NEW YORK, May 18, 2016 /PRNewswire/ -- Virtual Health, the pioneering provider of next generation health care technology, today announced that it has received an investment round led by Edison Partners, a leading growth equity firm. The funding further accelerates Virtual Health's momentum and enables the company to ramp business and technology development, pacing market interest in its industry leading platform for value-based care.
Virtual Health is the first true population health management platform that delivers a 360-degree patient view and enables collaboration across the full care continuum. The secure, cloud-based platform supports real-time analytics-driven care, disease and utilization management and includes unparalleled data integration, rapid deployment and a modular architecture that supports a unique level of scalability and flexibility.
"The combination of Edison's decades of expertise in health care technology, coupled with their value-add platform and their stellar reputation make them an ideal partner. Their participation both provides a powerful catalyst to our growth and sends an important signal to the industry," said Adam Sabloff, CEO of Virtual Health. "We have seen other vendors rebrand legacy systems or bring to market slice-of-pie solutions promising population health management, but fall short when marketing claims are held up to actual capabilities. Edison's backing reaffirms what our clients have uniformly said: Virtual Health is, quite simply, the most comprehensive, cost-effective, customizable and interoperable solution for value-based programs in the market."
Since commercial launch in 2014, Virtual Health has gone from being leveraged in managing 1,500 to nearly 1.5 million patient lives across Medicaid, Medicare, and commercial populations. Customers include national and regional health plans, large self-insurers, leading managed care organizations such as NextLevel Health, human services agencies such as Services for the Underserved, accountable care organizations such as Altus ACE, medical facilities such as Parker Jewish Institute, and municipalities such as Town of North Hempstead, NY, among others.
"We applaud Virtual Health's innovation and commitment to delivering a results-driven approach to population health management," said Lenard Marcus, partner at Edison Partners and co-leader of health care IT investments. "Edison is confident Virtual Health's unique business model and service offerings will continue to set the company apart from other market players and bring unparalleled value to its future clients."
ABOUT VIRTUAL HEALTH Virtual Health is the first true population health management platform built for the transition to value-based care. Virtual Health offers a vast range of functionalities, including interdisciplinary clinical workflows, electronic health record aggregation, behavioral health management, broad spectrum telehealth, care team collaboration, real-time and predictive analytics, quality metrics, patient engagement and customizable reporting. Virtual Health empowers health plans, managed care organizations, government agencies, and accountable care organizations to provide patients with a better quality of life and enhanced outcomes while maximizing efficiency, improving transparency and lowering costs. For more information, visit www.virtualhealth.com.
ABOUT EDISON PARTNERS For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.