Big Data Healthcare Company MD Insider Closes $12 Million Series B Funding Round Led by Summation Health Ventures

MD Insider to Use Funds to Expand Sales and Marketing; Establish Its Transparency Solution As An Industry Standard

Dec 16, 2015, 09:00 ET from MD Insider

SANTA MONICA, Calif., Dec. 16, 2015 /PRNewswire/ -- MD Insider, a healthcare technology company that uses the power of big data to provide Physician Performance Transparency, today announced that it closed its Series B funding round with $12 million in investments led by Summation Health Ventures. MD Insider will use these new funds to accelerate its expansion and sales and marketing efforts, and will continue to grow its enormous pool of proprietary data that fuels its unique solution.

This round of funding also includes additional follow-on investments from existing investors Jason Ader, Gary Winnick, Tim Ferriss, and Michael Fertik.

Summation Health Ventures is a strategic investment fund formed by Cedars-Sinai and MemorialCare Health Systems to accelerate the development of information technology that can advance high-quality, effective health care. As part of their investment in MD Insider, Darren Dworkin, CIO of Cedars-Sinai, and Brant Heise, Senior Managing Director of Summation Health Ventures, have joined the MD Insider board of directors.

"This funding will accelerate MD Insider's growth in the provider space and will help to make our solution the standard in the industry," said David Norris CEO of MD Insider. "I am very pleased to have Summation Health Ventures involved, which truly underscores the value that MD Insider's solution brings to the market."

MD Insider has processed and analyzed billions of health records, covering more than 250 million patients, 850,000 doctors, over 6,000 hospitals, and more than 30,000 diseases and conditions. The company's solution provides the most advanced performance transparency in healthcare today, which helps consumers to better select providers, and helps health systems to better participate in risk-based products. In addition, using big data to understand the performance of physicians, including quality and cost, enables Health Systems to optimize and improve the quality of care that they bring to their patients.

About MD Insider:
MD Insider is an innovative healthcare technology company that uses big data to provide a Physician Performance Transparency quality score for doctors, which is fully integrated into a consumer-friendly physician search, match, and scheduling solution that better matches patients with the right doctors. MD Insider provides solutions to health systems, hospitals, ACO's, employers, and health plans.

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