Healthtech startup MacroHealth has secured $54M CAD in a Series A funding round held in November 2020, from NewSpring Capital, Providence Ventures and Triple Tree Capital Partners.
Capital raised will be used by the startup to develop its platform and increase the headcount of its marketing, customer success and operations team in the Vancouver office.
Established in 2017 with the merger of Plotkin Health and VIDA Health and is legally incorporated in Canada, MacroHealth provides an analytics and connectivity platform concentrating on improving healthcare pricing and payments. The startup gives health payers and insurers data enhancement and analytical tools along with market benchmarking to design provider network solutions that are optimized for each exclusive member group. With a single EDI/API implementation, it connects its customers with their chosen providers, provider networks and industry partners. Apart from Vancouver, it has an office located in Seattle as well.
Several data and common experiences confirm that American health service prices differ significantly. Two different payers for the same procedure and diagnosis at a given provider might pay extremely different net prices. MacroHealth solves this problem by providing an enterprise SaaS marketplace platform where healthcare can be procured more effectively and at lower costs. It connects payers with the most economical healthcare providers they may not have known about otherwise. The startup also enables its clients to utilize multiple data sources, including patented, U.S. government, and third-party network data, to study prior claims and eventually make intelligent plans and network decisions.
MacroHealth envisions to create intelligent health markets in society.
About NewSpring Capital
Pennsylvania-based NewSpring Capital partners with the trendsetters, makers, and managers of highly efficient companies in dynamic industries to encourage new growth and grab captivating opportunities. Founded in 1999 by Marc Lederman, the firm manages over $2 billion across four distinct strategies spanning across growth equity and control acquisitions to mezzanine debt. NewSpring brings along with it a treasure of knowledge, experience, and resources to take budding companies to the next level and beyond and has invested in over 150 companies to date. Partnering with management teams to help develop their businesses into market leaders, it discovers opportunities and builds relationships using its network of industry leaders and influencers across an extensive range of operational areas and industries.
NewSpring also invested an undisclosed amount in MacroHealth in a private equity funding round held in June 2020.
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