January 26, 2016
Plano, Texas – VitreosHealth, the leader in predictive and prescriptive health insights for population health management, today announced that it has secured $5 million in funding from a syndicate led by an affiliate of Kinderhook Industries, LLC (“Kinderhook”), a private equity firm with over $1.25 billion of committed capital. This brings the company’s total funding raised to more than $6.2 million.
“VitreosHealth is thrilled to welcome Kinderhook to our team,” said Jay Reddy, President and CEO of VitreosHealth. “The Kinderhook investment, which follows a stellar year of performance during which we grew sales by 400% and doubled our customer base, is ongoing validation of our solution’s value proposition and business model.”
The VitreosHealth value proposition builds on three pillars:
- Predictive and prescriptive models that deliver 2-3 times better results than other solutions in the market at identifying health outcome improvement opportunities
- Insights-as-a-Service delivery model that removes all technology barriers to realizing improvement opportunities
- A pricing model that is pay-for-performance and tied to customers’ success in their population health efforts
Christian Michalik, a managing director of Kinderhook commented, “We have been very impressed with the performance of VitreosHealth over the last few years with our portfolio companies, especially GlobalHealth. After a comprehensive market study, we are excited to partner with VitreosHealth and help them in their mission to transform healthcare. We are impressed with their proven ability to enhance clinical efforts and drive better health outcomes for their customers, by making data insights available to everyone throughout the health care continuum.
GlobalHealth, a leading Oklahoma based health insurance company, is changing healthcare insurance in Oklahoma and has been a VitreosHealth customer for two years. CEO Scott Vaughn said, “We use VitroesHealth Insights to fuel our care management programs, and so far, we’ve reduced per member per month (PMPM) cost for the target population by 6 precent and decreased emergent admissions by 18 precent. These high-touch care management programs improve member satisfaction, and the predictive insights we capture with VitreosHealth make all the difference in our results.”