New York, Dec. 05, 2017 (GLOBE NEWSWIRE) -- VirtualHealth, the leading provider of population health and care management technologies, today announced the closing of a $7 million round of financing led by Edison Partners. This investment follows the company’s series A round in May 2016, also led by Edison. VirtualHealth has not disclosed the terms of the investment, but confirmed a substantial increase to the company’s Series A valuation. The funding provides strategic capital to fuel the company’s rapid growth and catalyze its business and technology development.
The recipient of the 2017 Frost & Sullivan Product Leadership Award in Population Health Management, VirtualHealth is the first platform to comprehensively solve healthcare business needs relating to value-based care. The secure, cloud-based platform seamlessly integrates population analytics with market-leading care, disease, and utilization management capabilities, and features unparalleled interoperability, deployment speed, and configurability.
“Edison Partners has been a strong partner and adviser to VirtualHealth as we have followed an upward growth trajectory,” said VirtualHealth founder and CEO Adam Sabloff. “It’s an exciting time as we have seen 1,600 percent growth in monthly revenues, 1,000 percent growth in lives managed, and 10x growth in staffing since January 2016.”
VirtualHealth is the embodiment of Sabloff’s vision for a patient-centric care management platform that provides a unified solution for care team collaboration across the healthcare continuum. While spearheading development of the first Ritz-Carlton Residences in Baltimore, Sabloff identified a disproportionate care gap affecting aged, chronically ill, and low-income populations. In founding VirtualHealth, Sabloff brought together a cross-disciplinary group of industry luminaries with the goal of building technology that could comprehensively address the fragmented nature of care delivery.
With an unwavering commitment to advanced technologies coupled with exceptional professional services, VirtualHealth has made a tremendous positive impact on healthcare organizations in both the government program and commercial arenas and has grown rapidly since it became available in the market in late 2014.
“VirtualHealth is disrupting value-based care management, where legacy technologies have made it increasingly challenging to address operational and regulatory complexity,” said Lenard Marcus, Partner at Edison Partners. “We have seen first-hand the value that VirtualHealth brings to complex populations in the Medicare and Medicaid markets, and it is nothing short of transformational.”
VirtualHealth was represented by Josh Kalish at Odell Girton Siegel LLC.
VirtualHealth provides the leading platform purpose-built for integrated value-based care. Winner of the 2017 Frost & Sullivan Product Leadership Award, VirtualHealth offers a vast range of technology capabilities to payer and provider markets, including person-centered care/case management, disease management, utilization management, interdisciplinary collaborative workflows, broad spectrum interoperability, patient engagement, and configurable analytics and reporting. VirtualHealth empowers healthcare organizations to achieve enhanced outcomes while maximizing efficiency, improving transparency, and lowering costs. VirtualHealth is a member of Healthcare Information and Management Systems Society (HIMSS) and America's Health Insurance Plans (AHIP) and an invited member of Healthcare Executive Group (HCEG). For more information, please visit www.VirtualHealth.com.