|By Business Wire||
|January 8, 2014 08:08 AM EST||
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.
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.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 28, 2017 11:45 PM EDT Reads: 2,343
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 28, 2017 11:30 PM EDT Reads: 2,722
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 28, 2017 10:45 PM EDT Reads: 1,426
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 28, 2017 10:45 PM EDT Reads: 1,924
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 28, 2017 10:30 PM EDT Reads: 3,309
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 28, 2017 10:30 PM EDT Reads: 1,598
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 28, 2017 10:30 PM EDT Reads: 2,487
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 28, 2017 10:15 PM EDT Reads: 2,511
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 28, 2017 10:00 PM EDT Reads: 1,250
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 28, 2017 09:45 PM EDT Reads: 2,165
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 28, 2017 09:15 PM EDT Reads: 2,617
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Apr. 28, 2017 08:45 PM EDT Reads: 2,414
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Apr. 28, 2017 08:15 PM EDT Reads: 2,396
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 28, 2017 07:45 PM EDT Reads: 907
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
Apr. 28, 2017 07:45 PM EDT Reads: 2,938