MacroHealth Secures Growth Equity Investment from TT Capital Partners and NewSpring
June 9, 2020
Leading healthcare investors partner with MacroHealth to improve healthcare affordability and enhance network optimization capabilities
Kirkland, WA – June 9, 2020 – MacroHealth, (the “company”), a health information technology company that provides healthcare network optimization and claims settlement services to insurance companies, provider sponsored health plans, third-party administrators (TPAs) and other payers, announced today it has completed a strategic investment from TT Capital Partners (“TTCP”) and NewSpring Health Capital, NewSpring’s dedicated healthcare strategy. The proceeds of the growth equity investment, the Company’s first external funding, will be used to accelerate development of MacroHealth’s technology platform and expand the reach of its solutions by hiring a substantial number of additional engineers, sales, and marketing representatives in 2020.
Data and common experience confirm that American health service prices vary greatly. Two different health insurance payers often pay significantly different net amounts for the identical procedure and diagnosis at the same care provider. MacroHealth solves for this by providing an enterprise SaaS marketplace platform where healthcare is purchased more efficiently and at lower costs. The company also allows its clients to leverage multiple data sources, including proprietary, U.S. government, and third-party network data, to analyze prior claims and ultimately make smarter plan and network decisions.
“At MacroHealth, our mission is to provide data analytics and technology that enable payers and providers to optimize the buying and selling of health services. By connecting payers with the most cost-effective healthcare providers and enabling a higher level of claims analysis, our clients see significantly lower healthcare costs compared to their competitors,” said MacroHealth Co-Founder and CEO, Virgil Bretz. “We’re thrilled with our new strategic partners, TTCP and NewSpring, whose deep sector and operational expertise will help us take MacroHealth to the next level.”
“MacroHealth addresses the long-standing affordability challenge of healthcare head-on. By helping its health plan customers, large and small, identify lower cost providers and optimize their networks, MacroHealth is creating a more affordable and predictable healthcare system for payers, providers, and consumers,” said Dawn Owens, President of TripleTree Holdings. “TTCP is excited to collaborate with this seasoned leadership team as they develop enhanced capabilities and move to the next stage of growth.”
“The MacroHealth team is using technology to rewire the way healthcare is purchased for the better,” said NewSpring General Partner and MacroHealth Board Member, Brian Murphy. “The ongoing COVID-19 pandemic has only highlighted and amplified the continuing need for innovation and technology in the healthcare space and the value proposition of creating a more cost-efficient healthcare purchasing process will be even more critical in this changed market.”
MacroHealth’s purpose is to create Intelligent Health Markets™. The MacroHealth platform combines data analytics and system connectivity to reduce health prices and operating costs. The company focuses on building relationships, knowledge, and technology that enable payers and providers to optimize the buying and selling of health services and ultimately reduce healthcare costs.
TT Capital Partners (TTCP) is a healthcare investor, collaborating with healthcare technology and services companies that have the potential to become market leaders. Leveraging the insights garnered from a unique knowledge-based platform, TTCP has invested in some of the most innovative, high-growth healthcare businesses. TTCP is part of the TripleTree healthcare merchant bank. For more information, visit www.TTCapitalPartners.com.
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 150 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.