triValence Appoints Will Byington as Chief Executive Officer

Healthcare Services Veteran Brings Deep Expertise in Operations, Supply Chain Management to Drive Next Stage of Growth

MINNEAPOLIS--(BUSINESS WIRE)--triValence, the healthcare services company delivering next-generation, AI-powered infrastructure to automate supply chain management and payment processes, today announced the appointment of Will Byington as Chief Executive Officer. Byington assumes leadership at a time of rapid growth for triValence, bringing extensive expertise in operations and supply chain management at the intersection of healthcare and technology.

“We are thrilled to usher in this next chapter of triValence’s growth under Will’s leadership,” said Kavita Patel, M.D., Chairperson of the triValence Board of Directors and Venture Partner at NEA. “His wealth of experience and leadership in healthcare services and technology will be instrumental in guiding the company’s continued growth as it transforms B2B healthcare transactions and enables partners to fulfill their patient care missions.”

triValence was founded in 2022 with an investment from NEA, a global venture capital firm, to unify leading-edge innovation in both financial and healthcare technologies. Its platform integrates seamlessly with existing systems to provide a single interface for procurement decision-making, including real-time analytics, AI-driven risk assessment, predictive modeling and automated alerts.

“triValence’s powerful platform is designed to address the unique challenges faced by fast-growing healthcare networks, and we are excited to partner with forward-thinking organizations that recognize the critical role of advanced supply chain management in delivering exceptional patient care,” said Byington. “Healthcare providers and their suppliers are under increasing pressure to cut costs and protect their margins, and the opportunity to drive value for these stakeholders is what compelled me to join triValence—I believe we can make a real difference, and I’m excited to work with our talented team to catalyze growth and have a meaningful impact on our ecosystem.”

Prior to joining triValence, Byington held business unit leadership roles at Cloudmed and R1 RCM and served in successive leadership roles at Vizient and MedAssets across several key functions including business strategy, product management, and operations. He previously served as an Intelligence Officer in the United States Navy, completing two aircraft carrier deployments in Afghanistan as part of an F/A-18 strike fighter squadron. He earned an MBA as well as a bachelor’s degree in industrial and systems engineering from Georgia Institute of Technology.

About triValence

triValence is revolutionizing B2B healthcare payments with a next-generation, AI-powered solution to automate payment processes and supply chain management. The company’s platform leverages the latest innovations in financial and healthcare technologies to deliver actionable insights and enable constituents across the healthcare ecosystem to optimize performance, minimize complexity, and eliminate administrative waste. Founded in 2022 with backing from NEA, a leading global venture capital firm, triValence is headquartered in Minneapolis, MN. For more information, visit www.trivalence.com.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has more than $25 billion in assets under management as of June 30, 2024, and invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 280 portfolio company IPOs and more than 465 mergers and acquisitions. For more information, please visit www.nea.com.