Thursday, July 16, 2009

MedVentive Secures $7.25M Funding Led by Excel Venture Management and HLM Venture Partners

MedVentive, the leading provider of integrated performance management solutions for health plans and providers, announced a Series C $7.25M investment. New investor, Excel Venture Management, a premier investment partner in the healthcare industry, co-led the round with existing investor HLM Venture Partners, and Long River Ventures also participated in this round. Enrico Petrillo, M.D., Managing Director at Excel Venture Management, will join the Company’s Board of Directors and Caleb Winder, Vice President at Excel will be a Board Observer.

“MedVentive has benefited from sophisticated healthcare investors, HLM Venture Partners and Long River Ventures, who have contributed greatly to our success. Through this investment, we add another experienced and healthcare savvy member to our Board of Directors, Dr. Petrillo. We are fortunate to have a Board that understands our vision to meaningfully improve the quality, efficiency, and value of healthcare through innovative technology. Robust integrated platforms that foster collaboration and drive proactive care improvement will ultimately help transform our healthcare system,” concludes Dr. Jonathan Niloff, Chairman of the Board, CEO, and co-founder of MedVentive.

MedVentive has worked with leading provider and payer organizations to develop and deploy innovative, clinically sophisticated approaches to successfully reduce healthcare costs and improve the quality of patient care. MedVentive offers a fully-integrated suite of business intelligence and outreach applications that support best-in-class pay for performance programs, physician efficiency profiling and information-sharing, quality intervention, pharmacy management, and point-of-care decision support tools – all built on a risk-adjusted data foundation.

“We believe MedVentive is an exceptional company with the potential to make a major impact on our healthcare system by engaging physicians as partners to improve the quality of patient care, while reducing costs,” said Enrico Petrillo, M.D. “We are pleased to have co-led this round of financing and to enable MedVentive to expand the adoption of their comprehensive and integrated performance management solutions.”

1 comment:

Anonymous said...

intriguing to say the very least