Sharecare said Thursday that it has received an undisclosed investment from Nashville-based investment firm Heritage Group, bringing the company’s total funding to $91 million. Also, Rock Morphis, managing director of Heritage Group, joins Sharecare’s board of directors. Based in Atlanta, Sharcare is a health and wellness engagement platform.
ATLANTA, GA and NASHVILLE, TN–(Marketwired – September 26, 2013) – Sharecare, the leading online health and wellness engagement platform founded by Jeff Arnold and Dr. Mehmet Oz, today announced it has secured a strategic investment from Heritage Group, a Nashville-based healthcare investment firm. The round brings Sharecare’s total funding to $91 million.
Sharecare is a social engagement platform for consumers that integrates clinically-proven assessments, content and tools to deliver personalized health management to millions of consumers each month. The new financing from Heritage will enable Sharecare to accelerate its efforts to help health systems, payers and employers engage with their patient populations to improve their health and wellness.
“Our country’s health care system is on the precipice of a major transformation from one that merely treats the sick to one that fosters comprehensive health and wellness,” said Jeff Arnold, chairman and CEO of Sharecare. “By collaborating with trusted health care delivery networks, Sharecare is uniquely positioned to help people live their healthiest lives, and bring measurable quality and efficiency to population health management.”
As part of the investment, Rock Morphis, managing director of Heritage Group, has joined Sharecare’s board of directors.
“Sharecare is helping bridge the gap between the US health care system’s fee-for-service structure, and the rapidly evolving focus on accountable care and population health management,” Morphis said. “We are impressed by Sharecare’s unique approach, track record and proven ability to meaningfully engage the consumer, and see great growth potential for the company.”
This investment adds to a growing group of companies backed by the Heritage Healthcare Innovation Fund, which was created by a diverse group of the nation’s leading healthcare services firms including Amedisys, Inc., Cardinal Health, CHE Trinity Health, Community Health Systems, Health Care Service Corporation, Intermountain Healthcare, LifePoint Hospitals, Memorial Hermann Healthcare System, UnityPoint Health, and Vanguard Health Systems.
“We believe Sharecare can provide a unique and valuable solution for healthcare providers,” said Scott Nordlund, EVP Growth, Strategy & Innovation for CHE Trinity Health, an investor in the Heritage Fund. “Not only can their fully integrated, unified platform help providers acquire new patients, but it can also make healthcare more accessible to consumers any time, anywhere.”
Heritage joins Sharecare’s impressive roster of strategic investors including Claritas Capital, Discovery Communications, Galen Partners, Harbert Management Corporation, Harpo Productions, Hearst Corporation, New Evolution Ventures, Sony Pictures Television, and TomorrowVentures, LLC.
Sharecare is the leading online health and wellness engagement platform providing millions of health-conscious consumers with a personal, results-oriented experience by connecting them to the most qualified health resources and programs they need to improve their health. Sharecare’s one-of-a-kind experience includes the popular, scientifically-based health risk assessment the RealAge® Test taken by more than 30 million people since its inception in 1998, and a unique, social Q&A format that provides the collective wisdom of thousands of health and wellness experts to greatly simplify the search for quality information. Created by Jeff Arnold and Dr. Mehmet Oz in partnership with Harpo Productions, Sony Pictures Television and Discovery Communications, Sharecare allows people to ask, learn and act upon questions of health and wellness, creating an active community where knowledge is shared and put into practice — simply said, sharing care. Launched in 2010, Sharecare is based in Atlanta.
About Heritage Group
Heritage Group is a Nashville-based, venture capital firm with over 25 years of experience financing and operating healthcare companies at all stages. Created by a diverse group of the nation’s leading healthcare services firms, the Heritage Healthcare Innovation Fund is a $167M strategic initiative focused on investments in businesses that improve the delivery of healthcare services. For more information on Heritage Group, visit www.heritagegroupusa.com.