Jvion Secures Significant Strategic Growth Investment to Expand Application of Its Healthcare AI and Prescriptive Analytics Platform
Investment will help meet surging healthcare demand for an AI-driven clinical decision support solution that improves patient outcomes, lowers the cost of care, and addresses challenges across various healthcare market segments.
ATLANTA (PRWEB) JANUARY 03, 2019
Jvion, the market leader in healthcare AI, announced today that it raised a significant growth equity investment led by JMI Equity (JMI)—a growth equity firm focused on investing in leading software companies. Additional investors in the fundraise include Health Enterprise Partners (HEP) and Health Velocity Capital (HVC), two leading healthcare investment firms whose limited partner networks comprise some of the largest hospital systems and health plans in the country.
Jvion will use the funding to further establish its leadership position in healthcare AI – accelerating expansion across the provider market, driving application of the company’s AI platform to other segments including the payor and pharmaceutical markets, and fueling the company’s rapid pace of innovation to better serve its customers and constantly improve patient care.
“The need for effective enterprise AI specific to meeting the challenges in healthcare is only going to grow as unmet clinical demand and costs increase,” said Shantanu Nigam, CEO of Jvion. “Jvion’s prescriptive analytics approach is playing a key role in directing the right care to the right patients at the right time, leading to improved health outcomes and significant cost reductions for our customers. This financing and our partnership with JMI, HEP, and HVC will enable us to help more patients across more communities and better serve the complex, dynamic needs of the broader healthcare marketplace.”
Founded in 2011, Jvion has developed the Cognitive Clinical Success Machine — a unique approach to improving patient care that uses artificial intelligence to turn healthcare data into prescriptive clinical intelligence, reducing patient-level clinical variation and improving intervention effectiveness. Using complex mapping and advanced machine learning techniques, the machine fills the gap created by EHRs, data warehouses, and basic predictive analytics solutions by delivering on the promise of actionable insights that drive toward better patient outcomes. Jvion’s platform identifies specific patients on a risk trajectory, determines if that trajectory can be changed, and, if so, provides individualized patient-specific interventions that help improve outcomes.
“Jvion is taking a unique approach to solving a massive pain point in the healthcare ecosystem. We were impressed with the feedback from Jvion’s customers and partners, specifically around improving patient outcomes, reducing costs and addressing new challenges in the evolving value-based care world,” said Matt Emery, General Partner at JMI Equity, who has joined Jvion’s Board of Directors. Added Sureel Sheth, Principal at JMI who has also joined Jvion’s Board, “We look forward to helping Jvion scale to meet growing demand across the care continuum, build on the company’s history of success with some of the leading health systems in the country, and explore the application of its prescriptive analytics platform to new areas within the healthcare market.”
Raymond James served as the exclusive financial advisor to Jvion in the transaction.
About Jvion
Jvion delivers healthcare’s only Cognitive Clinical Success Machine. Using Eigen-based technology, the machine does what simple predictive analytics or machine learning models cannot. It goes beyond high-risk patient populations to identify those on a trajectory to becoming high risk. It determines the interventions that will more effectively reduce risk and enable clinical action. And it accelerates time to value by leveraging established patient-level intelligence to drive action across hospitals, populations, and patients. For more information, visit http://www.jvion.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 140 businesses in its target markets, successfully completed over 90 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit https://www.jmi.com.
About Health Enterprise Partners
Health Enterprise Partners invests primarily in privately held, lower middle market companies in health care services and health care information technology. Central to HEP’s strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of health care. For more information, please visit http://www.hepfund.com.
About Health Velocity Capital
Health Velocity Capital invests exclusively in innovative healthcare software and services companies. The firm’s partners have more than 50 collective years as investors, entrepreneurs and senior executives helping to build innovative companies that created important new healthcare markets and/or that became market leaders. In addition to investing on behalf of institutional investors, Health Velocity invests on behalf of a number of our nation’s largest and most influential healthcare organizations and many of their top executives who collectively represent organizations that provide health insurance to more than 140 million Americans, operate almost 300 hospitals, provide pharmacy and PBM services to more than 75% of all Americans, and provide software and services to every major hospital in the United States. For more information, please visit http://www.healthvelocitycapital.com.
Media Contact for Jvion
Allison Kavanagh
Jvion, Inc.
allison.kavanagh@jvion.com
Media Contacts for JMI Equity
Chuck Dohrenwend or William Braun
Abernathy MacGregor
212-371-5999
cod@abmac.com / whb@abmac.com
