NEW
YORK, Aug. 10, 2023 /PRNewswire/ -- WindRose
Health Investors, LLC ("WindRose"), a leading healthcare-focused
private equity firm, announced that its portfolio company,
Healthmap Solutions, Inc. ("Healthmap"), has raised $100 million 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 $3 billion
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 ("StepStone") and joined by other new
and existing investors.
"We are thrilled to build on our partnership with Healthmap as
they expand their business and fulfill 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.
About Healthmap Solutions
Healthmap Solutions is an NCQA-accredited kidney population
health management company serving health plans, health systems,
accountable care organizations, and provider groups seeking a
value-based solution to improve the lives of Americans living with
chronic kidney disease. Using its advanced predictive analytics
technology and clinical expertise, Healthmap provides early kidney
disease identification and recommends clinically proven
interventions to delay or slow disease progression. Healthmap Care
Navigation teams work with patients and the full spectrum of a
health plan's providers to maintain access, minimize disruption and
deliver personalized whole-person care from trusted providers.
Healthmap's approach is to proactively plan care transitions and
optimize renal replacement therapy, with a focus on in-home
dialysis treatment and transplant. This approach improves care,
outcomes, and patient experience while lowering total medical costs
for health plans and provider groups.
About WindRose Health Investors
WindRose makes equity investments in companies that operate
within the services sectors of the healthcare industry. The firm
focuses on companies with a demonstrated ability to deliver
cost-effective solutions. WindRose manages approximately
$3 billion in investments. WindRose
is based in New York, NY and
invests in companies primarily based in North America. For more information, please
email us at info@windrose.com.
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets
investment firm focused on providing customized investment
solutions and advisory, data and administrative services to its
clients. As of June 30, 2023,
StepStone was responsible for approximately $640 billion of total capital, including
$143 billion of assets under
management. StepStone's clients include some of the world's largest
public and private defined benefit and defined contribution pension
funds, sovereign wealth funds and insurance companies, as well as
prominent endowments, foundations, family offices and private
wealth clients, which include high-net-worth and mass affluent
individuals. StepStone partners with its clients to develop and
build private markets portfolios designed to meet their specific
objectives across the private equity, infrastructure, private debt
and real estate asset classes.
Contact
Caroline Luz
Lambert
cluz@lambert.com
203-570-6462
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SOURCE WindRose Health Investors