Essence Group Holdings is the parent company of Lumeris, which sells technology and services to enable population health management and the shift to value-based care. Lumeris helps providers monitor patients after treatment and track outcomes across large patient networks. The company announced a $71 million financing and has raised about $141 million in total to date. Proceeds will be used to expand Lumeris operations from eight markets to twenty, adding 12 markets by the end of 2015. Management says the expansion could enable partnerships with organizations representing more than 50 million lives. Leadership frames the business as addressing Affordable Care Act–driven regulatory shifts that require payment tied to results rather than volume. Essence Group Holdings Corp. provides collaboration, reimbursement, clinical informatics and information technology services to healthcare companies. The company received an additional $9 million investment from Sandbox Industries‑managed BlueCross BlueShield Venture Partners. That investment adds to a $61 million infusion from Kleiner Perkins Caufield & Byers and Camden Partners announced in July. Essence said it intends to use most of the new capital in its Saint Louis, Missouri–based subsidiary Lumeris Corp., which focuses on software and services for accountable health care delivery systems. The article does not specify the investment instrument or valuation. Essence is led by chairman and chief executive officer W. Michael Long. Essence Group Holdings operates subsidiaries including Lumeris, ClearPractice and Essence Healthcare to support accountable care delivery. Its Lumeris subsidiary offers a cloud-based platform called TackleBox that integrates clinical and business intelligence, risk management, claims processing, clinical decision support and population health management. TackleBox includes Maestro, an evidence-based decision support engine, and is marketed to provider groups and health plans. The company says these tools enable collaboration among health plans, hospitals, physicians and patients to manage clinical and financial outcomes. EGHC announced a $61 million private funding round, which it says will allow the company to apply its expertise more broadly and accelerate deployment of its accountable-care solutions. Management cited a large market opportunity as health care spending transitions toward accountable delivery systems over the next decade.

Total raised

$141M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2014