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Valence Health secures USD30m from North Bridge

Valence Health has secured a USD30 million minority investment from North Bridge Growth Equity, a venture capital growth equity firm focused on investing in mid-stage, emerging and high-growth technology companies.

North Bridge Growth Equity is affiliated with North Bridge Venture Partners. The funds will be used to accelerate the company’s exceptional growth trajectory by adding seasoned healthcare talent; investing in strategic sales and marketing initiatives; and expanding its integrated suite of solutions aimed at improving healthcare and lowering costs through clinical integration, quality management and risk assumption.

In addition to the financial investment, North Bridge has helped Valence Health bring together some of the healthcare industry’s leading figures to form its Board of Directors. Valence Health’s new Board includes:

Chris Kryder, MD, non-executive Board Chair for Valence Health and founding CEO of D2Hawkeye (acquired by Verisk Analytics), co-founder of Generation Health (acquired by CVS/Caremark) and former Chief Medical Officer of Mariner Health

Bob Sheehy, former CEO of UnitedHealthCare

George Lynn, former Chair of the American Hospital Association (AHA) and former CEO of AtlantiCare

Phil Kamp, co-founder and CEO of Valence Health

Todd Stockard, co-founder and President of Valence Health

Bill Geary, Partner, North Bridge Venture Partners

Mike Pehl, Partner, North Bridge Growth Equity

Additionally, Roshen Menon, Principal, North Bridge Growth Equity, will join the Board as an observer.
With the healthcare industry’s move to a collaborative care model, healthcare providers are facing new regulations and increased financial pressures to achieve efficient care delivery that is focused on the patient. Valence Health offers tech-enabled, patient-centered solutions that combine data aggregation and sophisticated data analytics with web-based reporting tools to give providers the information they need to deliver collaborative care across the care continuum to improve patient outcomes, while meeting the new standards and regulations. It also arms providers with the ability to prove that new metrics are truly being met in order to achieve optimal reward.

“Regulatory and economic incentives are forcing fundamental changes in how patient care is being delivered. Valence Health has established itself as an emerging leader in this fast-growing market,” says Bill Geary, Partner, North Bridge Venture Partners. “The company has put together a proven solution that brings together the tools, technology, and processes to assess opportunities, measure outcomes and ensure appropriate payment for quality care across various delivery settings within organisations. We are confident that we are partnering with a great team in the competitive healthcare market and look forward to helping Valence Health reach its full potential.”

For 15 years Valence Health has been leading the way in enabling healthcare providers to optimise their systems to deliver quality care. The company’s health plan services offering provides a full suite of medical, financial, analytic, and call centre services for the effective utilisation of health care dollars. Customers can choose a complete outsourced solution or opt to outsource specific functions. Whichever option a customer chooses, Valence Health’s seasoned, multi-disciplinary teams of medical, financial and technical professionals will plan, implement and manage the solution that best fits the customer’s needs. Today, Valence Health currently works with some of the nation’s leading health organisations, including the Cleveland Clinic, Texas Children’s Hospital, Driscoll Children’s Health Plan, OhioHealth Group, St. Luke’s Episcopal Health System, Scott and White Health Plan, NorthShore University Health System, Alliant Health Plan and Nationwide Children’s Hospital.

“North Bridge’s investment goes far beyond the obvious financial benefits of funding our ongoing product development and expanding sales and marketing,” says Phil Kamp, CEO of Valence Health. “It enables us to bring together a powerhouse Board of Directors whose collective experience and contacts throughout the healthcare industry are unparalleled. We are excited to have these high caliber healthcare executives help guide us in our mission to provide best-in-class accountable care solutions that improve the efficiency and accountability of healthcare providers resulting in better patient care and lower costs.”

 

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