iVantage Health Analytics Raises $10M in Equity to Further Accelerate Growth
SC&H Capital served as the advisor to iVantage Health Analytics
iVantage Health Analytics (iVantage), a leading provider of health care informatics and business analytics solutions that transform complex data into actionable business intelligence, announced it has raised $10 million in growth equity from Great Point Partners (GPP). The equity investment will fund expanded sales and marketing efforts, additional investment in technology infrastructure and personnel expansion
SC&H Capital, an investment banking and advisory firm focused on middle market and growth companies, served as the sole placement agent to iVantage Health Analytics in connection with the transaction.
iVantage was formed in August 2011 through the merger of four existing and established health care informatics companies and is a leading provider of health care business analytics solutions to hospitals. The Company is led by a highly credentialed management team including Hud Connery, Jr., former COO of HealthTrust and CEO/Founder of Essent Healthcare, John Morrow, former SVP at Healthgrades and HCIA/Solucient/Thomson Reuters Healthcare, Thomas Hutchinson, former SVP at HealthStream Research, and Thomas Day, former Head of Health Care at Bain Consulting and former CFO of the Advisory Board Company.
iVantage’s solutions help transform complex clinical and financial data into actionable business intelligence, and this platform is used by hospital management teams to drive empirical and evidence based decision making. The differentiated solution is able to displace incumbent siloed data solutions by providing hospitals with an integrated product suite across clinical, functional, and market analytics. These tools are positioned at the center of a large market opportunity due to increased demand for meaningful data driven by new compliance based requirements and operational challenges of the Patient Protection and Affordable Care Act.
Hud Connery, President of iVantage Health Analytics, said, “we wanted an advisor that understood our goals and would help us find the best partner based on their understanding of the health care informatics and business analytics marketplace. SC&H Capital was a trusted advisor that provided valuable advice throughout each stage of the process, leveraging their industry insight and expertise to find an investor that will help us deliver innovative solutions and execute on our long-term growth strategy. We found an excellent partner in GPP – now it is time to help reshape the new healthcare.”
“We’ve been in constant dialogue with hospital executives since the passing of health care reform”, said Brett Carlson, Senior Vice President at Great Point Partners. “The widespread consensus is that clinical, functional, and market analytics are necessary and will provide users significant competitive advantages in navigating the complexities of the new environment.”
Jeffrey Jay M.D. Managing Director added, “iVantage will utilize the funding to execute its long-term growth strategy and deliver innovative solutions as the Company expands into new markets and develops and/or executes new products.”
iVantage Health Analytics was advised by SC&H Capital (Baltimore, MD) and the legal team of Pepper Hamilton LLP (Philadelphia, PA).
iVantage is a leading provider of health care informatics and business analytics solutions that transform complex data into actionable business intelligence. This platform is used by hospital management teams to drive empirical and evidence based decision making. These tools are positioned at the center of a large market opportunity due to increased demand for meaningful data driven by new compliance based requirements and operational challenges of the Patient Protection and Affordable Care Act. iVantage has been growing at approximately 50% per year. Visit www.ivantagehealth.com for additional information or call 207-518-6700.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $600 million of equity capital under management. GPP is currently investing from GPP II, which is targeted at $200 million. Great Point manages capital in private and public equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300 or visit www.gppfunds.com.
About SC&H Capital
SC&H Capital, an affiliate of SC&H Group, LLC, is an investment banking and advisory firm focused on middle market and growth companies. SC&H Capital supports their investment banking activity with a full suite of strategic and financial resources to assist companies in the development and execution of strategic plans and initiatives. In conjunction with SC&H Group, LLC, SC&H Capital tailors their advisory services to ensure that their clients receive pertinent and valuable advice in every stage of the business life cycle – not just at the time of sale. Securities offered through Stout Causey Capital Corporation, member FINRA/SIPC.
About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world. Reach Pepper Hamilton at 215-981-4000 or visit www.pepperlaw.com.