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Bayshore Networks(R) Closes Oversubscribed Venture Funding

Final Investment from Benhamou Global Ventures Completes Series A for Leader in Industrial Cyber Protection

BETHESDA, MD–(Marketwired – March 20, 2017) – Bayshore Networks, the leading provider of cyber protection for industrial infrastructure, today announced the closing of its Series A venture capital investment. With a final investment from Benhamou Global Ventures (BGV), the round was oversubscribed at more than $11M, bringing total investment in the company to $15M. Bayshore will use the investment to aggressively grow go-to-market channels, and further develop its industry leading industrial cyber protection platform.

“The market for Bayshore’s industrial cyber protection solutions is expanding quickly,” said Mike Dager, CEO of Bayshore Networks. “Industrial cyber protection is now a key strategic initiative for large enterprises, utilities, and governments alike. We’re experiencing rapid growth because unlike passive visualization and reporting packages, Bayshore’s comprehensive industrial cyber protection platform stops industrial cyber threats before they start.”

“We are impressed with Bayshore’s experienced management team and differentiated technology,” said Anik Bose, General Partner at BGV, who has joined Bayshore’s Board of Directors following the investment. “There is a compelling global need for industrial cyber protection solutions, and we believe Bayshore is well positioned in this burgeoning market.”

“Bayshore’s innovation in the emerging Industrial IoT cyber protection market is well recognized. We led Bayshore’s Series A in support of their pioneering technology in a critical market that is largely untapped to date,” said Alberto Yépez, managing director of Trident Capital Cybersecurity. “We are happy to have BGV join us in supporting the company’s growth.”

About Bayshore Networks, Inc.

Bayshore Networks® is the leading provider of industrial cyber protection. The Company’s award-winning technology unlocks the power of the Industrial Internet of Things (IIoT), providing enterprises with unprecedented visibility into their Operational Technology infrastructure while safely and securely protecting ICS systems, industrial applications, networks, machines, and workers from cyber threats. Bayshore’s strategic partners include among others Arista, AT&T, BAE, Cisco, Dell, SAP, VMware, and Yokogawa. Bayshore is a privately held company headquartered in Washington, DC and backed by Trident Capital Cybersecurity, Yokogawa, Samsung Next, and BGV Capital. For more information, visit www.BayshoreNetworks.com

About Benhamou Global Ventures

BGV, is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise information technology opportunities in global markets. BGV currently has 17 active companies in its portfolio. The BGV team has successfully built and implemented a cross-border venture investing model with companies from Israel, Europe and Asia. The fund was founded by Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications. Comprised of an experienced partnership team of global operating executives and investors, BGV is often the first and most active institutional investor in a company and has a powerful network of technical advisors, executives and functional experts who actively engage with its portfolio companies. The company has offices in Palo Alto, California and Tel Aviv, Israel.

About Trident Capital Cybersecurity

Trident Capital Cybersecurity (TCC) is a $300 million fund that invests primarily in early stage and select growth equity companies. The firm is well positioned as the venture capital firm with the best connections in cybersecurity. Its 47-person Cybersecurity Industry Advisory Council, including industry CEOs, customers and former top-level government leaders is commended for its insights, connections and go-to-market support for TCC’s portfolio companies. TCC’s current portfolio companies include 4iQ, Appthority, Bayshore Networks, ID Experts and IronNet Cybersecurity. Managing Directors Alberto Yépez, Sean Cunningham and Don Dixon jointly lead the investment team and together have made 30 cybersecurity investments during a nearly 20 year period of investing at Trident and Intel Capital. For more information, visit www.tridentcybersecurity.com.

March 20, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Arcadia Healthcare Solutions Announces $30MM New Investment

Merck Global Health Innovation partners with GE Ventures and existing investors to scale leading healthcare data and advanced analytics company

BURLINGTON, Mass.– Arcadia Healthcare Solutions (“Arcadia” or the “Company”) announced today that the Merck Global Health Innovation Fund (“Merck GHI”), GE Ventures, and existing investors Peloton EquityZaffre Investments, and Morgan Stanley Alternative Investment Partners have invested $30 million of growth capital in the Company.

With over 60 enterprise customers, Arcadia is a leading healthcare data aggregation and analytics technology company with a focus on serving ambulatory networks affiliated with large payer and provider organizations, including health plans, accountable care organizations, integrated delivery networks, and large independent physician groups, among others.

Arcadia’s technology and services enable its customers to successfully drive value-based performance management programs as American healthcare shifts to a new paradigm. Arcadia is led by chief executive officer Sean Carroll, a longtime executive with over 25 years of experience in the health IT industry.

“Having Merck GHI and GE Ventures join existing investors in this round of growth capital is the optimal outcome for us,” said Carroll. “The rigorous process expands our team of blue chip investors who actively support their companies’ growth plans.”

“Arcadia fits perfectly with our initiatives supporting the transition to value based care. Arcadia’s deep expertise in transforming isolated data into critical insights that enable providers to close gaps in care and enable better outcomes is central to our investment hypothesis around Population Health,” stated Joel Krikston, Managing Director at Merck’s Global Health Innovation Fund.

“GE Ventures is excited to back Arcadia in becoming an industry leader to help payers and providers apply advanced analytics to their business models. We’re especially proud to invest in this highly experienced Boston-based team, which is now home to GE’s headquarters,” said Noah Lewis, Managing Director of healthcare at GE Ventures.

The investment allows the company to accelerate its robust product development plans in the core Arcadia Analytics platform and expand population health management market activities across the country. While the company will continue to focus on organic growth, Arcadia has made two successful acquisitions since its founding—Concordant, an EHR support services company in 2011 and Sage Technologies, a managed care services company in 2015.

“Our transformation from a proven consulting firm to a recognized, technology-led population health analytics company is complete as noted by industry experts such as KLAS ResearchGartner, and Chilmark Research,” said Carroll. “We see a bright future for our customers, investors, and team members.”

The capital raise process was managed by Robert W. Baird and supported by counsel Goodwin Proctor.

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About Merck Global Health Innovation Fund

Merck Global Health Innovation (GHI) Fund (www.merck.com/ghi) invests in emerging companies that deliver breakthrough healthcare solutions which advance Merck’s mission to discover, develop, and provide innovative products and services that save and improve lives. Established in 2010, the GHI Fund deploys its evergreen $500 million fund to rapidly identify and develop transformative global health care opportunities. GHI is focused on identifying opportunities that are adjacent to Merck’s core business of pharmaceuticals and vaccines.

About GE Ventures

GE Ventures (www.geventures.com) is committed to identifying, scaling, and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy, and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital, and opportunities for commercialization through GE’s global network of business, customers, and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing, and development resources in over 100 countries.

About Peloton Equity

Peloton Equity, LLC (http://www.pelotonequity.com) is a newly-formed private equity firm that focuses exclusively on growth capital investments in the lower middle market of the healthcare industry. Peloton’s portfolio includes HealthPlanOne, a leading technology-enabled digital marketing firm specializing in Medicare and individual and family health insurance sales and distribution. Peloton leverages its extensive healthcare network, value-building diligence and investment process, and portfolio management playbook to add value to its portfolio companies. Peloton seeks companies with between $20 and $200 million of revenue and the management team, market opportunity and business model to grow revenues meaningfully over the life of its investment.

About Zaffre Investments

Zaffre Investments, LLC (http://www.zaffreinvestments.com/) is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.

About Morgan Stanley Alternative Investment Partners

Morgan Stanley Alternative Investment Partners (http://www.morganstanleyaip.com), part of Morgan Stanley Investment Management, specializes in assisting institutional and high net worth investors achieve their goals through the design and management of alternative investment programs. Established in 2000, Morgan Stanley AIP currently has approximately $36.4 billion in assets under management and advisement.

About Arcadia Healthcare Solutions

Arcadia Healthcare Solutions (http://www.arcadiasolutions.com) is an EHR data aggregation and analytics technology company supporting ambulatory networks taking on risk and transitioning to value- based care. Arcadia specializes in integration of data from over 30 EHR vendors, enriching it with claims and operational data, and using that data to drive improvements in patient care quality, practice efficiency, and financial performance. Trusted by independent provider groups, health plans, and integrated delivery networks nationwide, with expertise in both fee-for-service optimization and value- based performance environments, Arcadia supports providers with the benchmark data, insights, and outsourced services to excel in the evolving landscape of American healthcare. Founded in 2002, Arcadia is headquartered outside Boston in Burlington, MA, with offices in Seattle, Pittsburgh, and outside Chicago in Rockford, IL.

January 6, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CareCloud Completes $31.5 Million Series C Funding Round to Further Modernize Healthcare

MIAMI, FL – (November 15, 2016) – CareCloud, the platform for high-growth medical groups, today announced an oversubscribed $31.5 million Series C funding round, including new investments by diversified financial services leader The PNC Financial Services Group, Inc. (NYSE: PNC) and commerce technology giant First Data Corporation (NYSE: FDC). Blue Cloud Ventures joined as a new investor and led the round. CareCloud will use the capital to rapidly scale its team and its clinical and financial platform as it transforms how physician practices modernize the patient experience and deliver value-based care.

“The healthcare sector is evolving quickly, especially with respect to patient engagement and consumerism,” said James G. Graham, Head of Treasury Management at PNC. “Our team brings to bear deep industry knowledge and sophisticated treasury management capabilities for our customers. Aligning with CareCloud will help both of us continue to lead the way with physicians’ practices and patients.”

“We are excited to partner with Ken Comée and the team at CareCloud as they continue to deliver on their vision of providing the healthcare industry’s best-in-class, cloud-based, comprehensive technology platform,” added Mir Arif, partner at Blue Cloud Ventures.

CareCloud supports medical practices through a flexible and powerful cloud-based platform that streamlines workflow and supports more efficient and effective patient engagement. The platform modernizes revenue cycle management, practice management (PM), electronic health record (EHR) and patient engagement activities within high-performance medical groups.

CareCloud’s technology is tailored to medical groups focused on expanding operations and advancing patient care, especially in cardiology, general surgery, orthopedics, dermatology, ophthalmology, neurology, internal medicine, urology and family medicine specialties. Pairing award-winning design with deep clinical and billing expertise, CareCloud offers integrated clinical and financial technology that adapts to varied payment models. By using an open API architecture powered by the most advanced app platform in healthcare, the company enables rapid deployment of innovative solutions for patients and development of EHR and clinical tools designed to address physician workflows.

“We’re modernizing the healthcare experience for both physicians and patients at the precise point where care happens — the medical practice,” said Ken Comée, CEO at CareCloud. “To simplify and improve the process of delivering and financing healthcare within a rapidly changing ecosystem, you need a technology platform that is flexible with tools as easy to use as we see in banking, shopping and our other everyday activities. We couldn’t imagine better partners than PNC and First Data working with us to reimagine healthcare commerce for physicians and patients alike.”

CareCloud is working to address new opportunities in patient consumerization and value-based care, accelerating market trends that are detailed in a new briefing paper released today: “The New Medical Economy.” Healthcare market dynamics are shifting; patients are becoming more directly responsible for an increasing percentage of costs (as much as 25 percent, according to the AMA) through the rise of high-deductible health plans and changes in the health insurance marketplace. At the same time, medical groups are seeing new opportunities for innovation in a landscape of regulatory uncertainty.

CareCloud’s prior investors all participated in the round, including Norwest Venture Partners, Intel Capital, Tenaya Capital and Adams Street Partners. The company previously entered into a debt financing agreement with Wellington Financial to provide access to additional growth capital.

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About CareCloud

CareCloud is the leading provider of cloud-based revenue cycle management, practice management (PM), electronic health record (EHR) and patient engagement solutions for high-performance medical groups. CareCloud helps clients increase profitability, streamline workflow and improve patient care nationwide. The company currently manages more than $4 billion in annualized accounts receivable on its integrated clinical and financial platform. To learn more about CareCloud, visit www.carecloud.com.

About PNC

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

About Blue Cloud Ventures

Blue Cloud Ventures (BCV) is a New York–based growth equity fund focused on providing flexible capital to innovative cloud-based enterprise software companies. Within three years, BCV has raised two sequential funds, backed 20 market-leading software companies and differentiated itself with its unique investment strategy of providing right-sized financing to target gaps in the growth and late stage funding markets. For more information, visit www.bluecloudventures.com

November 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

InstaMed Announces $50 Million Investment From Carrick Capital Partners

Capital to Drive the Growth of the InstaMed Network

PHILADELPHIA, PA and NEWPORT BEACH, CA (September 26, 2016)– InstaMed, healthcare’s most trusted payments network, today announced a $50 million investment from Carrick Capital Partners, an investment firm jointly based in Newport Beach and San Francisco, CA that focuses on technology-enabled businesses including SaaS, BPO and Transaction Processing.

The investment will be used to drive the growth of the InstaMed Network, accelerate go-to-market strategy and drive further innovation in healthcare payments technology. InstaMed’s solutions enable providers and payers to manage all of their healthcare payments on a single platform, integrated into any healthcare IT system. As consumer healthcare payment responsibility continues to soar, InstaMed’s innovative solutions offer ways for providers and payers to address the demands of consumerism while maintaining the highest levels of security and compliance.

“We are very excited to be working with InstaMed President and CEO Bill Marvin and his team, who are revolutionizing healthcare payments by simplifying the experience for providers, payers and consumers,” said Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners. “We identified InstaMed as part of our thematic sourcing efforts in healthcare technology and recognized the value of their unique single-technology platform, network effect business model and relentless focus on security and compliance,” he added.

Madden will join the InstaMed board of directors, and Chris Wenner, a Vice President at Carrick Capital Partners, will become an observer to the board of directors.

“We are thrilled to partner with Carrick Capital Partners and benefit from their deep experience in the healthcare marketplace,” said Bill Marvin, Co-Founder, President and CEO of InstaMed. “Carrick’s investment and experience will help drive the growth of the InstaMed Network and enhance the healthcare payment experience for providers, payers and consumers.”

Cowen and Company served as InstaMed’s sole financial advisor.

About InstaMed
InstaMed is healthcare’s most trusted payments network, connecting providers, payers and consumers on one platform. The InstaMed Network connects over two-thirds of the market and processes tens of billions of dollars in healthcare payments annually. InstaMed reduces the risks, costs and complexities of working with multiple payment vendors by delivering one platform for all forms of payment in healthcare, designed and developed on one code base and supported by one onshore team of experts in healthcare payments. InstaMed enables providers to collect more money from patients and payers while reducing the cost and time to collect. InstaMed allows payers to cut settlement and disbursement costs with electronic payments and facilitate consumerism for their members. Visit InstaMed on the web at www.instamed.com.
About Carrick Capital Partners
Headquartered in San Francisco and Newport Beach, Carrick Capital Partners is a growth-oriented investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast-growing, technology-enabled businesses. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Leveraging decades of experience, Carrick helps scale great companies that deliver excellent returns for investors, stimulating economic growth and positively impacting the industry landscape. Working directly with CEOs and entrepreneurs, Carrick fulfills a vital need for investment capital and growth expertise.

 

September 26, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

AristaMD Secures $11 Million Series A Financing

Digital Health Company to Enhance Functionality, Accelerate Commercialization
of Referral Intelligence Platform

SAN DIEGO, July 21, 2016 – Arista MD, a technology-enabled service company providing eConsults and a suite of related specialist referral support tools, announced today it completed $11 million in financing. The Series A round was led by Avalon Ventures with participation from Correlation Ventures. The proceeds will be used to accelerate commercialization and further enhance functionality of the company’s proprietary Referral Intelligence Platform.

As many as 60 percent of specialist visits are routine consults that do not require an in-person visit. , Unnecessary care results in $10 billion annually in costs, causes delays in care planning and exacerbates access challenges for the most vulnerable patients. AristaMD’s Referral Intelligence Platform is designed to significantly reduce these costs and improve access to specialist care by facilitating rapid collaboration between primary care providers and specialists. The Referral Intelligence Platform includes a two-part process that consists of comprehensive referral work-up checklists licensed exclusively from the University of California, San Francisco (UCSF), and a simple, effective electronic consult (eConsult) platform. The AristaMD solution is proven to reduce overall specialist visits by 30 percent or more while also reducing ER visits and hospital admissions.

“We’re thrilled that Avalon and Correlation share our vision to provide a solution that optimizes referrals in today’s era of value-based healthcare,” said Rebecca Cofinas, president and CEO of AristaMD. “Our investors’ proven track record of success with building transformational companies is instrumental for our continued growth and success.”

AristaMD’s clients range from small rural providers to large county health systems in urban environments. The Referral Intelligence Platform has been designed to be flexible to fit each individual client’s workflow, technology, and clinical needs.

“The AristaMD platform is the most comprehensive solution in the market,” Cofinas said. “Our platform saves the average provider years of precious time and resources by providing a strong foundation that can still be tailored for each unique environment.”

“Referrals to medical specialists have nearly doubled over the last decade, and that figure is set to double again in the next five years,” said Jay Lichter, Ph.D., managing director at Avalon Ventures and chairman of the board at AristaMD. “AristaMD’s Referral Intelligence Platform is a unique and innovative solution designed to improve appropriate patient access and significantly reduce costs. We are pleased to support AristaMD’s top-notch team as they continue their drive to the next level of growth and commercial success.”

About Arista MD
AristaMD is a digital health company focused on assisting primary care providers in offering expanded specialty care through high-impact tools and solutions to reduce unnecessary referrals. Designed by practicing physicians, the AristaMD Referral Intelligence Platform combines clinical guidelines developed at UCSF, specialist eConsults and robust data collection and reporting into one easy-to-use software platform that is interoperable with core EMRs. AristaMD partners with clients to use the company’s platform for their own specialists or can directly provide eConsults through its comprehensive panel of board-certified specialists. AristaMD is at the forefront of designing exceptional tools to enable physicians to collaborate, promoting efficiency and optimal clinical care.

July 21, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Azalea Health Receives $10.5 Million in Series B Funding From Kayne Partners Fund

ATLANTA, GA–(Marketwired – Jul 15, 2016) – Azalea Health announced today that it has closed its $10.5 million Series B round of funding. The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an alternative investment firm managing over $22.5 billion in assets. Existing Azalea investor Intersouth Partners, a venture capital firm in Durham, NC, also participated in the round.

Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and Revenue Cycle Enhancement™ services for practices of all sizes and most specialties. “The additional capital allows us to rapidly advance organic growth and consolidate the market through acquisition,” said Justin Pierce, Vice President of Sales.

“We are very pleased with this opportunity to partner with Kayne Anderson, a like-minded, technically focused equity provider that has a strong track record within the health IT space,” said Baha Zeidan, CEO and Co-Founder.

“Now more than ever, hospitals and physicians need tools that deliver a strong ROI, streamline workflow, and are easy to adopt and use,” Zeidan continued. “With payment reforms focused on achieving outcomes and lower costs, healthcare organizations require a comprehensive end-to-end platform that supports every aspect of their practice.”

“Kayne strives to identify companies with unrivaled competitive advantages in fast-growing industries which are led by exceptionally strong management teams. Azalea is solving unique healthcare access and delivery needs in the U.S. rural healthcare market. We recognize this is a significant growth opportunity for Azalea and believe they are uniquely positioned to take advantage of these opportunities,” said Nishita Cummings, Partner, Kayne Partners. Cummings will join the board of Azalea Health.

Azalea Health focuses on rural markets that are traditionally underserved by healthcare technology. The company is able to cost-effectively meet the needs of community and critical access hospitals, including Federally Qualified Health Centers (FQHCs) and Rural Health Clinics (RHCs), as well as their associated physician practices.

Approximately 20 percent of the U.S. population lives in rural areas, but only 10 percent of U.S. physicians practice there. This disparity creates unique healthcare access and delivery challenges for patients, caregivers and physicians, ultimately resulting in significant costs to the healthcare system.

Azalea Health is the first company to fully integrate telehealth capabilities within its technology-enabled solutions platform, which includes integrated electronic health records (EHR), practice management, electronic prescribing, interoperability services, personal health records, patient portal, Azalea M™ mobile platform integrated with Apple® HealthKit and Revenue Cycle Performance™ services.

Azalea Health, established in 2008, is headquartered in Atlanta, GA, and serves customers nationwide. By using true cloud-based technology, Azalea eliminates the need to manage hardware and software, while reducing the complexity and cost of EHR technology.

Victor Culiuc and Healthios Capital Markets LLC served as exclusive financial advisor to Azalea.

About Azalea Health
Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and managed services for practices of all sizes and most specialties. Azalea’s comprehensive portfolio includes integrated electronic health records, practice management, electronic prescribing, interoperability services, personal health records, patient portal, telehealth, Azalea M™ mobile platform integrated with Apple® HealthKit, as well as Revenue Cycle Performance™ services. The Azalea platform also provides tools and resources to help customers meet their Meaningful Use and ICD-10 requirements, as well as strategies to navigate accountable care and alternative payment models. To learn more, please visitwww.AzaleaHealth.com, call (877) 777-7686 or connect via social media on Facebook, Twitterand LinkedIn.

About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. www.kaynepartners.com

About Kayne Anderson
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, and growth private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $22.5 billion in assets (as of 6/30/16) for institutional investors, family offices, high net worth and retail clients and employs nearly 300 professionals in eight offices across the United States. The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit our website: www.kaynecapital.com.

July 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Caremerge Raises $14 Million in Second Institutional Round Led By Insight Venture Partners As Value Based Care Takes Shape In Post-Acute Care

CHICAGO, IL July 13, 2016Caremerge, the revolutionary industry pioneer paving the way for care coordination and communication solutions to bridge care gaps across the care continuum and get providers ready for value-based care, today announces a $14 Million investment led by Insight Venture Partners, with participation from previous investors Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures, and Arsenal Venture Partners.

The capital enables Caremerge to fund their continued and exponential growth and expansion in the post-acute care market by leveraging its transformative cross-enterprise workflow automation technology to break healthcare information silos – put simply to get the right information at the right time to the right provider so the right decision can be made for the best possible outcome.

In 2016, Caremerge evolved its offerings in order to better prepare post-acute care providers for the value-based care model. The person-centered Caremerge platform acts as a connector across the entire continuum, bringing together many stakeholders including hospitals, MCO’s, ACO’s, physicians, other long-term care providers, families and seniors/patients, to collaborate more proactively for best outcomes and peace of mind.

The investment round sees new additions to the Caremerge Board of Directors. Harley Miller, Vice President at Insight Venture Partners and Dan Hermann, Senior Managing Director and Head of Investment Banking at Ziegler will join the board of directors.

“We are excited to become part of the Caremerge story, we share the same belief that the next era of healthcare, driven by value-based care (ACA) requires a simple, yet flexible platform capable of breaking healthcare silos while placing the patient at the center, and allowing for cross-enterprise workflow automation” said Harley Miller, Vice President, Insight Venture Partners.

Asif Khan, Caremerge’s CEO and co-founder, said: “We’re delighted to welcome Insight Venture Partners into the Caremerge family. Insight has tremendous expertise in scaling SaaS companies and we look forward to harnessing all Insight has to offer and exponentially growing Caremerge together”.

Caremerge’s care coordination platform helps providers on many fronts with tailored solutions to support them on their journey from volume to value-based care.  Caremerge offers Totally Connected Care:

  • Clinical & Compliance Solutions
  • Life Enrichment & Engagement Solutions – patients, families, and providers
  • OPEN API integrations for full interoperability, especially with many leading EHRs
  • CMS Value-Based Care Solutions
  • Hospital discharge and patient tracking into post-acute care

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About Caremerge:

Caremerge forges meaningful connections among providers, families and seniors seeking to improve communication in today’s complex healthcare environment, while meeting value-based care requirements.  With a transformative, easy-to-use cloud-based care coordination network, Caremerge connects the entire care team to streamline cross-enterprise workflows among providers, engage families and patients and improve overall wellness resulting in reduced costs, enhanced experiences and more positive outcomes. To learn more, visit caremerge.com ortwitter.com/caremerge.

About Insight Venture Capital Partners:

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on Twitter: @insightpartners.

About Arsenal Venture Partners:

Arsenal Venture Partners is a multi-stage venture capital firm that invests at the intersection of government, large corporations, and emerging technology companies. We partner with visionary entrepreneurs to build exceptional businesses in the healthcare, commerce and logistics, enterprise, and resource efficiency sectors. We foster relationships through our unique network and nearly fifteen years of experience working with, among others, the Department of Defense, Veterans Administration, United States Post Office, and Fortune 500 companies. Arsenal Venture Partners has twenty-two investment professionals in four offices across the United States.

About Cambia Health Solutions:

Cambia Health Solutions, headquartered in Portland, Oregon, is a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, we are delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, visit cambiahealth.com ortwitter.com/cambia.

About GE Ventures:

GE (NYSE: GE) (www.GE.com<http://www.ge.com/>) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.GE.com<http://www.ge.com/>

About Grażyna Kulczyk:

Grażyna Kulczyk is a noted investor, art collector and philanthropist. Ms. Kulczyk invests in innovative, entrepreneurial startups that directly work to serve the needs of society with simple technology that has the potential to scale globally. Her diverse portfolio includes medical, media and advertising startups.

About Ziegler:

Ziegler is a privately held investment bank, capital markets, wealth management and alternative investments firm. Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance, enables us to generate a positive impact on the communities we serve. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research.

About Ziegler LinkAge Longevity Fund:

The increasing aging population of the United States presents an attractive investment opportunity, given the size, growth and complexity of needs of this population within a continually evolving healthcare system. While the current venture capital and start-up market generally has a broad focus across the landscape of acute healthcare providers, this fund takes a concentrated approach by investing in companies that serve the Longevity Economy. The fund sponsors, Ziegler and Link-Age, leverage their domain knowledge and relationships to find attractive investment opportunities through an investment management team with relevant experience in the space. The objective of the Fund is to achieve long-term capital appreciation by making equity and equity-like (including convertible debt) investments in early to mid-stage, emerging-growth companies that operate in or develop businesses focused on the Longevity Economy.

July 13, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Navicure Partners with Bain Capital Private Equity to Continue Growth and Expand Healthcare Technology Platform

Investment to fuel growth from new products and expansion to new market segments

DULUTH, GA and BOSTON, June 15, 2016 – Navicure, a leading provider of cloud-based claims management and patient payment solutions for physician practices and hospitals, today announced the signing of a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a leading global private investment firm.  Financial terms of the private transaction were not disclosed.

Navicure, which is headquartered in Duluth, Georgia, will continue to be led by current CEO and founder, James M. Denny, Jr. and his executive team.  They will retain a meaningful interest in the business.  Selling shareholders include JMI Equity and other minority investors.

Navicure’s subscription-based software solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce the costs associated with managing insurance claims and patient payments.  Serving more than 90,000 healthcare providers nationwide, Navicure’s integrated revenue cycle management platform automates accounts receivable processes, and assures timely and accurate billing and collection from payers and patients.  The Company’s solutions help healthcare providers effectively handle claims management, patient eligibility verification, remittance and denial management, appeals, posting, reporting and analysis, and patient payment collections at and near the time of service.

Denny, who founded the business in 2001, said about the partnership, “We are proud that Navicure, for over 15 years, has helped thousands of healthcare organizations from large health systems to solo practices improve their financial results with less effort through the use of our SaaS-based solutions. Their success is our success.  We remain committed to our mission of developing innovative solutions that enable our clients to stay one step ahead. We believe the resources and experience of Bain Capital Private Equity give us an important advantage as we continue to grow our business and deliver an even wider array of differentiated solutions to our clients.”

Bain Capital Private Equity has a history of successful investments in a variety of healthcare and information technology businesses including Applied Systems, Viewpoint Construction Software, Blue Coat Systems, BMC Software, HCA Healthcare, Beacon Health Options, Physio-Control, Quintiles Transnational and CRC Health Group.

Chris Gordon, a Managing Director on Bain Capital Private Equity’s healthcare industry team, said about the investment, “Jim Denny and his team are at the forefront of developing innovative solutions that help healthcare providers manage an increasingly complex healthcare reimbursement ecosystem.  Leveraging technology and data to automate revenue cycle management is vital in light of economic pressure from payers, the shift of more payments to consumers, and the important role providers play in managing the cost and quality of healthcare.”  David Humphrey, Managing Director on Bain Capital Private Equity’s TMT industry team, added, “Navicure’s SaaS platform gives the Company the unique ability to provide clients with cutting-edge solutions combined with excellent service and exceptional financial results.”

The transaction is expected to close in July 2016.  Aeris Partners LLC served as the exclusive M&A advisor, and Jenner & Block acted as legal counsel, to Navicure. Ropes & Gray LLP is serving as legal counsel, and PwC LLP is serving as accounting advisor to Bain Capital Private Equity.  Committed financing for the transaction is being provided by Antares Capital serving as administrative agent and lead arranger, and Bain Capital Credit, Capital One Healthcare and NXT Capital serving as joint lead arrangers.

June 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Bayshore Networks Raises $6.6 Million From Trident Capital Cybersecurity and Current Angel Investors

Provides Cloud-Based Software That Addresses Security Gaps in the Industrial IoT; Impressed Investors With Its Growing Base of F-100 Customers and Strategic Alliances; Overall Revenues for IoT Security Products Will Exceed $20B by 2020, According to IDC

BETHESDA, MD–(Marketwired – May 10, 2016) – Bayshore Networks, the cybersecurity leader for the Industrial Internet of Things (IoT), today announced that it has raised $6.6 million in Series A funding from Trident Capital Cybersecurity and its existing angel investors. Alberto Yépez, managing director of Trident Capital Cybersecurity, will join the company’s board. Will Lin, vice president of Trident Capital Cybersecurity, will be a board observer.

Trident Capital Cybersecurity watched Bayshore Networks’s growth success for nearly two years as it achieved its key milestones. “We chose to lead the Series A because Bayshore has been recognized as an innovator and early leader in an emerging cybersecurity segment that is largely untapped to date,” said Alberto Yépez, managing director of Trident Capital Cybersecurity. “We are impressed with the company’s cutting-edge cloud-based technology, the team’s ability to grow its customer base across theFortune 100, and its track record of developing strategic alliances with world-class players.”

Targeting Cybersecurity for the Industrial Internet
While the Internet provides significant business advantages to industrial enterprises, it leaves their operations exposed and vulnerable to the hazards of the Internet. Bayshore was founded in 2012 to help protect industrial enterprises against Internet-based cyber attacks, which are becoming increasingly common.

The term “Industrial Internet” refers to the convergence of networked applications and sensors with industrial machinery and processes. The Industrial Internet of Things (IoT) represents new business opportunities for enterprises in industries such as manufacturing, critical infrastructure, smart cities and connected cars.

Bayshore’s cloud-based software, called the Bayshore IT/OT Gateway, provides IT departments with visibility into OT (Operational Technology) infrastructure, networks, applications, machines and workers. These OT networks are undergoing transformation and require services traditionally available for IT networks, such as secure remote access and analytics. Bayshore provides immediate value by preventing OT process disruptions and enhancing operational efficiency and business continuity.

The software is distinguished by extremely granular inspection and filtering of network flows — all the way down to machine sensor values — and the ability to provide security enforcement and application segmentation and isolation via flexible, rapidly deployed policies. Bayshore’s policy engine is capable of supporting common industrial protocols and quickly adapting to new and proprietary protocols.

These capabilities are built from the ground up for Industrial Internet and provide Bayshore’s F-100 customers with future-proof, cloud-based solutions that are complementary to legacy hardware-based industrial firewalls. Designed for IT perimeter security, firewalls look for IP addresses and ports, which means they block attacks according to standard Internet parameters. Because industrial cyber attacks are typically based on granular machine instructions that alter sensor values, Bayshore’s unique technology is well positioned to detect industrial attacks that are often overlooked by other security technologies.

If the Industrial Internet is adequately protected, General Electric estimates it has the potential to add up to $15 trillion in global Gross Domestic Product (GDP) over the next 20 years.(1) IDC believes that revenues for IoT security products, which totaled $9.4 billion worldwide in 2015, will exceed $20 billion by 2020, a compound annual growth rate of 16.5 percent.(2)

“Bayshore intends to capitalize on the rapid expansion of the market by continuing to focus on solving our customers’ problems,” said Mike Dager, the CEO of Bayshore. “That means providing protection of their industrial operations and workers. Because our software supports all popular industrial protocols and easily adapts to proprietary protocols, we will continue to target customers across a broad spectrum of industrial verticals.”

“The protection of industrial control systems from cyber attacks may be one of the most urgent areas of cyber security in the world today,” said Dr. Edward G. Amoroso, former SVP and CSO of AT&T, and now CEO of TAG Cyber LLC. “Bayshore Networks offers a range of effective and scalable software and virtual solutions to accomplish this important objective.”

Bayshore will use some of its venture capital proceeds to complete the relocation of its headquarters from New York City to Bethesda, Maryland, to access the rich cybersecurity expertise in metropolitan Washington, D.C. It will also invest the capital in R&D and in the expansion of its engineering and sales teams.

About Bayshore Networks, Inc.
Bayshore Networks®, named a Gartner Cool Vendor and SINET 16 Innovator, is the cybersecurity leader for the industrial Internet of Things. The Company’s award-winning, patented Bayshore IT/OT Gateway™ software unlocks the power of the Industrial Internet by enabling industrial applications and data. It provides Fortune 1000s with unprecedented visibility into their Operational Technologies, safely and securely protecting industrial applications, networks, machines and workers. The software platform deploys from the cloud, as a virtual machine, or on-prem as a hardware appliance. Bayshore has strategic alliances with leading technology companies including AT&T, BAE Systems, Cisco Systems, and VMware. For more information, visit www.bayshorenetworks.com.

About Trident Capital Cybersecurity
Trident Capital Cybersecurity is a venture capital firm that invests in early-stage companies leveraging emerging technologies in cybersecurity. The firm is a spinout of Trident Capital, which in 1998 became one of the pioneers of cybersecurity venture capital investing… Managing Directors Alberto Yépez, Don Dixon and Sean Cunningham jointly lead the cybersecurity investment team and sit on the boards of Airtight Networks, AlienVault, Blue Cat, Hytrust, IronNet Cybersecurity, Mocana, and Qualys. Renowned as the venture capital firm with the most valuable network of cybersecurity relationships, Trident Capital Cybersecurity also relies on input from a 40-person Cybersecurity Advisory Council, consisting of industry CEOs, customers and former top-level government leaders. Bayshore Networks is the firm’s third investment. Earlier investments were made in IronNet Cybersecurity and Survela. For more information, visitwww.tridentcybersecurity.com.

(1) “Pushing the Boundaries of Minds and Machines,” Peter C. Evans and Marco Annunziata, General Electric, November 2012.
(2) “Worldwide Internet of Things Security Products Forecast 2016-2020: Vendors Identify Practical Solutions,” doc #US40829715, January 2016.

May 10, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Nokia and Withings: Connecting People to Better Health

By Ramzi Haidamus, President Nokia Technologies

Today is a day to celebrate! Over the years, many of you have shared with us your love for Nokia. We’ve heard so many great stories about the coolest Nokia device you ever owned — something that helped define your life, make it better, more fun, and more connected to the people and things that matter to you most. Your continued enthusiasm is just one of the reasons we’re thrilled to announce some very big news today.

We’re now starting a new chapter as a company, this one focused on connecting you to better health through technology. We aim to help you lead a happier, healthier life through the kind of beautifully designed products that you expect from Nokia.

To help us do this as fast as possible, we will be welcoming Withings into the Nokia family. A leader in digital health products and apps designed to improve everyday well-being and long term health, Withings will combine perfectly with Nokia’s heritage of mobility and connectivity.

Withings products already help people manage every aspect of their health and lead a more balanced life. Their products allow you to measure how your lifestyle is affecting your wellness — how well you’re sleeping, how many calories you’re burning, how many steps you’re taking — and go beyond the numbers to give you information that matters. They help you understand how your body responds to activity and changes — the impact your activity is having on your body temperature, your weight, your blood pressure and your heart. And they do it with such a beautiful design that you love to wear them anywhere — at work, at home, or even at the opera.

Please stay tuned for more news about this new chapter for Nokia. We’re thrilled to be welcoming the Withings team to Nokia Technologies and help spread the word about all the awesome products they’re building. Together, we’ll take digital health products beyond counting and tracking to help people everywhere connect to healthier and happier lives.

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Nokia plans to acquire Withings to accelerate entry into Digital Health

Espoo, Finland – Nokia has announced plans to acquire Withings, a pioneer and leader in the connected health revolution with a family of award-winning digital health products and services to help people all over the world lead healthier, happier and more productive lives. Withings would be part of our Nokia Technologies business.

“We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market,” said Rajeev Suri, president & CEO of Nokia. “With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples’ lives.”

World Health Organization figures show cardiovascular disease as today’s number one cause of death, with more than a billion adults around the world living with uncontrolled hypertension. Diabetes now affects more than one in twelve adults worldwide, a four-fold increase since 1980. Healthcare is expected to be one of the largest vertical markets in the Internet of Things, with analysts forecasting that mobile health, with a CAGR of 37%, will be the fastest growing health care segment from 2015-2020.

“Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives,” said Ramzi Haidamus, president of Nokia Technologies. “Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health.”

The combination of innovative products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia Technologies’ world class IPR portfolio.

Withings was founded by Chairman Eric Carreel and CEO Cedric Hutchings in 2009 and is headquartered in France, with approximately 200 employees across its locations in Paris, Cambridge, US and Hong Kong. Withings’ portfolio of regulated and unregulated products includes activity trackers, weighing scales, thermometers, blood pressure monitors, home and baby monitors and more, and is built on a sophisticated digital health platform, providing insights to empower people to make smarter decisions about the health and wellbeing of themselves and their families. Withings’ own products are complemented by an ecosystem of more than a hundred compatible apps.

“Since we started Withings, our passion has been in empowering people to track their lifestyle and improve their health and wellbeing,” said Cédric Hutchings, CEO of Withings. “We’re excited to join Nokia to help bring our vision of connected health to more people around the world.”

The Nokia brand continues to be recognized, valued and trusted by consumers, built on a heritage of beautifully designed, innovative and reliable technology in the service of people around the world to help real human needs.

The planned transaction values Withings at EUR 170 million and would be settled in cash and is expected to close in early Q3, 2016 subject to regulatory approvals and customary closing conditions.

Sources:

World Health Organisation: Diabetes fact sheet; Cardiovascular diseases fact sheet; Global Health Observatory data.

P&S Market Research, “Global Digital Health Market Size, Share, Development, Growth and Demand Forecast to 2020.” November 2015

About Nokia Technologies
Nokia Technologies is Nokia’s advanced technology and licensing business. Formed in 2014, TECH builds upon our solid foundation of industry-leading licensing and technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand Licensing, and Patent Licensing, TECH is expanding the human possibilities of the ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the world’s first virtual reality (VR) camera designed for professionals.

About Nokia
Nokia is a global leader in the technologies that connect people and things. Powered by the innovation of Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. http://nokia.com

April 26, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.