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!

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.

###

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.

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.