Investment Enables GSI Health to Accelerate Growth and Leverage Success into New Markets
Philadelphia, Pennsylvania—June 16, 2015—GSI Health, a leading national provider of care coordination solutions enabling whole person care, today announced that it has received an investment from Rittenhouse Ventures, a Philadelphia-based venture capital firm that invests in emerging technology companies. GSI Health will use the funding to continue product innovation and support the company’s expansion into new markets across the country.
GSI Health’s cloud-based software solutions offer a big-picture view into patient care coordination, enabling providers to manage, analyze, and engage with patients in real-time as they move through the care delivery system. As a pioneer in technology solutions for federated community-based care, GSI Health supports the care management of hundreds of thousands of lives, and has recently extended its leadership in New York by being selected as the preferred provider to two major Performing Provider Systems (PPSs) in the New York State Delivery System Reform Incentive Payment (DSRIP) program.
“Healthcare delivery is facing a transformation as the industry moves away from the traditional fee-for-service model and embraces the fee-for-value paradigm,” said Lee Jones, CEO of GSI Health. “This investment in our pure-play population health management solution further validates the alignment of institutional investors, public and private payers, and care delivery organizations with our strategy to effectively manage this transformation and our approach to this dynamic marketplace.”
Specializing in healthcare and pharmaceutical information technology investments, Rittenhouse Ventures offers deep experience growing recurring revenue enterprise-focused software-as-a-service (SaaS) businesses. “GSI Health is in our sweet spot of opportunities—a company on a steep growth trajectory with a unique, market-leading product that is making a difference in how providers deliver care to their patients,” said Saul Richter, founder and Managing Partner of Rittenhouse Ventures. “As the adoption of fee-for-value payments accelerates, we see great potential for this business model.” Mr. Richter will be joining the GSI Health board of directors, bringing decades of technical and financial expertise to the company.