partners, Excel Venture Management, HLM Venture Partners and Long River Ventures. Including CHV Capital, MedVentive now has the backing of three of the nation’s most prestigious hospital investors.
The investment validates MedVentive’s accelerating innovation and strong company position as the leading provider of population and risk management solutions for health plans and providers.
We have been evaluating organizations in the ACO space extensively,” said Brant Heise, representative of NHS. “Through rigorous market analysis, we determined that MedVentive is uniquely positioned in the healthcare field for its ability to support health plans and providers and focus on population and provider-centered risk management. It is evident that MedVentive’s tools can greatly help our provider organizations achieve core business goals.”
NHS is the investment arm of MemorialCare Health System in California. MemorialCare has been recognized as one of the nation’s most innovative health systems by such organizations as Thomson Reuters and The Governance Institute.
CHV II is a strategic venture fund investing on behalf of four of the largest non-profit health systems in the country. The fund’s objectives are to support strategic investments that have the potential to transform the healthcare industry, and significantly enhance the quality of patient care.
We are delighted to welcome NHS and CHV to the MedVentive investment syndicate,” commented Nancy J. Ham, MedVentive President and CEO. Both are exceptional provider-based investors with an emphasis on bringing tools to market that will support the delivery of cost effective and efficient care,” she added. “Their investment is a true vote of confidence in MedVentive’s growth and success.”
MedVentive is extremely well positioned to meet the market needs for clinical integration, population management and management of financial risk for achieving stated quality and utilization goals. For more than a decade, MedVentive has been helping leading healthcare organizations support clinical integration initiatives and successfully manage their quality, utilization, pharmacy, and physician incentive programs. Its clients have achieved significant results using the MedVentive suite of Web-based applications to engage physicians and to optimize quality performance at the patient and population levels.
About National Healthcare Services (NHS)
National Healthcare Services (NHS) is a strategic investment company wholly owned by the MemorialCare Health System in California. The goal of NHS is to invest in companies that provide innovative products, services and technology to hospitals and physicians that have the potential to enhance operating and clinical performance. To learn more, please visit www.nationalhealthcareservices.com.
About CHV II, LP
CHV II, LP, is a limited partnership that invests in healthcare technology, services and medical device sectors on behalf of four of the largest non-profit health systems in the country.
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. MedVentive offers a fully-integrated suite of business & clinical intelligence and outreach applications that support best-in-class pay for performance programs, physician efficiency profiling and information-sharing, quality intervention, pharmacy management, and point-of-care decision support tools – all built on a risk-adjusted data foundation. Provider groups and health plans use MedVentive technology and services to identify their greatest healthcare improvement opportunities and to act quickly and efficiently to effect change through flexible, tailored solutions. For more information, please visit www.medventive.com.