Lucro secures new funding from Health Insight Capital and Heritage Group

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Lucro, an enterprise founded by Martin Ventures, has secured funding from additional healthcare industry investors including Health Insight Capital, a subsidiary of HCA that invests in early stage companies, and Heritage Group, an investment team backed by the United States’ leading healthcare companies.

Lucro’s platform is designed to re-invent how health systems interact with, evaluate and purchase healthcare technologies, products and services. The Lucro Marketplace supports healthcare leaders in making strategic purchasing decisions, allowing them to discover and compare solutions and privately collaborate with their peers on decision-making. Vendors gain increased visibility and strategic market insights through engagement with healthcare organisations across the industry.
“Lucro’s research platform is a promising concept that may lead to improved purchasing decisions which ultimately could enhance the care we provide to our patients,” says Joe Sowell, HCA’s Senior Vice President, Development. “We’re optimistic Lucro will give us greater insight into healthcare innovations that could be deployed across our system to improve quality and efficiency and reduce costs.”
David McClellan, Managing Director at Heritage Group, says: “The initial experience with Lucro by healthcare organizations among our strategic investors is encouraging. We believe the Lucro Marketplace will leverage the power of this community to accelerate better decisions regarding innovation in healthcare.”
Lucro was conceived around the idea of enabling healthcare systems to more effectively leverage their scale through internal and external collaboration among trusted peers within the healthcare industry. “Not only will Lucro redefine how buyers connect with vendors, but the platform will also synthesise trusted sources of insight from across the industry to provide context and clarity for making decisions faster and with lower risk,” says Lucro’s CEO and Founder, Bruce Brandes. “We are excited to further align our efforts with HCA and Heritage Group to help not only healthcare organisations, but also the innovative solution providers and industry groups which are critical to their success.”