As published in PRWEB, January 3rd, 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.