ProgenyHealth, a Plymouth Meeting, Pa.-based company focused exclusively on neonatal intensive care unit (NICU) utilization and case management, received a growth investment from Sunstone Partners, a private equity firm that invests in technology enabled services and software companies.
The amount of the deal was not disclosed.
Sunstone will help the company expand its platform and will provide strategic advice to guide Progeny through its next stage of growth.
Led by Ellie Stang, MD, President and Chief Executive Officer, ProgenyHealth works with both commercial and Medicaid health plans to improve the outcomes of premature and medically complex newborns through provider collaboration and parental engagement. Its team of neonatologists, pediatricians and NICU nurses advise families for the first year of each infant’s life. Its Baby Trax electronic health record and an associated mobile app connect families and providers to the ProgenyHealth team.
The company has worked with over 1,300 hospitals and 6,000 providers nationwide.