Valence Health, a Chicago, Illinois-based provider of clinical integration and health plan services, has secured a $30m minority investment from North Bridge Growth Equity.
The company intends to use the funding to add seasoned healthcare professionals; invest in strategic sales and marketing initiatives; and expand its integrated suite of solutions.
In addition to the financing, North Bridge has helped Valence Health form its Board of Directors, which now includes:
– Chris Kryder, M.D., non-executive Board Chair for Valence Health and founding CEO of D2Hawkeye (acquired by Verisk Analytics), co-founder of Generation Health (acquired by CVS/Caremark) and former Chief Medical Officer of Mariner Health
– Bob Sheehy, former CEO of UnitedHealthCare
– George Lynn, former Chair of the American Hospital Association (AHA) and former CEO of AtlantiCare
– Phil Kamp, co-founder and CEO of Valence Health
– Todd Stockard, co-founder and President of Valence Health
– Bill Geary, Partner, North Bridge Venture Partners
– Mike Pehl, Partner, North Bridge Growth Equity
Roshen Menon, Principal, North Bridge Growth Equity, will join the Board as an observer.
Led by Phil Kamp, CEO, Valence Health offers healthcare providers with tech-enabled, patient-centered solutions that combine data aggregation and data analytics with web-based reporting tools. The company currently works with some leading health organizations, including the Cleveland Clinic, Texas Children’s Hospital, Driscoll Children’s Health Plan, OhioHealth Group, St. Luke’s Episcopal Health System, Scott and White Health Plan, NorthShore University Health System, Alliant Health Plan and Nationwide Children’s Hospital.
FinSMEs
19/06/2012