Investment accelerates positioning of Jiva, ZeOmega’s care management software for providers
ZeOmega Inc., the premier provider of software solutions for population healthcare management, today announced that it successfully closed a $21.5 million growth equity financing. This minority round was led by Bregal Sagemount, a growth-focused private equity fund, with participation from ZeOmega’s existing investors BlueCross BlueShield Venture Partners, L.P. and Sandbox Industries.
As part of the financing, Phil Yates, founding partner at Bregal Sagemount, will join the company’s board of directors. TripleTree, LLC, acted as ZeOmega’s exclusive financial advisor for the capital raise. The financing will fund investments in infrastructure and personnel as ZeOmega prepares for growth in provider driven care-coordination and value-based care.
Jiva is ZeOmega’s web-based care management platform, which transforms traditional episodic-based care management into proactive and collaborative population management through EHR-enabled care plans, point-of-care tools, decision support, analytics and user- configurable workflows. Jiva facilitates integration of processes across the care management continuum, automates workflows intelligently based on client business rules, and provides effective collaboration among payers, providers and members.
“Jiva is widely recognized as one of the most innovative and flexible care management platforms on the market today,” says Sam Rangaswamy, founder and CEO of ZeOmega. “In the past 18 months, it has become abundantly clear that our platform is well suited to address the care management needs of not only payers, but also ACOs and a variety of provider organizations.”
Noting that new care and reimbursement models offer significant growth opportunity, Rangaswamy says the growth financing is key to accelerating ZeOmega’s expansion in provider and value-based care organizations.
“We’re delighted to partner with Bregal Sagemount. Their team has demonstrated an in-depth understanding of the intricacies of today’s healthcare IT market and we feel confident they will be able to help us expand our footprint in the industry,” he says. “It is likewise gratifying that BlueCross BlueShield Venture Partners and Sandbox Industries have continued their support, validating the results and value delivered as a result of the earlier round of funding.”
“Driven by clinical, financial, and regulatory needs, population healthcare management is an increasingly important part of both payer and provider workflows,” says Phil Yates of Bregal Sagemount. “We are excited to make a strategic investment in the market leader, ZeOmega, to support its continued growth.”
About ZeOmega
ZeOmega’s powerful population health management platform delivers high-value, strategic solutions enabling payers and care-delivery organizations to improve individual health and provider performance. With deep domain expertise and a comprehensive understanding of complex population health challenges, ZeOmega serves as a “true-north” partner for clients— offering flexible deployment and delivery models that leverage an innovative platform designed to integrate workflow, analytics, content and communication capabilities. By consistently meeting customer expectations and project benchmarks, ZeOmega has earned a sterling reputation in the industry for responsiveness and reliability. For more information, visit www.zeomega.com or call 214-618-9880.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private equity fund with $500 million in committed capital. Bregal Sagemount makes investments of $15 million to $150 million in market leaders in high growth segments. For more information, please see www.bregalsagemount.com. Bregal Sagemount has been active in healthcare services and technology historically and has also invested in Recondo Technology and Adreima in 2013.
About BlueCross BlueShield Venture Partners, L.P.
BlueCross BlueShield Venture Partners, L.P. is a $300 million corporate venture fund sponsored by the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield companies. For more information, please visit www.bcbsvp.com.
About Sandbox Industries
Sandbox Industries is a Chicago-based venture capital firm and startup foundry that builds and grows new businesses internally. Sandbox, founded in 2003, has launched several companies and exclusively manages the BlueCross BlueShield Venture Fund. For more information, visit www.sandboxindustries.com.
About TripleTree
TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring, and principal investing services. For more than a decade, the firm has worked with innovative, high-growth businesses in the healthcare industry. For more, visit www.triple-tree.com.
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ZeOmega Contacts:
Ron Wozny
ZeOmega
rwozny@zeomega.com
214.618.9880, Ext. 8077
or
Jennifer Jennings
Dodge Communications
jjennings@dodgecommunications.com
770.576.2556
Bregal Sagemount Contact:
Kelly Holman
BackBay Communications
kelly.holman@backbaycommunications.com
212.520.1385, Ext. 4
Trademark Information: ZeOmega and Jiva are registered trademarks or trademarks of ZeOmega, Inc. or its subsidiaries in the United States and other countries. Other marks or brands may be claimed as the property of others.
