PLANO, TX--(Marketwired - Jan 26, 2016) - VitreosHealth, the leader in predictive and prescriptive health insights for population health management, today announced that it has secured $5 million in funding from a syndicate led by an affiliate of Kinderhook Industries, LLC ("Kinderhook"), a private equity firm with over $1.25 billion of committed capital. This brings the company's total funding raised to more than $6.2 million.
"VitreosHealth is thrilled to welcome Kinderhook to our team," said Jay Reddy, President and CEO of VitreosHealth. "The Kinderhook investment, which follows a stellar year of performance during which we grew sales by 400% and doubled our customer base, is ongoing validation of our solution's value proposition and business model."
The VitreosHealth value proposition builds on three pillars:
- Predictive and prescriptive models that deliver 2-3 times better results than other solutions in the market at identifying health outcome improvement opportunities
- Insights-as-a-Service delivery model that removes all technology barriers to realizing improvement opportunities
- A pricing model that is pay-for-performance and tied to customers' success in their population health efforts
Christian Michalik, a managing director of Kinderhook commented, "We have been very impressed with the performance of VitreosHealth over the last few years with our portfolio companies, especially GlobalHealth. After a comprehensive market study, we are excited to partner with VitreosHealth and help them in their mission to transform healthcare. We are impressed with their proven ability to enhance clinical efforts and drive better health outcomes for their customers, by making data insights available to everyone throughout the health care continuum."
GlobalHealth, a leading Oklahoma based health insurance company, is changing healthcare insurance in Oklahoma and has been a VitreosHealth customer for two years. CEO Scott Vaughn said, "We use VitroesHealth Insights to fuel our care management programs, and so far, we've reduced per member per month (PMPM) cost for the target population by 6 precent and decreased emergent admissions by 18 precent. These high-touch care management programs improve member satisfaction, and the predictive insights we capture with VitreosHealth make all the difference in our results."
About VitreosHealth
VitreosHealth enables disruptive change in population health management. Vitreos Insights-as-a-Service delivers population risk models and predictive and prescriptive health insights so everyone throughout the healthcare continuum can achieve a patient-centric focus and contribute to financial performance. With VitreosHealth's closed-loop performance management process, you can transform the business of population health management into a center of excellence to enhance clinical efforts and drive better health outcomes. Insights start with predictive clinical risk scores, non-clinical markers, gaps-in-care, and prescriptive care recommendations. We show your care managers, clinicians, administrators and C-suite, which patients and members are going to become high risk, predict their probability of hospitalization or escalation of chronic disease, and help determine the interventions they need right now to delay or avoid high-cost healthcare episodes. Healthcare providers and payers choose the insights delivery method that's right for their organization -- mobile 3-click insights apps, embedded into the EHR or workflow system, or via other electronic format. VitreosHealth Population Health Management powers all predictive and prescriptive analytics, leverages a comprehensive portfolio of disease-specific predictive risk models, and applies every source of data at your disposal: EHR, claims or billing, household, consumer, socio-economic and behavioral. VitreosHealth -- everything you need to power population health management. Learn more at www.VitreosHealth.com.
About Kinderhook Industries, LLC
Founded in 2003, Kinderhook Industries is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25-$150 million in which the firm believes it can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com.
About GlobalHealth
GlobalHealth is changing healthcare insurance in Oklahoma. As an industry leader, GlobalHealth is an Oklahoma-based health maintenance organization covering more than 45,000 individuals in all 77 Oklahoma counties. Working proactively with each member, GlobalHealth engages a personalized management plan to address their specific needs to ensure the best healthcare outcomes. GlobalHealth utilizes cutting edge, predictive data technology as a foundation to deliver improved healthcare as part of its commitment to making healthcare insurance more affordable. Its membership includes state and education employees, federal employees, municipal employees, Medicare Advantage members and private employers. GlobalHealth employs more than 300 associates throughout Oklahoma. To learn more, visit www.globalhealth.com
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