Enhanced Healthcare Partners has made a strategic investment in Hallmark Health Care Solutions, a Software as a Service business offering physician compensation and workforce management solutions for the healthcare industry. Terms of the transaction were not disclosed.
NEW YORK, NY (December 10, 2020) — Enhanced Healthcare Partners (“EHP”), a leading healthcare-focused private equity firm, is pleased to announce a strategic investment in Hallmark Health Care Solutions, Inc. (“Hallmark”), a software as a service company offering physician compensation and workforce management solutions for health systems, academic medical centers and physician groups.
Based in New York, Hallmark offers integrated technology solutions designed to drive better workforce relationships, efficiencies and cost savings. Its current client base includes many of the largest health delivery networks and medical groups in the nation, serving over thousands of providers and hundreds of healthcare facilities across the United States.
The company’s portfolio of solutions includes the Heisenberg II™ and Einstein II™ AI-powered software platforms. Heisenberg II™ is cloud-based technology that eliminates the uncertainty in two of today’s most essential healthcare business processes. Automating the provider compensation administration process and bridging the gap between contracts and compensation through a more strategic technological approach, the solutions deliver improved compliance, better accuracy and increased effectiveness. The Einstein II™ solution helps improve utilization of internal, float pool and agency nurses and equips senior decision makers with AI-powered deployment, scheduling and communication tools, substantially reducing labor-related costs.
EHP’s investment will help advance Hallmark’s research, development and strategic objectives, cementing Hallmark’s position as a leader in the healthcare sector. With EHP’s support, Hallmark will be able to increase its reach and help solve labor-related challenges for a broader portfolio of health systems.
“It was clear early on that EHP’s expertise in growing healthcare companies would align well with our company vision, product development and expansion efforts,” said Hallmark Co-founder and CEO Isaac Ullatil. “We are thrilled with the partnership and believe together, we will continue to build raving fans of our solutions.”
“COVID-19 has put immense clinical and logistical pressure on health systems in effectively identify, sourcing, deploying and delivering scarce resources across healthcare systems,” said Matthew Thompson, General Partner at EHP. “Hallmark solves these fundamental complexities leveraging state-of-the-art software to aid hospitals and provider groups that ultimately provide the front-line care that benefits the entire U.S. healthcare system.”
Terms of the transaction were not disclosed. Choate Hall & Stewart LLP served as legal advisor to EHP.