TAMPA, FL / ACCESSWIRE / May 27, 2019 / Kidney health management industry leader Healthmap Solutions Inc. ("Healthmap" or the "Company") announced today that WindRose Health Investors, LLC ("WindRose"), a New York-based healthcare private equity firm, has recapitalized the Company with a commitment of $85 million. Healthmap plans to use the funds to continue national expansion of its kidney health management services, and to support its unique model of assuming risk for reducing the cost of care for those with complex kidney health conditions.
"Financial backing from an investor of WindRose's stature and expertise provides the extra strategic insights and capital required for us to accelerate our growth and to assume the financial risk of reducing the cost of care for those suffering from complex kidney health conditions," said Joe Vattamattam, CEO of Healthmap. "We expect to provide these services in 12 states in 2020 and to continue to expand from there with a geographic expansion strategy that enables us to have an even deeper positive impact on the kidney population."
Kidney disease impacts 30 million Americans, yet 90% of those with chronic kidney disease are unaware they have the condition, resulting in lower quality of care and higher costs. For those that progress to end stage renal disease, a significant opportunity exists to improve quality of life through home dialysis. Healthmap's Kidney Health Management Program has been proven to detect the disease state early, align primary and specialty care with evidence-based guidelines and increase the use of home dialysis when appropriate, all while addressing behavioral health and social determinant of health barriers.
"We are thrilled to be partnering with Healthmap," said Oliver Moses, Managing Partner with WindRose. "We have evaluated many businesses in this sector and have identified Healthmap as the premier platform. The Healthmap team has created a differentiated solution in an area of increasing focus for health plans, at-risk providers and self-insured employers. We look forward to supporting the Company's continued growth."
VERSARi Private Capital Advisory assisted Healthmap in arranging this financing. Johnson Pope Bokor Ruppel & Burns, LLP acted as legal advisor to Healthmap Solutions. Terms of the transaction were not disclosed.
Healthmap is a kidney health management company serving health plans, including Medicare Advantage and employer-sponsored plans, as well as accountable care organizations (ACOs) and provider groups seeking value-based solutions that improve the clinical and financial performance for high-risk, high-cost kidney patient populations. The company has a rich history forged in data and analytics, having begun as a healthcare data clearing house, adding robust healthcare analytics expertise, and today Healthmap uses that experience to power complex kidney health management programs with its clinical experts. The company also provides similar integrated programs across the full range of specialty health population management. For more information email [email protected].
About WindRose Health Investors
WindRose Health Investors, LLC ("WindRose") makes equity investments in companies that operate within the services sectors of the healthcare industry. They focus on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.4 billion in investments and is currently investing out of its fifth fund. They are based in New York City and invest in companies throughout the United States. For more information go to: windrose.com.