Central Logic, a provider of transfer centre and on-call scheduling technology solutions for healthcare systems, closed a Series C growth equity financing in July led by Iron Gate Capita and Mercato Partners.
The Series C round was put in place to ensure the company meets the market demand for its suite of products. In addition to its market-leading Transfer Center and On Call Scheduling software, Central Logic released two new software modules this year in business intelligence and post-discharge patient communication.
“Central Logic has experienced remarkable growth over the past few years. Its software suite has broadened to address mission critical market needs by hospitals for a truly optimised patient flow: improved efficiency, actionable business insight and intelligence, and lower readmission rates,” says Ryan Pollock, managing partner of Iron Gate Capital. “They are the clear leader in their field and we are excited to be a Central Logic shareholder and partner.”
Used by nearly 500 healthcare customers around the country, Central Logic’s products are built on a cloud-based, SaaS architecture. The company’s solutions, which seamlessly complement other electronic health records technologies, provide integrated, automated reports to uniquely help hospitals gather, track, interpret and provide actionable reporting of real-time data from inside and outside their four walls to increase transfers and reduce patient “leakage.” Central Logic solutions also track post-acute care, enhancing patient satisfaction and lowering readmission.
“We are thrilled to welcome Iron Gate Capital to the Central Logic family. They, along with Mercato Partners, clearly recognise the quality of our product suite as well as our ability to serve the needs of our customers,” says Jennifer Holmes, Central Logic president and CEO. “We are passionate about delivering innovative solutions to improve our clients’ data visibility, thus creating better care for patients and facilitating more efficient health industry decisions. Having the support of these respected equity firms gives us strong backing for our current and future growth plans.”
Hospitals and health systems that use Central Logic Transfer Center have experienced a reduction in patient leakage by an average of 25 percent and an increase in transfer volume by an average of 20 percent. Customers using Central Logic On Call Scheduling have seen scheduling accuracy improve by as much as 20 percent, recapturing an average of more than 180 staff hours per month.
“The return on investment that health systems realise when using Central Logic technology is remarkable,” says Alison Wistner, managing director at Mercato Partners. “We are excited to continue our affiliation with a true industry leader that is enhancing the market with unparalleled innovation. With our latest investment, we are committed to helping Central Logic continue to expand their business and improve the patient experience across the board.”
In 2015, Central Logic strengthened its leadership team by appointing Jennifer Holmes to president and CEO. Holmes, a 28-year healthcare industry veteran, has held executive positions with companies such as MedAssets, EKOS, Guidant Corporation and Boston Scientific. Additionally, the company streamlined its customer service and product innovation and management focus by realigning the responsibilities of its founders. With the new infusion of equity announced today, Ryan Pollock from Iron Gate Capital joins Central Logic’s board of directors.