IPG said Monday that it has received $10 million in Series C funding. The lead investor was Camden Partners. Existing investor Sequoia Capital also participated in the round. Based in Alpharetta, Georgia, IPG is a provider of implant management and predictive analytical solutions.
ATLANTA–(BUSINESS WIRE)–IPG, the leading nationwide provider of Implantable Device Benefit Management™ (DBM) solutions, announced today it has closed a $10M Series C funding round led by new partner Camden Partners with participation from existing investor Sequoia Capital. This round of financing brings IPG’s private equity cumulative investments to $50 million. The funding will allow IPG to drive future growth and product development initiatives around its proven implant management platform and award winning software-as-a-service (SaaS) based solutions.
“Our focus at IPG has been to deliver solutions to our health plan partners that assist them in managing costs and improving quality of implantable surgical procedures,” said Jay Ethridge, President and CEO of IPG. “We had a tremendous amount of interest from the private equity industry, and Camden Partners is the ideal investment partner for IPG. This successful round of financing validates our business model and allows us to build out our product portfolio and capitalize on the significant growth opportunities that exist in the rapidly growing implantable device benefit management industry.
IPG was recently selected for a CIO 100 award for its software-as-a-service (SaaS) platform, IPG PathFinder 360™, the cost and quality spotlight for implantable procedures. The new product and expansion of the company’s DBM platform leverages IPG’s intelligence platform to improve the cost and practice transparency around implant surgical procedure spend. This allows their health plan customers to deploy sophisticated programs and solutions to improve their ability to manage risk and deliver actionable information to all stakeholders.
“We are excited to be partnering with IPG,” said Christopher W. Kersey, Camden Partners Managing Member. “As the market leader in Device Benefit Management, they are delivering truly innovative solutions that are having a significant impact on the total implantable device market.”
In January, IPG moved its corporate headquarters to a new location in Alpharetta, Georgia. The new 23,000 plus square foot corporate headquarters marks their sixth office expansion since 2004 and was a strategic move to support the rapid adoption of the company’s core DBM Model and product expansion initiatives.
As the Device Benefit Management (DBM) leader, IPG provides transparent end-to-end implant management and predictive analytical solutions, establishing the industry standard around cost, quality and safety to drive accessibility and affordability of care. The company has pioneered a unique DBM model which streamlines the management and delivery of implantable devices by working directly with health plans, clinical providers, facilities and medical device manufacturers. IPG delivers implant intelligence surrounding the overall cost and quality of healthcare being delivered, adding transparency and predictability of spend in tandem with the implementation of quality and safety metrics necessary to drive and reward best practices. Through collaborative partnerships that drive physician alignment, and employer and patient satisfaction, this approach ensures that patients receive increased access to affordable and innovative life-saving and life-enhancing device-intensive medical therapies. For more information about IPG, call us at 1-866-753-0046, or visit us on the web at www.ipg.com.
About Camden Partners
Camden Partners, founded in 1995, operates private equity funds that provide growth capital to emerging companies in the technology-enabled healthcare, business services and education sectors. For more information, please visit www.camdenpartners.com
About Sequoia Capital
Since 1972, Sequoia Capital has provided early stage and growth stage funding for very smart founders and executives who have turned great ideas into sustainable companies of enduring value. As the “Entrepreneurs Behind the Entrepreneurs”, Sequoia Capital’s Partners have worked with accomplished innovators and operators who built great franchises such as Amylin Pharmaceuticals, Ameritox, Apple Computer, Cisco Systems, CV Therapeutics, eCardio Diagnostics, Flextronics, Google, Network Appliance, nVidia, Onyx Pharmaceuticals, Oracle, Oxford Health Plans, PayPal, Ventritex (now part of St. Jude Medical), Yahoo!, YouTube, and Zappos. To learn more about Sequoia Capital visit www.sequoiacap.com.