Pleasant Bay Capital and Massachusetts Capital Resource Company have led a minority investment in MedTouch. Financial terms weren’t announced. Cambridge, Massachusetts-based MedTouch provides integrated digital strategy and technology solutions for hospitals and health plans.
CAMBRIDGE, MA (PRWEB) AUGUST 03, 2015
MedTouch announced today it has secured a minority investment led by Pleasant Bay Capital Partners and Massachusetts Capital Resource Company (MCRC). The investment augments the organization’s growth as the leading provider of integrated digital strategy and technology solutions for hospitals and health plans.
This investment is realized as MedTouch celebrates over 10 years of expertise as a healthcare strategy and technology leader. MedTouch focuses on integrated digital strategy, engaging patients and members across multiple platforms, such as web, mobile and social.
The organization’s consistent, outstanding growth has been driven by increasing healthcare competition and the rising interest and impact of digital healthcare. MedTouch has led the market and, in 2013 and 2014, was named to Inc. 500 | 5000, a national list of the fastest-growing private companies. It has also been named a Boston Business Journal fastest-growing company in 2013, 2014 and 2015. In the last three years, MedTouch has grown its revenue by 189% across its five offices in Cambridge, Louisville, Cedar Rapids, Houston and Seattle. Building on this momentum, MedTouch will use this financing to continue investment in new talent for its growing team and to accelerate product development and service line growth for clients and their future projects.
“The result I’m most excited to see with this change is the ability to expand our impact and solidify a roadmap for long-term success,” says Paul Griffiths, CEO + Founding Partner of MedTouch. “Our team is made up of experts who are passionate and constantly generating ideas to improve the client experience and our process. In the years to come, we’ll be able to better serve our clients with creative, effective and innovative solutions.”
“We believe MedTouch has been ahead of the curve for over 10 years blending strategy and technology. We’re committed to supporting MedTouch as it continues to meet the increasing demand for digital and adapt to new changes as an industry leader,” says James Vandervelden, Managing Partner of Pleasant Bay Capital Partners.
With this investment, James Vandervelden and Eric Beyer, the former CEO of Tufts Medical Center and Principal of APEX Healthcare Group, have joined the MedTouch Board of Directors. MedTouch will benefit from Beyer’s 30+ years of healthcare experience by leveraging his market knowledge to assist MedTouch in developing products and services relevant to the challenges that healthcare providers will face in their rapidly changing marketplace.
MedTouch is proud to be the online strategy and technology partner for the best brands in healthcare. Clients select us because our depth of experience brings vision to complex projects. With a national client base of hospitals, health plans and integrated delivery networks, MedTouch builds integrated digital strategy and technology solutions to acquire patients and members, provide successful user experiences, build healthcare-specific online strategies and leverage dynamic, real-time and responsive personalization on a world-class web-based platform. MedTouch has five locations across the U.S. and was named to the Inc. 500 | 5000 in 2013 and 2014, an annual list of the fastest-growing private companies.
About Pleasant Bay Capital Partners
Pleasant Bay Capital Partners (“Pleasant Bay”), is a private equity firm focused on acquisitions, recapitalizations, and minority investments in lower-middle market companies. Our opportunistic approach provides them the flexibility to invest in a broad range of opportunities and utilize innovative equity and debt structures to fit the specific needs of company owners and management teams. Pleasant Bay has investment experience in multiple industries with particular expertise and focus in Healthcare, Technology, Business Services, Industrial Products & Services, and Consumer Products & Services.
About Massachusetts Capital Resource Company
Massachusetts Capital Resource Company is a limited partnership privately owned and funded by Massachusetts-based life insurance companies. MCRC is a source of risk capital for Massachusetts business and invests across the entire range of business development financings, with a particular emphasis on growth capital. MCRC has invested more than $600 million in over 300 companies.