“Building out the necessary technology and human capital based infrastructure to succeed in ACOs or other value-based reimbursement models is not cost-effective for the vast majority of the market,” said Brett Carlson, Senior Vice President at Great Point
JACKSONVILLE, FL and GREENWICH, CT (PRWEB) April 14, 2014
Orange Health Solutions (“Orange”), a Jacksonville, FL based technology enabled health care services company, today announced a significant investment from Great Point Partners (“GPP”), a health care focused private equity firm based in Greenwich, CT. The primary use of the proceeds was to finance Orange’s acquisition of MZI HealthCare (“MZI”). The purchase of MZI enhances Orange’s core product and service offerings, to more effectively meet the evolving needs of their customers as the US health care industry migrates to value-based reimbursement structures.
Orange was formed in December 2012 by a team of former UnitedHealth Group executives, Howard Buff and Nicole Bradberry, both with significant experience in the payer and consumer driven health care industries, and who will continue to lead the merged company as CEO and President, respectively. Orange offers solutions to health care providers that allow them to deliver higher quality coordinated care, improve population health management capabilities and increase efficiency while positively impacting their own financial success.
“The combination of Orange’s service solutions and the synergistic technology platforms of MZI pulls together a comprehensive solution that enables providers to manage medical cost and quality, while at the same time address the growing need for patient engagement and health care consumerism,” said CEO Howard Buff.
MZI is a California and Florida-based health benefit technology company that serves Independent Physician Associations (“IPAs”), Provider Managed Service Organizations (“MSOs”), Accountable Care Organizations (“ACOs”), Medicare Advantage Plans, health plans and health systems. MZI's flagship product is known as EZ-Cap along with an extensive suite of additional products provides its customers with a broad range of clinical, financial and administrative data on their patient populations.
The combined offerings of Orange and MZI enable providers to capitalize on the opportunities presented by provider risk-sharing models. Orange’s service offerings allow providers to outsource the non-clinical population health management services necessary to partake in value-based contracts. The product suite of MZI gives its clients benefit administration and claims adjudication capabilities allowing them to more effectively manage the health care spending of their patient populations. The business combination represents a unique value proposition by offering a single source vendor across payment and benefit administration, population health technology and service offerings.
“Building out the necessary technology and human capital based infrastructure to succeed in ACOs or other value-based reimbursement models is not cost-effective for the vast majority of the market,” said Brett Carlson, Senior Vice President at Great Point Partners, “Orange Health, in combination with MZI, provides an integrated one-stop solution that allows providers to solve their technology and service needs.”
About Orange Health Solutions
Orange Health Solutions (“Orange”) provides innovative solutions to its health care partners, allowing them to deliver higher quality coordinated care, improved population health management, increased efficiency and positively impact financial success. Orange delivers the products and services necessary for health care providers to meet the demands of a value-based health care system while retaining their independence. Visit the Orange Website at http://www.orangehealth.net . Orange can also be found on Facebook and Twitter.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $750 million of equity capital under management and 26 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million in commitments. Great Point manages capital in private (GPP I, $156 million, and GPP II) and public (BMVF, approximately $370 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments.
About MZI HealthCare
MZI HealthCare, LLC (“MZI”), with offices in Longwood, Florida and Valencia, California, is a provider of health care solutions designed to meet new clinical and performance requirements for accountable care and health care reform. MZI offers solutions for providers, hospitals, commercial health plans, third-party administrators, self-insured organizations, ACOs, Medicaid and state agencies, Medicare plans and sponsors, and health information exchanges. MZI products and services help health care organizations harness clinical, financial and administrative information, giving them a unique perspective to make smarter decisions about patient care and payment, resource allocation, provider and contract management and more. Visit the MZI website at http://www.mzihc.com.