WindRose Health Investors, LLC, a leading healthcare-focused private equity firm, announced that its portfolio company, Healthmap Solutions, Inc. has raised $100m to support the ongoing expansion of its business.
Healthmap is a national population health management company focused on kidney disease. The company has grown rapidly and is currently contracted with its health plan customers to serve over 160,000 individuals.
The funding will provide the company with the resources to implement newly awarded business and the balance sheet strength to support the growing portion of HealthMap’s covered lives that are contracted under capitated arrangements. Today, Healthmap is contracted to manage over $3bn in healthcare spend through risk-based arrangements with a number of the country’s leading health plans and at-risk providers. WindRose financed the transaction, which included commitments from WindRose’s sixth fund as well as a new WindRose vehicle capitalized and led by StepStone Group and joined by other new and existing investors.
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“We are thrilled to build on our partnership with Healthmap as they expand their business and fulfil their mission of improving care and lowering costs for polychronic patients,” said Oliver T. Moses, WindRose Managing Partner.
Adam Johnston, Partner at StepStone said, “We are excited to support a high-quality asset in Healthmap that can make a material positive impact on patient outcomes. We believe WindRose is the ideal partner to continue generating value for all stakeholders involved.”
Eric Reimer, Healthmap’s Chief Executive Officer said, “We are grateful for the ongoing support of our investor group and excited to have ample resources to maintain our rapid growth. We believe that Healthmap has built a differentiated approach to managing chronic kidney disease. It is rewarding to see the market’s enthusiasm for our program and the positive impact we are having on patients’ lives.”
Evercore served as financial advisor on the transaction and Weil, Gotshal & Manges LLP served as legal advisor.
Source: PR News Wire
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