HealthDataInsights Secures $9.6 Million Financing

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HealthDataInsights, Inc. has been formed from the combination of HealthMarketInsights of Las Vegas, Nevada and Integrated Healthcare Solutions of Newport Beach, California. Redhills Ventures LLC led a $9.6 million round of financing to launch the newly merged company

HealthDataInsights, Inc. has been formed from the combination of HealthMarketInsights of Las Vegas, Nevada and Integrated Healthcare Solutions of Newport Beach, California. HealthDataInsights provides claims-based products and services that allow insurers, health plans, TPAs, employers and suppliers to improve control over the cost and quality of healthcare. Redhills Ventures LLC led a $9.6 million round of financing to launch the newly merged company. JPMorgan Chase & Co. also participated in the financing.

HealthDataInsights offers products and services to help payors and providers leverage claims data to address cost and quality issues. HDI’s Claims Integrity Division analyzes claims for clients that cumulatively pay claims in excess of $50 billion annually, identifying overpayments and other opportunities for cost savings. HDI’s Analytics Division utilizes public and private claims databases to provide software and Internet applications to help payors, providers, suppliers and large employers make better decisions surrounding the cost and quality of healthcare.

HealthDataInsights' customers include Blue Cross Blue Shield organizations, regional and national health plans, TPAs, self-insured corporations, major hospitals and industry suppliers.

The HealthDataInsights team is led by Victor Chaltiel and Andrea Benko. Together, they bring more than 50 years of combined healthcare expertise, and a proven track record of building successful public and private healthcare companies. Previously, Chaltiel served as Chairman and CEO of publicly listed Total Renal Care, now Davita (NYSE: DVA).

Victor Chaltiel, CEO of HDI, stated: “We are dedicated to providing ‘total transparency’ to the industry: software tools and analytics that provide a single source of qualitative and quantitative analysis of the individual and total spend for the healthcare claims of our customers. Merging the services and experience of HealthMarketInsights and Integrated Healthcare Solutions will ensure continued growth and marketplace expansion.”

“This is a tremendous step forward,” said Chris Massey, co-founder of Integrated Health Solutions and HDI’s Senior Vice President of Finance. “The synergy of the companies will expand our product offering and enhance our strategic vision. We are at the leading edge of healthcare cost containment and quality control.”

HDI is based in Las Vegas, Nevada, with offices in Newport Beach and San Francisco, California and Orlando, Florida. For more information on HealthDataInsights’ solutions, please visit the HDI Website at http://www.healthdatainsights.com, or contact Andrea Benko, President at (702) 243-8730.

About Redhills Ventures: http://www.redhillsventures.com
Redhills Ventures is a Las Vegas-based private venture capital partnership investing exclusively in the health care industry. http://www.redhillsventures.com

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Jeanette Youngerman or John Randoph
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