ATLANTA--(BUSINESS WIRE)--Ingenious Med, provider of the premier patient encounter platform, today announced that Ascension Ventures, Heritage Group and Kaiser Permanente Ventures will join North Bridge Growth Equity in investing in the Atlanta-based company. North Bridge, a leading growth equity firm focused on investing in high-growth technology companies, secured a majority stake in Ingenious Med in October 2014.
North Bridge remains as lead investor, joined by Ascension Ventures, Heritage Group and Kaiser Permanente Ventures who are investing in Ingenious Med due to the success of its One by Ingenious Med (IM1) platform and roster of premier clients. The backing from these healthcare venture capital firms will help to accelerate the company’s disruptive impact and growth as it expands clinician alignment offerings.
“These firms have investment partners that include the premier health systems in the country,” said S. Hart Williford, CEO and President of Ingenious Med. “Aligning with them means lowering the cost of care through improved quality in organizations nationwide while also tying us even closer to our customer base.”
Ingenious Med provides the leading cloud-based, patient encounter platform, IM1, in the healthcare industry. The solution automates physician and care team workflow at the point of care, unifying communication, coding, revenue, and business and clinical intelligence into a single, easily integrated solution that can be accessed through mobile devices or the Web.
Ingenious Med serves 30,000 users at more than 900 healthcare facilities across the U.S., including eight of the ten largest hospitalist management companies as well as the top four health systems.
North Bridge and Ingenious Med’s newest investors are looking forward to working with the company to continue to bring increased value and innovation, impacting the future of healthcare, and their businesses specifically.
"We are excited for Ingenious Med to extend its partnerships with some of the largest and most respected provider organizations by having Ascension Ventures, Heritage Group, and Kaiser Permanente Ventures, with their provider and healthcare organization limited partner base, join North Bridge in our investment," said Roshen Menon, General Partner at North Bridge Growth Equity.
“Ingenious Med is making a real difference in the financial, operational and clinical success of our limited partner hospitals, and it was a natural fit to partner with them in this round of growth financing,” said Victor Kats, Managing Director of Ascension Ventures.
“The offerings in mobile, point-of-care solutions provided by Ingenious Med demonstrate compelling ROI and broad physician adoption across a marquee customer base,” said David McClellan, Managing Director of Heritage Group, a venture capital firm whose investors include Amedisys, Cardinal Health, Community Health Systems, Health Care Service Corporation, Intermountain Healthcare, Lifepoint Hospitals, Memorial Hermann, Tenet Healthcare, Trinity Health and UnityPoint Health.
As the healthcare industry begins to place more of a focus on value-based care, the solutions Ingenious Med provide and the support they receive from strategic partners will become even more pivotal in 2015. For more information on Ingenious Med, visit www.ingeniousmed.com.
About North Bridge
North Bridge Growth Equity, and its affiliate North Bridge Venture Partners, actively partner with founders and entrepreneurs of market leading companies, who are using technology to disrupt and reinvent big markets. With $3.8 billion of capital under management, the firm has funded more than 170 companies creating many billions in market value. Among those firms are Acquia, Actifio, Clarity Software Systems, Dyn, Demandware, Proto Labs, Starent Networks, Seniorlink, Smart Pak and Valence Health. The firm has offices in Waltham, MA and Palo Alto, CA. To learn more about North Bridge go to www.northbridge.com.
About Ascension Ventures
Ascension Ventures (www.ascensionventures.org) was launched in 2001 as a wholly owned subsidiary of Ascension Health. Today it is a subsidiary of Ascension, a parent holding company formed in 2012. Ascension Ventures’ role has been to construct and manage a strategic portfolio of investments that deliver venture level investment returns, have the potential to transform the healthcare industry and significantly enhance the experience for patients, their families and their caregivers. Ascension Ventures has three venture funds with $550 million in committed capital under management and its limited partners include Ascension, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare, Mercy and Trinity Health.
About Heritage Group
Heritage Group is a Nashville-based, venture capital firm with over 25 years of experience financing and operating healthcare companies at all stages. Created by a diverse group of the nation’s leading healthcare services firms, the Heritage Healthcare Innovation Fund is a $167M strategic initiative focused on investments in businesses that improve the delivery of healthcare services. For more information, go to www.heritagegroupusa.com.
About Kaiser Permanente Ventures
Kaiser Permanente Ventures, the corporate venture capital arm of Kaiser Permanente, makes investments in medical device, diagnostics, healthcare services and information technology companies that advance the quality and affordability of health care. Since its inception in 1997, Kaiser Permanente Ventures has invested in more than 40 venture-capital backed companies at all stages of development, and contributed organizational expertise, time and resources to the success of these companies. For additional information please visit www.kpventures.com.
About Ingenious Med
Founded in 1999 by a group of physicians that sought to use technology to address the unanswered needs of the healthcare providers with useable solutions, Ingenious Med provides an award-winning platform that automates the workflow of care teams in inpatient and outpatient environments across the country.
Ingenious Med stands as the industry leader in the revenue and data capture space, serving more than 30,000 users in the nation’s leading healthcare facilities. Now, fifteen years after its foundation, Ingenious Med continues to break new ground, developing solutions to increase the quality and coordination of care, protect and bolster revenue, and most importantly of all, put physicians’ time where it is needed most: with their patients. Find out more at www.ingeniousmed.com.