Sandlot Solutions said Monday it raised $23.3 million in fresh capital. This includes $17 million in a preferred stock investment from Lemhi Ventures plus capital infusions from existing investors North Texas Specialty Physicians and Santa Rosa Holdings. Irving, Texas-based Sandlot provides clinical interoperability and community health management solutions.
DALLAS, TX and WAYZATA, MN–(Marketwired – Sep 8, 2014) – Sandlot Solutions, Inc., a leading electronic health record (EHR) interoperability, big data analytics and population health management platform provider today announced it now has $23.3 million in fresh capital to use to serve existing clients, complete near-term contracts and harvest a robust pipeline of potential new business. With the completion of a preferred stock investment of $17 million from Lemhi Ventures, and recent capital infusion from two existing investors, North Texas Specialty Physicians and Santa Rosa Holdings, Sandlot Solutions is prepared to accelerate the company’s already impressive growth and success.
“We are excited to be working with Sandlot Solutions. We have been actively looking for a technology solution that delivers clinical interoperability between providers while leveraging and enhancing the value of existing internal EHR investments that providers have already made,” said Tony Miller, Managing Partner, Lemhi Ventures. “Anyone who has studied the challenges that healthcare organizations face in moving to value-based payment models knows that we need to have a near real-time view of how patients are navigating the healthcare system. Sandlot offers a solution that allows providers to share and move clinical records to the point of care to improve the quality and cost of healthcare. Their recent client wins across a series of community-based care networks is evidence they are offering an exciting platform under which we can transform care delivery.”
As part of Sandlot’s growing momentum in the marketplace, the company recently completed the first phase of a successful implementation for a health network in the Midwest that includes 89 hospitals and over 6 million lives. “In recent years, even though the US healthcare industry has invested billions of dollars in electronic health records with the aim of improving the quality of patient care, our clients see that the key to impacting the cost-of-care is clinical collaboration,” said Richard Helppie, Chairman of Sandlot Solutions, Inc. “Better patient care and lower cost require clinical collaboration, and clinical collaboration requires interoperable EHRs. Sandlot Solutions provides a proven interoperable technology platform with a software-as-a-service business model that supports clinical collaboration, and provides a persistent data model making Sandlot the most powerful platform for achieving population health management.”
The Sandlot Solutions community health IT platform consists of Sandlot Connect, which supports comprehensive data gathering and exchange, Sandlot Dimensions, which combines a data warehouse with business intelligence tools, Sandlot Metrix, an analytics platform that provides real-time prompts and gap-in-care alerts to the physician’s workflow and Sandlot Care Assist, a robust care coordination and population health management engine.
“Data is increasingly recognized as the integral component within new care models, and is critical for driving higher quality and improved outcomes,” said Joseph Casper, Chief Executive Officer, Sandlot Solutions. “Specifically, data can help provide early warnings to avert or mitigate the effect of certain medical crises, and provide real-time awareness that accelerates disease surveillance, and identify gaps in care. With Sandlot’s platform, healthcare providers can eliminate gaps in knowledge and time lags to improve real-time feedback and create more effective outcomes. Our clients recognize the value our proprietary technology brings both to new and historical infrastructure investments; it delivers enhanced clinician adoption, improved care and lower costs.”
“Clients who have adopted Sandlot’s technology are seeing an immediate payoff,” said Tom Watford, President and Chief Operating Officer, Santa Rosa Holdings. “The Sandlot platform enables demonstrable improvements in quality measures, and the cross-community connections are revealing information about the places, methods, and types of care being delivered. This is opening the door for providers to build a more efficient and affordable healthcare system. Additionally, Sandlot’s software-as-a-service architecture means that the technology is both more cost-effective and functional. Many healthcare organizations want IT solutions that can come online quickly, so the fact that our solutions can be installed in a fraction of the time required of other technologies also is highly valued.”
About Sandlot Solutions
Sandlot Solutions, founded in 2006, is a leading provider of clinical interoperability and community health management solutions focused on: the exchange of clinical and claims data across the care community, population data analytics and enhanced care coordination. Sandlot provides the tools and technology that enable healthcare organizations to improve the quality of care, understand and manage risk, reduce costs, and transition to new business models. The software-as-a-service, cloud model with configurable technology streamlines data sharing and provides physicians with actionable patient information and analytics. Sandlot understands how to work within physicians’ existing workflows using a proprietary; patent-pending digital envelope that includes prompts to proactively address gaps in care right at the point of care. For more information, visit www.sandlotsolutions.com.
About Lemhi Ventures
Lemhi Ventures is a health care services venture capital firm headquartered in Wayzata, Minnesota. With over $330M in assets under management, Lemhi leverages a point of view investing approach and the operating background of its team to invest in and build innovative and disruptive companies.