January 22, 2014
Quantum Health today announced that it has secured investment support from GE Ventures, the venture capital arm of GE, Altaris Capital Partners, and a co-investment group comprised of Steven Shulman and Lawrence Leisure, as well as strategic advisor Harlan Levine, M.D. - all of whom have a history of success growing original concepts in healthcare. These collaborative partners will further expand Quantum's innovative approach to help consumers navigate the healthcare system that results in better health outcomes at lower costs.
Quantum Health, an organization founded with the goal of reducing confusion and unnecessary costs in a complex healthcare system, has established a unique patient care coordination model for self-insured employers that has enabled clients to enjoy industry-leading satisfaction rates and claims savings. This is achieved by guiding patients and families through the challenging healthcare system and working together with physicians to ensure proper care while eliminating costly redundancies or delays in care. GE Ventures, Altaris, and the co-investor partners will provide additional expertise and help identify new market opportunities for Quantum as it continues to grow its presence in the evolving healthcare marketplace.
"Having GE Ventures, Altaris, and our co-investors join us is further recognition of our approach to more effectively navigate the healthcare system from the consumer and patient point of view," said Kara Trott, Chief Executive Officer, Quantum Health. "There is tremendous potential in these relationships and we are eager to begin taking our proven model to market more broadly."
"At GE we understand how important it is for companies to provide high quality and affordable healthcare to their employees," said Sue Siegel, CEO, GE Ventures & healthymagination. "We've been impressed by Quantum Health's successful approach to helping consumers navigate the healthcare system, allowing them to access the right care with the right provider at the right time."
"GE Ventures looks to invest in companies that provide practical and innovative solutions. Quantum Health has created a proven and trusted solution to the often confusing healthcare system with their care coordination model," said Risa Stack, General Manager, GE Ventures, Incubations. "We've chosen to partner with Quantum because we believe our two companies can have an even greater impact together within the world of healthcare."
Quantum Health, a privately held company, secured the partnerships based on its desire for greater growth. "Rather than for funding purposes, this strategic partnership is about bringing intellectual and reputational capital to Quantum Health," Trott said.
Collectively, the new partners have a track record of success in accelerating healthcare innovation in the marketplace.
"We see an entire class of employers who will embrace Quantum's care coordination model as a critical business asset and important employee benefit," said Steven Shulman, co-investor, Quantum Health. "As strategic partners, our role is to facilitate and introduce Quantum to these companies and accelerate adoption."