ANN ARBOR, MI, Jul 16, 2013 - ArborMetrix, Inc., a leading provider of real-time healthcare analytics, today announced that it has closed a $7 million in Series B financing led by RPM Ventures (RPM) alongside existing investor Arboretum Ventures. The Wolverine Venture Fund also participated in the financing.The investment will accelerate ArborMetrix's national market expansion to meet surging demand for its proven real-time, risk-adjusted clinical performance analytics tools. ArborMetrix's analytics enable healthcare providers and payers to improve the quality, safety and cost-effectiveness of surgical and other specialty care.
“RPM Ventures is always on the lookout for technology companies in the Great Lakes region that have the potential to revolutionize an industry and Ann Arbor, Michigan-based ArborMetrix is perfectly positioned to do just that,” explained Tony Grover, managing director of RPM Ventures. “The company has proven breakthrough clinical performance analytics technology and unequaled speed-tovalue that perfectly positions it to help a wide variety of organizations adapt to the looming transformation of the nation’s healthcare delivery system.” Grover continued, “Their success is generating escalating national interest and we’re excited to join forces with Arboretum Ventures, a venture capital firm with deep healthcare industry experience, to help ArborMetrix achieve its full market potential.”
ArborMetrix’s Chairman of the Board Paul McCreadie, the managing director of Arboretum Ventures, shared his excitement about the positive impact ArborMetrix can offer as the healthcare sector transitions from rewarding the volume of care provided to the value of care received. “ArborMetrix’s analytics platform enables healthcare providers and payers to evaluate the effectiveness of evidence-based care, which will be essential for survival as the healthcare system evolves,” McCreadie said. “And, even during this transitional period, they can offer a return on investment in months ─ not years. RPM brings a great deal of expertise in software development and commercialization experience that will help accelerate our growth.” Grover will join the ArborMetrix Board of Directors and McCreadie will remain as Chairman of the Board. ArborMetrix CEO Brett Furst stated, “We’re fortunate to partner with these two outstanding companies to bring ArborMetrix additional support and resources far beyond their financial backing to help us reach the next level of success. We look forward to continuing to arm healthcare providers and payers with the most advanced analytics they need in today’s dynamic healthcare environment to help deliver the highest quality care at the lowest possible cost. ArborMetrix has been experiencing exponential growth and closing this round of funding will allow us to continue to build momentum by expanding our footprint and enhancing our industry-leading solution.”
About RPM Ventures
RPM Ventures (RPM) is a seed and early stage venture firm based in Ann Arbor, Mich. RPM invests across the Great Lakes Region generally in information technology (IT) and nationally in the company’s areas of expertise, including: automotive industry IT and connected car, solutions for industrial and retail enterprises, e-commerce, online marketplaces, and cloud and social media infrastructure . The combination of West Coast entrepreneurial experience and roots in the Great Lakes Region allows RPM to bring a unique perspective to investing, as is reflected in the company’s integration of Silicon Valley culture and relationships with a Midwest work ethic and core values. Learn more at: http://www.rpmvc.com/about-us/what-we-invest-in/#sthash.j5Pdi270.dpuf
About Arboretum Ventures
Arboretum Ventures (Arboretum) is a venture capital firm specializing in the healthcare sector. The company invests throughout the United States, but with a special interest in the Midwest. More than simply a financial resource, Arboretum is a collaborative, value-added investor actively engaging companies in strategy, operations, recruiting, fundraising, and exit planning. Founded in 2002 and headquartered in Ann Arbor, Mich., Arboretum currently manages approximately $235 million in capital. To learn more, visit http://www.arboretumvc.com/about.php.
ArborMetrix, Inc., based in Ann Arbor, Mich., is a healthcare analytics and software firm specializing in quality measurement, cost-efficiency and performance improvement for surgical and other acute hospital and specialtybased care. The company focuses on developing rigorous data analysis and actionable business intelligence solutions that raise the bar on quality, performance, utilization and cost-efficiency for hospitals, health systems, specialty societies, quality collaboratives and health plans. ArborMetrix’s unique, cloud-based technology evolved from groundbreaking research by the company founders on improving the quality of surgical care and econometric performance measurement. For more information, visit www.arbormetrix.com, email firstname.lastname@example.org or call 734-661-7944, ext. 7008.