MedVentive announces completion of oversubscribed Series C fundraising

MedVentive announced today the completion of its oversubscribed Series C fundraising. The $10 million in capital is targeted to fuel the company's next phase of product innovation, which will expand the ability of its technology to reduce costs to purchasers while improving the quality of care to patients. In particular, MedVentive is uniquely capable of supporting health plans and providers in their move to the healthcare industry's newest value-based purchasing models - such as Accountable Care Organizations (ACO), global payments, and clinically integrated networks.

“Core is extremely pleased with MedVentive's progress - technology advancements, market expansion, client initiatives, extension of their team, and overall growth. We expanded our investment with MedVentive to support their continued leadership in technology solutions focused on improving the quality of care and performance, while reducing medical expense”

New investor Clarian Health Ventures (CHV), the for-profit investment arm of Indiana's largest health care system, Clarian Health Partners, Inc., provides a strong strategic partner for MedVentive. Kyle Salyers, Managing Director of Clarian Health Ventures commented, "We selected MedVentive for our portfolio because our philosophy is not just financially supporting innovative approaches to solving crucial healthcare issues, but being active contributors to the company's success through a strong commercial relationship. Incentives in the health care market will increasingly be tied to performance, and the delivery system must have the data and analytical tools to measure and improve quality. MedVentive's solutions are uniquely positioned to provide this capability across care settings and across target patient populations. "

Core Capital Partners, a leading early-stage venture fund headquartered in Washington, D.C. , expanded their earlier, unannounced investment in MedVentive's Series C round. "Core is extremely pleased with MedVentive's progress - technology advancements, market expansion, client initiatives, extension of their team, and overall growth. We expanded our investment with MedVentive to support their continued leadership in technology solutions focused on improving the quality of care and performance, while reducing medical expense," said Mark Levine, Managing Director at Core Capital Partners.

"We are delighted to welcome Clarian Health Ventures and Core Capital to the MedVentive investment syndicate", commented Dr. Enrico Petrillo, Managing Director at Excel Venture Management, which co-led the Series C financing with HLM Venture Partners. "Along with Excel, HLM Venture Partners and Long River Ventures, we have built an outstanding team to support MedVentive's growth. The quality of the investors and the oversubscribed nature of the round are a testament to MedVentive's competitive edge and its ability to lower costs in the healthcare system while improving outcomes for patients."