JMI Equity has made an undisclosed investment in Healthx Inc, a cloud-based digital engagement solutions provider for healthcare payers and other stakeholders. TripleTree served as financial advisor to Healthx on the transaction.
INDIANAPOLIS – January 5, 2017 – Healthx, Inc., the leader in cloud-based digital engagement solutions for healthcare payers and other stakeholders, today announced that it has received a strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies.
Founded in 1998, Healthx connects healthcare payers with members and providers through digital portals, helping stakeholders navigate the healthcare journey and facilitating true collaborative care. The Healthx platform provides self-service member and provider tools that reduce administrative costs for payers, as well as solutions that better enable payers to manage changing regulatory requirements. In addition, Healthx’s engagement solutions help members manage and improve their health through tools such as wellness management and telemedicine.
“Healthcare payers are demanding more sophisticated solutions, particularly around member engagement, as a proven model to reduce costs and improve member health,” said Sean Downs, CEO for Healthx. “The growth investment from JMI comes at a time of sustained growth for Healthx, not just in terms of market share, but particularly around product development to deliver the sophistication and engagement tools needed to improve healthcare. The partnership with JMI is exciting as it will further accelerate these efforts, and supports our vision for better healthcare through technology innovation.”
“Healthx is a true pioneer in cloud-based solutions for healthcare and we have been impressed with the company’s recent growth,” said Matt Emery, a general partner at JMI Equity. “We are excited about this partnership and the opportunity to help drive the next phase of growth.” Emery added, “The feedback we received from Healthx’s customers is a real testament to the company’s strengths in product innovation and customer success. The customers we spoke with were very confident about Healthx’s ability to continue helping them meet their strategic needs well into the future.”
As Healthx continues to expand its market share, Downs cited the need for provider and member engagement upgrades among many health plans, especially larger plans. “We have found that many health plans have either built their own solution or used version 1.0 solutions from claim system vendors,” said Downs. “Many plans are now recognizing the need for more sophisticated tools to drive deeper member and provider engagement. Healthx helps these plans achieve this goal.”
TripleTree acted as the exclusive financial advisor to Healthx for this transaction.
About Healthx, Inc.
Healthx provides the healthcare industry’s leading digital engagement platform connecting our payer customers to their consumer, provider, employer and broker constituents. As an innovator in cloud-based technology, Healthx supports over 180 payers representing 24 million members and 700,000 providers. Our engagement expertise enables us to guide customers to achieve their business objectives by driving online portal and mobile app utilization and producing measurable ROI. The platform can integrate with over 150 third party applications, customized into a seamless user experience across the consumer engagement ecosystem including shop and enroll, managing benefits, cost transparency, payment processing, wellness, health education and other specialty content. Healthx is a proven and trusted partner, led by healthcare and technology experts passionate about delivering engagement solutions that drive outcomes. For more information, visit www.healthx.com. Follow Healthx on Twitter, LinkedIn and Facebook.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 120 businesses in its target markets, successfully completed over 85 exits, and raised more than $3.0 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.