HIT Vendor Gets $77.5M in Private Equity

Jan. 8, 2014
MedHOK, a Tampa, Fla.-based company that provides an integrated care management platform for accountable care organizations (ACOs) and risk-bearing entities, received $77.5 million in equity investment this week.

MedHOK, a Tampa, Fla.-based company that provides an integrated care management platform for accountable care organizations (ACOs) and risk-bearing entities, received $77.5 million in equity investment this week.

Investing in the company was Bain Capital Ventures, the venture and growth capital affiliate of Bain Capital, and Spectrum Equity. The two gave MedHOK money in exchange for a minor ownership stake. After a record breaking year of investment in digital health, the MedHOK deal has already gotten 2014 off to a fast start, surpassing all but two deals (in dollar size) from last year.

“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,” Jeff Crisan, managing director at Bain Capital Ventures, said in a statement. “MedHOK bridges the disparate silos of medical and pharmacy to deliver a member-centric experience and improved care for its customers.”

Population health is a major theme in recent investment deals. The biggest deal of 2013 was $100 million for Arlington, Va.-based Evolent Health, which also helps entities manage populations in a pay-for-performance payment model.

According to Reuters, MedHOK is a future candidate for public listing or sale. MedHOK’s integrated care management platform claim to be able to integrate clinical information between provider organizations within an ACO in real-time, for the purpose of improve care and reduced costs. It also serves payers and patient-centered medical homes (PCMH).

Reno, Nev.-based Hometown Health and Inland Empire Health are among MedHOK’s customers.

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