– The new fund will focus on investing between $10 to $30M in
commercial-stage digital health companies and technology-enabled service
businesses that are improving the healthcare system.
– Led by Todd Cozzens, Dr. Jared Kesselheim and Mike Dixon, Transformation
Capital manages over $800 million across the investment funds it advises and
was founded on the premise that healthcare requires a highly
focused investment approach combining deep industry expertise and vast
– Transformation Capital sees enormous opportunity to attack
waste and drive efficiencies, leverage patient-specific information to deliver
data-driven, tailored care with better outcomes, and give the consumer what they
need to select and pay for healthcare more proactively.
– Transformation Capital portfolio companies include Kyruus, H1,
Olive, Datavant, RapidSOS, PlushCare, Panalgo, LetsGetChecked, Protenus,
PatientPop, PatientPing, Health Catalyst, etc.
– Kyruus is acquiring HealthSparq from Cambia Health
Solutions, a family of more than 20 companies working to make healthcare more
economically sustainable and efficient for people and their families.
– HealthSparq is a healthcare guidance and transparency
technology company serving the health plan market.
– With the acquisition, the combined entity now serves
more than 60 health systems and 100 health plan brands nationwide.
Kyruus, the leader in
provider search and scheduling solutions for health systems, today announced it
is acquiring HealthSparq from Cambia Health Solutions, a family of
more than 20 companies working to make healthcare more economically sustainable
and efficient for people and their families. HealthSparq is a trailblazing
healthcare guidance and transparency technology company serving health plans.
As part of Cambia, HealthSparq has grown to serve more than
80 million health plan members nationwide through its digital solutions. Cambia
will have an ownership stake and a seat on the Kyruus Board of Directors. HealthSparq
will become part of Kyruus, accelerating a groundbreaking platform to connect
payer and provider organizations and enabling people to find and schedule with
the right providers seamlessly across access channels.
Acquisition Will Transform Care Navigation Through Novel
Healthcare remains incredibly siloed, making it difficult
for people to find and schedule care that meets their unique clinical,
financial, and personal needs. Kyruus’ acquisition of HealthSparq expands the
company’s mission to make healthcare work better for everyone by connecting
people to the care they need, whether they search on a health system website or
health plan website. This will also accelerate payer-provider collaboration to
further streamline patient access and boost provider data accuracy.
Post-Acquisition Plans & Impact
Together, Kyruus and HealthSparq serve more than 60 health
systems and 100 health plan brands nationwide. The companies have already
started working together in select markets to enhance health plan directories
with provider-verified data and enable online scheduling from health plan websites.
Combining operations will accelerate the integration of their platforms,
enabling health plans to link personalized insurance benefit and cost
information with rich provider data, while allowing health systems to tap into
health plan websites as a new patient engagement source. Over time, the unified
platform will facilitate increasingly sophisticated patient routing and
matching across channels – all while giving people the convenience of online
scheduling wherever they look for care.
The HealthSparq team will transition to Kyruus and continue
to execute on HealthSparq’s full breadth of solutions for health plans. Mark
Menton, CEO of HealthSparq, will join the Kyruus executive team and serve as
General Manager of the health plan business unit.