Medisolv receives a strategic investment from BVP Forge
Medisolv is a national leader in healthcare quality data management solutions for hospitals, ambulatory care providers, accountable care organizations and more. Its all-in-one quality management platform, ENCOR, helps healthcare organizations advance patient care by measuring and improving their performance on more than 500 national quality and safety measures, including those required by the Centers for Medicare and Medicaid, The Joint Commission, private payers and state agencies. Medisolv now serves more than 1,650 hospitals and 8,000 providers nationwide and has been honored with the Black Book award and the Best in KLAS award for healthcare client satisfaction as well as the HIMSS Policy Changemaker award for their pioneering work in digital quality measurement. For more information, please visit www.medisolv.com.
Medisolv announced that BVP Forge has completed a strategic investment in the company to accelerate its growth. Medisolv was founded in 1999 with the simple idea that software can unlock the intelligence buried in the chaos of healthcare data, empowering end users to improve quality of care and their bottom line. As one of the leading providers of healthcare quality measurement and reporting solutions in the country, Medisolv has achieved 500 percent growth in just five years, partnering with more than 1,650 hospitals and 8,000 providers nationwide. Medisolv’s platform enables providers and health systems to aggregate data across a wide variety of clinical and financial data sources to calculate, validate and submit care quality measurements to payers and regulators.
Zahid Butt; MD, FACG, Founder and Chief Executive Officer of Medisolv; commented, “Medisolv’s vision from the beginning was to create a data-driven, patient-centric performance improvement system to drive high-quality patient care. In the nearly 25 years since our founding, we have grown by offering unwavering dedication to clients who rely on our innovative software solutions and services. We were attracted to BVP Forge given their one-of-a-kind model that combines on-the-ground operational scaling support with the growth resources of Bessemer Venture Partners. We are excited about our growth prospects and look forward to continuing to deliver the high-quality software our clients expect while advancing our innovation efforts to help them achieve excellence in a value-based care delivery world.”
Dr. Butt remains a significant shareholder and will continue to serve as Chief Executive Officer of the company. Medisolv will benefit from ForgeEdge™, BVP Forge’s business-building program, as it scales its customer acquisition efforts, invests more behind customer success and increases product investments to expand its footprint within the healthcare provider and payer end-markets. BVP Forge will also provide Medisolv access to the growth intellectual property (IP), talent network and resources of Bessemer, which has decades of experience scaling healthcare and technology companies into market leaders.
“We are highly impressed with Medisolv’s mission-centric culture and demonstrated track record of consistent, profitable growth,” said Brian Cramer, Operating Partner at BVP Forge. “We see a clear and compelling opportunity to advance the company’s mission and unlock growth opportunities within existing and new market segments.”
Navid Oreizy, Partner at BVP Forge, added, “Medisolv’s solutions sit at the heart of the transition towards value-based care delivery and payment models. The company has built an enviable customer base, enabling a significant portion of the healthcare provider market in the U.S. to identify quality improvement opportunities and meet growing regulatory and payer care quality requirements. We are looking forward to working closely with the Medisolv team in the coming years to amplify their impact.”
As the healthcare landscape continues to shift towards value-based care delivery models, we see enormous potential for companies providing innovative technology solutions supporting this trend. Medisolv’s leading quality data management platform leverages powerful software to effectively monitor and manage quality performance with analytics in order to inform operational decisions and also satisfy regulatory compliance requirements. Medisolv’s unique offering and stellar reputation in the industry will continue to strengthen the company’s position as a market leader.
Mike Siano, Managing Director in Lincoln’s Healthcare Group, commented, “We enjoyed working with the Medisolv and BVP Forge teams on this successful transaction. BVP Forge will bring deep Healthcare IT experience and resources to the Medisolv team to help further advance Medisolv’s industry-leading position. We look forward to Medisolv’s continued growth and success.”
BVP Forge is the unique combination of a private equity firm for growth-oriented, self-sustaining and software-enabled businesses paired with Bessemer’s global venture capital platform. BVP Forge combines Bessemer’s’ front-line industry insights, proven growth IP and robust executive network with tailored resources for self-sustaining companies and the ForgeEdge™ operational program. Mission-driven teams gain an ally who values their expertise, respects their legacy and supports them to build a winning culture and business that withstands the test of time. BVP Forge invests from a $780 million fund in partnership with the $20 billion Bessemer platform that has backed industry-defining businesses such as LinkedIn, MindBody, PagerDuty, Procore, ServiceTitan, Shopify, Toast and Twilio. For more information, please visit www.bvp.com/forge.
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