Health Catalyst Raises $70 Million to Fuel Product Development
SALT LAKE CITY, March 19, 2015 /PRNewswire/ — Health Catalyst, a leader in healthcare data warehousing, analytics and outcomes improvement, announced it has raised $70 million. The funding round, led by existing investor Norwest Venture Partners, included contributions from other existing investors Sequoia Capital, Kaiser Permanente Ventures, Sorenson Capital, CHV Capital (an Indiana University Health Company) and Partners HealthCare.
Also participating in the round were new investors Sands Capital Ventures, Tenaya Capital, Epic Ventures, and Leavitt Equity Partners.
The capital will be used to fund significant continued product development investments, particularly in areas of advanced clinical and workflow applications designed to measurably improve clinical and financial outcomes. As hospitals and health systems adjust to recent cuts in Medicare and Medicaid rates, and the rise of new value-based care models, Health Catalyst’s solutions drive permanent improvements in the efficiency and effectiveness of care delivery and population health.
“We are thrilled both that our existing investors chose to continue their relationship with us, and that significant new investors are joining our effort to advance major innovations for US healthcare,” said Health Catalyst CEO Dan Burton. “We were honored to be significantly oversubscribed for this latest round of financing, and are grateful for the market validation of the effectiveness of Health Catalyst’s platform and solutions.”
Burton continued, “As more healthcare organizations are coming to understand, data warehousing and analytics are foundational to their success under new payment and risk models. This additional capital will enable Health Catalyst to develop the solutions necessary to offer every health system in the US a roadmap to systematically reduce waste and improve care delivery, across every major clinical and workflow area.”
About Health Catalyst
Health Catalyst is a mission-driven data warehousing, analytics and outcomes improvement company that helps healthcare organizations of all sizes perform the clinical, financial, and operational reporting and analysis needed for population health and accountable care. Our proven enterprise data warehouse (EDW) and analytics platform helps improve quality, add efficiency and lower costs in support of approximately 50 million patients for organizations ranging from the largest US health system to forward-thinking physician practices. For more information, visit www.healthcatalyst.com, and follow us on Twitter, LinkedIn and Facebook.