Free EHR, EHR and Healthcare IT Newsletter Want to receive the latest updates on EHR, EMR and Healthcare IT news sent straight to your email? Get all the latest EHR News for FREE!

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

# # #

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.

++++

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.

MPULSE MOBILE CONTINUES GROWTH WITH $10 MILLION IN FIRST CLOSE OF SERIES A FUNDING

Critical need for proven consumer engagement strategies in healthcare drives market demand for company’s SAAS-based mobile solutions

LOS ANGELES, CA (PRWEB) – January 12, 2016

mPulse Mobile, a mobile engagement solutions provider focused on consumer health and wellness, today announced it has secured $10 million in first close of Series A funding. HLM Venture Partners led the round while pre-series A round investors OCA VenturesMerrick Ventures and Jumpstart Ventures also invested. This new funding will enable mPulse to enhance its analytics capabilities as the company builds upon its leadership position in making widespread consumer engagement in healthcare a reality.

mPulse Mobile helps many of the largest U.S.-based health plans, pharmaceutical companies and providers solve key industry challenges such as readmission reduction, elimination of gaps in care and better medication adherence through more effective patient/member engagement. This is accomplished through a mobile engagement platform that leverages insight-driven workflows to create a real-time interactive dialog with consumers across an enterprise, regardless of their medical condition. Innovations such as sentiment scoring, natural language processing and predictive analytics are utilized across various mobile channels to create successful use cases.

“HLM has a 30-year history of investing in innovative, market-leading technology for the healthcare industry,” said Yumin Choi, partner, HLM Venture Partners. “Healthcare consumers are connecting the dots between financial health and overall health, and wanting to be more active participants in their care. mPulse Mobile offers a unique combination of mobility, analytics and deep healthcare expertise that has proven to help healthcare providers and plans meet this growing demand.”

mPulse has been working with pioneers in digital health, including Inland Empire Health Plan (IEHP), a not-for-profit, rapidly growing Medi-Cal and Medicare health plan serving over 1.1 million members in California. IEHP partnered with mPulse to enable an ongoing mobile dialog with it’s members to improve engagement and health outcomes.

“Our sole focus on healthcare combined with extensive experience delivering mobile consumer solutions makes us the ideal partner for companies who need provider, plan, pharmaceutical and population health solutions,” said Chris Nicholson, CEO, mPulse Mobile. “This additional investment will enable us to further enhance our analytics and behavioral models as we create best practices across millions of mobile touchpoints to help our clients support a two-way dialog – not a monologue – to realize truly improved outcomes.”

About mPulse Mobile

mPulse Mobile offers healthcare organizations consumer-focused mobile engagement solutions that improve member and patient engagement and create administrative efficiencies. mPulse enables the leading health plans, providers and pharmaceutical companies to improve the health and wellbeing of consumers by making health care communications relevant to the modern lifestyle.

January 12, 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.

TALIX, INC. SPINS OFF AS INDEPENDENT COMPANY, SECURES $14 MILLION IN FUNDING

Funding to Fuel Development and Growth of New Healthcare Risk Adjustment Applications

SAN FRANCISCO – January 11, 2016Talix, Inc., a subsidiary of Healthline Networks, today announced it will spin off as an independent company. In conjunction with Summit Partners’ announced investment in Healthline Networks’ media business, former Healthline Networks shareholders and investors will provide $14 million in funding to Talix. This capital will be used to fund the growth of the company’s core risk adjustment product, Coding InSight, and support the development of future applications in its planned suite of patient risk management products powered by Talix’s proprietary HealthData Engine.

Dean Stephens will serve as the new Chief Executive Officer for Talix. Stephens has over 25 years of experience in healthcare, including co-founding and leading Healthline Networks. “Having secured this round of funding, Talix is well positioned to further innovate and disrupt the healthcare risk adjustment space. We are excited for this new chapter and look forward to continuing to deliver value to both our growing stable of high-profile customers and our shareholders,” said Stephens.

Talix will continue to provide information technology solutions to its traditional customers while it evolves its big patient data analytics capabilities. Continuing in executive roles with Talix will be Niraj Katwala, Murray Brozinsky, and Derek Gordon. Talix investors joining the Board of Directors include Phil Dur, representing Investor Growth Capital; Richard Harroch, VantagePoint Capital Partners; Kevin Brown, Reed Elsevier Ventures; and Mike Barber, General Electric Equity.

Talix was formed as a wholly owned subsidiary of Healthline Networks in January 2015. The company launched its first SaaS application, Coding InSight, in June 2015 and signed its first customer for the product in July 2015. Since then, the application has seen increasing adoption among both healthcare provider and payer organizations.

Talix will be exhibiting and presenting at the 2016 HIMSS Conference in February and the 2016 RISE Nashville Summit in March, where it will feature product demonstrations and customer success case studies.

About Talix

Talix provides patient risk management solutions to help healthcare organizations address the challenges of value-based healthcare and risk-based contracts. Its SaaS applications leverage patient data analytics to turn structured and unstructured health data into actionable insights that drive improved risk adjustment, better patient outcomes and reduced costs. For more information, please visit www.talix.com or follow @TalixHealth on Twitter.

January 11, 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.

NANTWORKS AND NANTHEALTH COMPLETE ACQUISITION OF NAVINET, AMERICA’S LEADING HEALTHCARE COLLABORATION NETWORK

Acquisition scales NantHealth’s cloud-based platform of services to deliver interoperability, connectivity, real-time decision support and a single sign-on operating system to over 450,000 active provider users and all-payer access to 450+ commercial and government plans nationally, covering almost 100 million lives and over 30 million monthly transactions

NaviNet Open will serve as a nationwide scalable, real-time access point and secure web-based portal for patients and providers to receive breaking news about novel clinical agents and to access active cancer clinical trials locally

Los Angeles, CA and Boston, MA – January 5, 2016— NantWorks, and its majority-owned subsidiary NantHealth, LLC, a cloud-based information technology provider combining genomic science and big data to transform healthcare, today announced that they have completed the acquisition of  NaviNet, Inc., the nation’s leading healthcare technology company of payer-provider collaboration solutions. The acquisition continues NantHealth’s vision of delivering on whole health systems integration and revolutionizing the patient-clinician experience by bringing real-time molecular and evidence-based insights to the point of care. NantVentures, the private equity arm of NantWorks participated in the financing. Financial terms were not disclosed.

“The acquisition of NaviNet completes our 10-year vision at NantWorks and NantHealth to integrate and coordinate our complex healthcare ecosystem from the knowledge domain, to the care delivery domain and now to the payer domain, as a single sign-on, seamless, cloud-based, secure adaptive learning system for patients, payers, and providers,” said Dr. Patrick Soon-Shiong, Founder and Chief Executive Officer of NantHealth. “NaviNet has a tremendous, long-term customer base of more than 40 health plans – Blue Cross Blue Shield payers, Aetna, Cigna, and many others – a nationwide network of more than 450,000 active end-users across all 50 states, and an All-Payer Access provider portal to 450+ commercial and government plans nationally built on NaviNet Open, the company’s payer-provider collaboration platform. This cloud-based system allows provider access to over 90% of covered lives in the United States and will serve as a transformative platform for the communication of cutting-edge knowledge to all.”

Since the launch of NaviNet Open in 2014, the company’s applications have expanded beyond classic administrative transactions such as insurance verification and claims management into the intimate administrative and clinical collaboration needed both in chronic disease management and newly reimbursable genetic and oncological strategies, with expanded provider access to 450+ commercial and government plans nationally. For example, the company’s Document Exchange service enables HIPAA-safe exchange of clinical information among multiple medical management, informatics, and care delivery teams. The system will serve as a nationwide, scalable real-time access point and secure web-based portal for patients and providers to receive breaking news information about novel clinical and immunotherapy agents, and to access active cancer clinical trials locally, in this age of next-generation genomic medicine.

Dr. Soon-Shiong added, “By combining NaviNet Open’s applications – eligibility and benefits from more than 450 commercial and government plans, referrals, authorizations, document exchange, claims management, and more – with NantHealth’s interoperability, decision support and connectivity platforms and with NantOmics supercomputer predictive modeling platforms, we are now poised to be the nation’s leading healthcare collaboration network by transforming the payer-provider relationship to evolve from transactions to interactions and finally to collaboration. Moreover, leveraging NaviNet’s nationwide network across more than 170,000 active provider offices and 2,000 hospital settings will allow us to reach more doctors with our genomics, decision support, and connectivity solutions to enable better care coordination at lower costs for patients. The combination of leading-edge genomic science and best-in-class applications, delivered through NantHealth, will be critical for winning the wars against cancer, hypertension, diabetes, and other life-threatening diseases. Our dream was to address the cognitive overload that faces clinicians today especially in the complexity of cancer, and support community oncologists as well as major academic centers. Finally, we have the infrastructure in place to make this a reality.”

“NaviNet is our most significant acquisition to date,” said Robert Watson, President of NantHealth. “The company’s large installed base of health plans and provider offices gives us the payer relationships and scale for delivering best-in-class genomics and clinical solutions directly to providers. In addition, NaviNet’s payer-provider solutions complement NantHealth’s existing NantOS clinical operating and supply chain operating system, establishing NantOS as the only integrated cloud-based population health management platform that encompasses patient, provider and payer interactions in real time. Together, we can now go to market with the industry’s most comprehensive and integrated portfolios for cancer care, population health, and wellness by deeply engaging every member of the healthcare ecosystem – payers, providers, patients, and pharma.”

“We are excited to join forces with NantHealth,” said Frank Ingari, president and chief executive officer of NaviNet. “By combining NaviNet’s scale with the power of NantHealth’s genomic and clinical information technology solutions, we will be able to jointly deliver accurate and relevant information to our network of over 170,000 provider offices. NaviNet’s fastest growing user base is the clinical team. Doctors, nurses, and care coordinators have embraced our new products such as NaviNet Open Document Exchange and All-Payer Access. NantHealth’s powerful and unique set of unique clinical solutions will accelerate this trend and put NaviNet at the heart of collaboration between clinicians in the service of the patient.”

With the acquisition of NaviNet, NantHealth adds roughly 330 new associates including an experienced management team who has previously held leadership roles at health plans, healthcare IT companies, and enterprise, cloud-based solutions providers. NantHealth also expands its worldwide presence to include new offices in Boston, Massachusetts and Belfast, Northern Ireland.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime. NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers physicians, patients, payers and researchers to transcend genomics into the world of proteomics and the traditional barriers of today’s healthcare system. By converging molecular science, computer science and big data technology the Nant Service Oriented Operating System (NantOS) platform empowers physicians, patients, and payers to coordinate best care, monitor outcomes and control cost in real time. This is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture and integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost. For more information please visit www.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantVentures
NantVentures is the private investment arm of NantWorks and California Capital.  NantVentures funds transformative ideas and technologies that enable enduring improvements in human life with a primary focus on healthcare and the life sciences, medical diagnostics, mobile technology, semi-conductors, nano-optics, artificial intelligence, cloud computing, alternative energy and scientific innovations that are on the bleeding edge of biology, chemistry, and physics.  Capital investments in private and public entities range from single digit to multimillion dollar commitments.  For more information, please contact info@NantVentures.com and see www.NantVentures.com

About NaviNet
NaviNet is America’s leading Healthcare Collaboration Network (HCN). NaviNet has long-term customer relationships with the nation’s largest health plans and a nationwide network of over 450,000 clinical and administrative professionals – representing 60% of the nation’s physicians – who have access to 450+ commercial and government payers and over 90% of covered lives in the United States.  Through NaviNet Open, our payer-provider collaboration platform, and our ecosystem of partners, we help payers and providers lower costs and boost care quality, while enhancing the provider and patient experience. For more information, please visit www.NaviNet.net and follow us @NaviNet on Twitter.

January 5, 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.