|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.
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Nov. 27, 2015 12:45 AM EST Reads: 391
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application del...
Nov. 27, 2015 12:00 AM EST Reads: 330
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Nov. 26, 2015 11:00 PM EST Reads: 417
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 26, 2015 10:00 PM EST Reads: 391
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Nov. 26, 2015 04:00 PM EST Reads: 381
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Nov. 26, 2015 03:30 PM EST Reads: 524
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Nov. 26, 2015 03:30 PM EST Reads: 444
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. 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 Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Nov. 26, 2015 03:15 PM EST Reads: 520
We are rapidly moving to a brave new world of interconnected smart homes, cars, offices and factories known as the Internet of Things (IoT). Sensors and monitoring devices will touch every part of our lives. Let's take a closer look at the Internet of Things. The Internet of Things is a worldwide network of objects and devices connected to the Internet. They are electronics, sensors, software and more. These objects connect to the Internet and can be controlled remotely via apps and programs. ...
Nov. 26, 2015 02:15 PM EST Reads: 499
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
Nov. 26, 2015 01:00 PM EST Reads: 392
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Nov. 26, 2015 01:00 PM EST Reads: 291
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 26, 2015 12:00 PM EST Reads: 151
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Nov. 26, 2015 11:30 AM EST Reads: 121
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 26, 2015 11:00 AM EST Reads: 445
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 26, 2015 11:00 AM EST Reads: 125