|By Business Wire||
|April 25, 2014 10:10 AM EDT||
ZeOmega Inc., the premier provider of software solutions for population healthcare management, today released 2013 performance results reflecting a year of unprecedented, award-winning growth marked by continued market expansion, product innovation, corporate development, and successful implementations. The company will leverage this momentum to further strengthen its position as a market leader in 2014.
“One of ZeOmega’s hallmarks has always been to anticipate market needs, and to have the necessary resources in place before opportunities present themselves,” said Sam Rangaswamy, founder and CEO of ZeOmega. “This proactive approach has fueled our success for over a decade, and we’re continually modifying it to ensure that our client relationships are mutually beneficial, seamless, and efficient. It has put us in the right place as a company, and has us well positioned to take our business to an even higher level in 2014.”
Continued Business Growth
Three major ZeOmega clients went live on Jiva in 2013, including a health plan covering more than 4 million lives that entered into an agreement earlier in the year. Several existing clients also successfully implemented additional Jiva capabilities to expand their population health management initiatives. Combined, new and existing ZeOmega clients deployed Jiva capabilities to manage more than 7.5 million additional covered lives in 2013.
Expanded ACO and Provider Market Presence
Along with its major Pioneer ACO client, ZeOmega’s solutions have been selected by a health system preparing to become an ACO in St. Louis and an Integrated Delivery Network (IDN) in Washington. The IDN, which is also a Shared Savings ACO, recently completed a successful Jiva go-live and plans to ultimately deploy the technology to its provider network.
Jiva Offering Expansion
ZeOmega continued to expand its offerings to accommodate the needs of the burgeoning accountable care market. The next Jiva release, scheduled for Q2 2014, will include several ACO-centric features, such as dashboards and registries for ACO, STAR, and other measures; an advanced clinical integration engine, care transitions content, and a continued expansion into medication therapy management.
ZeOmega added several key industry veterans to its executive management team in 2013 and early 2014, each of whom will play a crucial role in helping the company sustain its momentum and market growth. They include:
- Julie Sizemore, Vice President of Client Relations
- Matt Adamson, Vice President of Product Management for ACO and Value-Based Care
- Barry Zajac, Vice President of Product Management for Predictive Analytics
- Arie van den Akker, Vice President of Business Development
- Jeff Rush, Chief Technology Officer
- Steve Lerch, SVP, Sales & Marketing and Chief Financial Officer
Additionally, by the end of 2013, ZeOmega added nearly 150 employees, bringing its total workforce to more than 400, and expects to increase to 700 employees in the next 12 months.
To accommodate its continued expansion, ZeOmega announced that it will use $21.5 million in growth equity financing it received in 2013 to fund investments in infrastructure and personnel. The investment was led by a growth-focused private equity fund, along with ZeOmega’s existing investors.
Award Winning Results
ZeOmega’s continued revenue growth was recognized with several prestigious awards in 2013.
Inc. magazine named the organization to its seventh annual Inc. 500|5000 report, an exclusive ranking of the nation’s fastest-growing private companies. ZeOmega’s three-year sales growth of 232 percent placed it #1678 across all industries recognized, and #55 of 151 companies in the Dallas Metroplex.
The company also ranked #308 on Deloitte’s Technology Fast 500™ list of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. ZeOmega’s recognition resulted from 278 percent revenue growth during the period Deloitte used to determine the 2013 ranking.
ZeOmega placed #11 on the Metroplex Technology Business Council’s Annual Fast Tech Award listing of the top 35 tech companies by growth in North Texas, making it one of only five companies to appear on the list for three consecutive years. It previously ranked #13 in 2012 and #24 in 2011.
“What we achieved in 2013 sets us up very well for continued development in 2014 and beyond,” Rangaswamy said. “We set high goals for our company last year, and exceeded them almost across the board. 2013 was very rewarding, and we plan to build on that success in our effort to be the preeminent provider of technologies that allow healthcare organizations to excel in the post-reform environment.”
ZeOmega’s powerful population health management platform delivers high-value, strategic solutions enabling payers and care-delivery organizations to improve individual health and provider performance. With deep domain expertise and a comprehensive understanding of complex population health challenges, ZeOmega serves as a “true-north” partner for clients — offering flexible deployment and delivery models that leverage an innovative platform designed to integrate workflow, analytics, content and communication capabilities. By consistently meeting customer expectations and project benchmarks, ZeOmega has earned a sterling reputation in the industry for responsiveness and reliability. For more information, visit www.zeomega.com or call 214-618-9880. Follow ZeOmega on Twitter, LinkedIn or Facebook.
Trademark Information: ZeOmega and Jiva are registered trademarks or trademarks of ZeOmega Inc. or its subsidiaries in the United States and other countries. Other marks or brands may be claimed as the property of others.
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