Welcome!

News Feed Item

MedHOK Announces $77.5 Million Growth Equity Investment from Bain Capital Ventures and Spectrum Equity

MedHOK (Medical House of Knowledge), a leader in providing a single platform for care, quality and compliance for health plans, PBMs and other risk-bearing entities, announced today that Bain Capital Ventures, the venture and growth capital affiliate of Bain Capital, and Spectrum Equity, a leading growth equity firm focused on the information economy, have invested an aggregate of $77.5 million to acquire minority stakes in the Company.

“Our vision for MedHOK was to create a platform that improves quality of care by enabling our stakeholders to proactively manage care in a compliant manner,” said MedHOK CEO Anil Kottoor. “Our technology team brought that vision to life and, as a result, MedHOK has positively impacted the lives of more than 22 million health plan members. As we move into the next phase of growth, we believe there are significant benefits to partnering with two of the nation’s premier private equity firms with proven track records in healthcare. I look forward to leveraging the experience and guidance of Bain Capital Ventures and Spectrum Equity as we work together to continue to drive MedHOK’s growth and maximize its market potential.”

“We are excited about partnering with MedHOK, a company with the foresight to recognize and respond to healthcare’s shift to a performance-based care model that links reimbursements to quality of outcomes rather than quantity of transactions,” said Jeff Crisan, Managing Director at Bain Capital Ventures. “MedHOK bridges the disparate silos of medical and pharmacy to deliver a member-centric experience and improved care for its customers.”

“Along with care and quality, we believe that compliance and risk mitigation will continue to be top priorities for health plans and that MedHOK’s platform is very well-positioned to address these needs,” said Jim Quagliaroli, Managing Director at Spectrum Equity. “As a rapidly growing software platform addressing a large and complex market opportunity, MedHOK is a great fit for Spectrum Equity, and we look forward to working with Anil and the MedHOK team.”

MedHOK’s unique Software-as-a-Service (SaaS) model allows clients to rapidly deploy and easily maintain MedHOK’s scalable solutions, for lower up-front and ongoing costs. MedHOK’s software is fully NCQA-certified for HEDIS®, Pay for Performance and Disease Management performance measures, and is compliant with CMS and State regulations, ensuring consistent application of rules and regulations across the continuum of care.

About MedHOK

MedHOK (Medical House of Knowledge) serves risk-bearing entities covering more than 22 million lives, making it one of the healthcare industry’s fastest-growing software-as-a-service (SaaS) companies. MedHOK is a leader in providing an integrated, cloud-based platform that delivers a quality and compliance solution covering both Rx and Medical care for health plans, pharmacy benefit managers (PBMs), accountable care organizations (ACOs) and other risk-bearing entities. MedHOK’s technology was built from the ground up to improve outcomes by addressing the multiple needs of its customers in three critical areas – care, quality and compliance – while promoting workflow efficiencies, reducing redundancies and increasing reimbursement. MedHOK’s platform holds current NCQA certification in HEDIS®, Pay for Performance and Disease Management performance measures.

About Bain Capital Ventures

Bain Capital Ventures is the venture and growth capital affiliate of Bain Capital, which has approximately $70 billion of assets under management worldwide. The firm's history of investing in venture and growth stage companies dates back to 1984 with over 125 venture and growth investments since inception. Bain Capital Ventures manages approximately $2 billion of committed capital, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has a long and rich history of successful investing in healthcare, software and business services businesses by working in partnership with management teams to pair talented and passionate entrepreneurs with industry experts, open doors to customers, and collaborate on sound long-term strategies. Several notable prior investments in innovative healthcare companies include Liazon (acquired by Towers Watson), Humedica (acquired by United Health), Liberty Dialysis (acquired by Fresenius) and Minute Clinic (acquired by CVS).

About Spectrum Equity

Spectrum Equity is a leading growth equity firm that provides capital and strategic support to innovative companies in the information economy. Spectrum Equity’s current and historical healthcare investments of note include HealthMEDX, a provider of long-term and post-acute care technology; Net Health, a provider of software solutions for outpatient specialty care; Passport Health Communications, a provider of patient access solutions for hospitals and physicians (acquired by Experian); and QTC Management, the nation’s largest provider of outsourced disability evaluations (acquired by Lockheed Martin). Spectrum Equity is an active investor in Software & Information Services and Internet & Digital Media businesses including Ancestry.com, BATS, EagleView, GrubHub Seamless, lynda.com and SurveyMonkey.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
I think DevOps is now a rambunctious teenager - it's starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU's GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes. In...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...