• EndoGastric Solutions

  Participated · Equity · Dec 2015

  EndoGastric Solutions is a Redmond, Washington–based medical device company focused on incisionless surgical technologies for GERD, notably the EsophyX device and the TIF 2.0 procedure. The company positions TIF 2.0 as a safe and effective alternative to surgery, citing more than 140 peer‑reviewed publications and outcomes showing many patients can eliminate daily medications for up to five years. Over 35,000 TIF 2.0 procedures have been performed worldwide, and EGS emphasizes an exemplary safety profile. EGS closed an $18M financing to further drive growth and broaden commercialization of the TIF 2.0 procedure. The financing announcement coincided with a leadership transition: Darin Hammers was appointed President and CEO, replacing Skip Baldino, who will remain a strategic advisor. Management says the new capital will provide added fuel to accelerate the company’s commercial evolution and adoption among physician partners and patients. EndoGastric Solutions develops a minimally invasive treatment for gastroesophageal reflux disease (GERD) using its TIF 2.0 procedure and a proprietary device that corrects the root cause of reflux without surgery. The company reports having performed the procedure on 22,000 patients to date. It aims to expand the reach of its non‑surgical option to capture a larger portion of the GERD market. Financially, EndoGastric recently closed a $45M Series I financing and has raised about $251M since launching in 2003. Company leadership says the new capital establishes a strong financial foundation to pursue significant growth and long‑term commercial viability. EndoGastric Solutions develops and commercializes innovative, evidence-based, incisionless procedural therapy for gastroesophageal reflux disease (GERD). Its core offering is the TIF® procedure, which the company is commercializing to physician customers. The company plans to use new financing to continue commercial expansion of the TIF® procedure and to support its physician customer base. It also intends to invest in sustaining engineering initiatives aimed at optimizing gross margin. The company is led by President and CEO Skip Baldino. GERD is a chronic condition in which the gastroesophageal valve allows gastric contents to reflux into the esophagus, causing heartburn and potential injury to the esophageal lining. EndoGastric Solutions (EGS) is a Redmond, Washington–based medical device company focused on incisionless treatment of GERD via its Transoral Incisionless Fundoplication (TIF) procedure and EsophyX devices. The company markets EsophyX technology—cleared by the FDA in 2007 and updated with the EsophyX Z in 2015—to reconstruct the gastroesophageal valve and reduce reflux. EGS reports more than 17,000 TIF patients treated worldwide since clearance and cites over 50 peer‑review papers documenting outcomes on more than 800 unique study patients. Recent changes in coding and payment—CPT Code 43210 and APC 5331 for TIF procedures effective January 1, 2016—aim to improve patient access and reimbursement. EGS says it will use new financing to begin broad‑scale commercialization and to fund R&D on next‑generation products used in the TIF procedure. The company positions TIF as a minimally invasive alternative that can reduce long‑term PPI use for chronic GERD sufferers. EndoGastric Solutions develops products and procedures that combine gastroenterology and surgery to address unmet needs in gastrointestinal diseases. Its core product, the EsophyX device, was FDA cleared in 2007 and is commercially available in the United States. The EsophyX device is inserted transorally with visual guidance from an endoscope and is used in the TIF procedure to reconstruct the gastroesophageal valve, restoring its competency and reestablishing the barrier to reflux. The company, led by President and CEO Skip Baldino, intends to use newly raised funds to support publishing data from three randomized trials, bring new products to market, and establish clear reimbursement for its technology. Financially, the company completed a $30M Series G financing to support these plans. The article does not disclose operating metrics such as revenue or user counts.

• Iora Health

  Participated · Equity · Sep 2015

  Iora Health is a Boston, MA-based primary care provider network led by CEO and co-founder Rushika Fernandopulle, MD, MPP. The company delivers a care model that includes office and non-office encounters (phone, text, and email), a transparent medical record, and educational offerings. It operates 48 practices across the U.S., serving thousands of Medicare beneficiaries. Iora completed a $126M Series F funding round. The company intends to use the funds to accelerate growth and to refine and optimize its care model. No revenue figures were disclosed in the article. Iora Health is a Boston-based primary care provider focused on Medicare patients over 65 years of age. The company is led by Co-Founder and CEO Rushika Fernandopulle. Iora builds a care model offering office and non-office based encounters (phone, text, email), an accessible and transparent medical record, and educational offerings through practices across the U.S. Its practices employ multidisciplinary care teams — a provider, health coach, behavioral health specialist, team nurse, clinical team manager, and an operations assistant — to treat the whole person. Iora raised $100M in a Series E financing. The company intends to use the funds to further invest in Chirp, its proprietary collaborative care technology platform that enables teams to care for patients as individuals and as a population. Iora Health is a Boston, MA-based developer of a health system that delivers relationship-based care. Led by co-founder and CEO Rushika Fernandopulle, MD, MPP, the company provides care via office and non-office encounters (phone, text, email) with a transparent medical record and educational offerings. Iora operates a proprietary collaborative care IT platform called Chirp and plans continued investment in that platform. The company serves diverse populations with an increasing focus on people aged 65 and older on Medicare, operating 34 primary care practices in 11 U.S. markets. Iora intends to use new funds to drive further expansion and efficiencies in its care model and to expand in the U.S. and globally. Iora Health operates a patient-centric primary care model that emphasizes hour-long appointments, integrated health coaches, and shared note-taking so patients can see clinicians' notes in real time. The company employs health coaches to help patients navigate insurance, review care plans, and provide hands-on support such as accompanying patients on shopping trips. Iora works with sponsors — including New England Carpenters Benefits Fund, Lahey Health, and Dartmouth College — who pay a flat monthly fee per patient as part of its payment model. The company is outcomes-oriented and led by co-founder and CEO Rushika Fernandopulle, a former Massachusetts General physician. Financially, Iora disclosed a $20 million raise from 15 investors via an amended Form D filing and had previously completed a $28 million Series C eight months earlier to support doubling its number of primary care practices. Named investors in its investor base include Foundation Medical Partners, Fidelity Biosciences, and GE Ventures. Iora Health is a Cambridge, Massachusetts-based healthcare company that has developed a health care operating system powered by a proprietary collaborative care platform. The platform is designed to enable care teams to better manage entire patient populations. The company currently manages eleven primary care practices across the U.S., serving employers, Medicare Advantage plans, commercial insurance plans and Taft Hartley Trust funds. Led by co-founder and CEO Rushika Fernandopulle, M.D., M.P.P., Iora partners with a range of sponsors including the Culinary Health Fund, Dartmouth College, the Freelancers Union, Grameen PrimaCare, Humana, King Arthur Flour, Lahey Health, the New England Carpenters Benefits Fund and Turntable Health. In January 2015 Iora raised $28M in a Series C and said it would use the proceeds to expand operations, aiming to double in size in 2015.

• Predilytics

  Participated · Series C · Dec 2014

  Predilytics is a Burlington, MA-based healthcare information technology company that applies patented machine-learning analytic tools to transform structured and unstructured client data and external sources into actionable insights. Its core product ingests diverse data to help healthcare organizations understand consumer behavior, optimize and precisely target care delivery, and improve population health. The company was founded in 2011 and is led by President and CEO Chris Coloian. On December 22, 2014, Predilytics secured an additional $10M Series C funding. The company intends to use the funds to continue to grow and develop its technology. The financing underscores continued investor support for its analytics platform and product development plans. Predilytics is a Burlington, MA-based advanced predictive analytics company founded in 2011 and led by Patrick Flynn, executive chairman. The company applies patented machine-learning analytic tools for healthcare organizations to optimize and target care delivery, increase revenue and control costs. Predilytics secured additional funding from Foundation Medical Partners; the amount of the funding was not disclosed. In conjunction with the transaction, Andrew D. Firlik, MD, Foundation Medical Partners managing partner, joined Predilytics' board of directors. The company intends to use the capital to grow the business and its customer base. Predilytics is also backed by Flybridge Capital Partners, Highland Capital Partners, Foundation Medical Partners, and Google Ventures. Predilytics is a U.S.-based healthcare data analytics and services company. Its products assist health plans and providers in identifying and prioritizing opportunities against key business initiatives, including improving appropriate documentation for disease burden, attracting and retaining plan membership, enhancing the effectiveness of care management, and reducing costly facility admissions and re-admissions. The company is led by President and CEO Christopher Coloian, Executive Chairman Patrick Flynn, CTO Doug Newell, COO Kirk Stanley and Chief Medical Officer Hari Sundram. Predilytics raised $6m in Series A financing. The company intends to use the funding to further expand its product offerings and grow operations with a focus on analytics, information technology, application development and account management.

• Valence Health

  Participated · Equity · Nov 2014

  Valence Health provides clinical integration, population health and value-based care solutions to hospitals, health systems and physicians. The company offers integrated advisory services, analytical solutions and outsourced services and helps clients design, build and manage value-based care models including clinically integrated networks, bundled payments, risk-based contracts, accountable care organizations and provider-sponsored health plans. Leveraging nearly 20 years of experience (founded in 1996), Valence serves 39,000 physicians and 130 hospitals and supports the care of 20 million patients with roughly 600 employees. The company reported first-half 2014 revenues up about 51% year-over-year, has added more than 150 employees this year, and is moving to a new national headquarters in Chicago. Management has reinvested over $100 million into the business over two decades and says the new capital will accelerate its growth. Planned uses for the funds include additional software development, sales and marketing, and client management resources to reach more providers pursuing value-based care. Valence Health offers an integrated suite of tech-enabled, patient-centered solutions combining data aggregation, sophisticated analytics, and web-based reporting to support collaborative care and quality measurement. The company also provides full health plan services—medical, financial, analytic, and call-center capabilities—either as a complete outsourced solution or for specific functions. Valence has an extensive history of managing risk and positions provider organizations for payment reforms such as bundled payments, medical home models, and ACOs. The company says it has been leading this space for 15 years and currently works with major health organizations including Cleveland Clinic, Texas Children’s Hospital, OhioHealth Group, and others. Valence plans to use new funding to add seasoned healthcare talent, invest in strategic sales and marketing, and expand its integrated solutions to improve care and lower costs. The company is based in Chicago and highlights its role in helping providers meet emerging regulatory and financial incentives for accountable care.

• SetPoint Medical

  Participated · Equity · Aug 2013

  SetPoint Medical is a commercial-stage medical technology company headquartered in Valencia, Calif., focused on therapies for chronic autoimmune diseases. Its FDA‑approved SetPoint System is the first neuroimmune modulation therapy for adults with moderate-to-severe rheumatoid arthritis, providing a device-based alternative for patients who do not respond to or cannot tolerate biologic or targeted drug therapies. The company’s proprietary integrated neurostimulation platform is designed to activate innate anti-inflammatory pathways in the vagus nerve to reduce inflammation and restore immunologic setpoint. Proceeds from the recent financing will support commercialization of the SetPoint System in select U.S. markets this year and broader national expansion in 2026, and will also fund advancement of the company’s pipeline in other autoimmune conditions. SetPoint plans to evaluate its platform for additional indications including multiple sclerosis and Crohn’s disease. In conjunction with the fundraise the company expanded its leadership team and board to support commercialization and market access efforts. SetPoint Medical is a privately held clinical-stage healthcare company focused on treating chronic autoimmune diseases. The company is developing a novel platform that stimulates the vagus nerve to activate the inflammatory reflex and produce a systemic immune-restorative effect. The SetPoint system is a miniaturized stimulation device placed on the vagus nerve through a small incision on the left side of the neck in an outpatient procedure and delivers stimulation on a preset schedule. The platform is being developed as an alternative for patients with rheumatoid arthritis who have an incomplete response to or are intolerant of biologic drugs, and is also intended for inflammatory bowel disease and other chronic autoimmune conditions. SetPoint is advancing the RESET-RA study and preparing U.S. FDA regulatory submissions and early commercialization for the RA indication. Financially, the company recently announced an $80 million equity financing and expanded a senior secured term loan facility of up to $65 million with Runway Growth Capital to support development and early commercial activities. SetPoint Medical develops a bioelectronic medicine platform designed to stimulate the vagus nerve and activate the body’s inflammatory reflex to produce a systemic immune‑restorative effect for chronic autoimmune diseases. The company is pursuing electrical‑pulse therapies as a potentially safer, lower‑cost alternative to drugs and biologics for conditions including rheumatoid arthritis and inflammatory bowel disease. SetPoint is clinical‑stage and is advancing its technology through the RESET‑RA study, which will evaluate safety and efficacy in patients with moderate‑to‑severe RA. The $35 million financing announced will support the ongoing RESET‑RA trial and other development activities. SetPoint is privately held, was founded in 2007, and is based in Valencia, California. The articles do not disclose revenue or user metrics. SetPoint Medical is a privately held, clinical‑stage bioelectronic medicine company developing a platform that stimulates the vagus nerve to activate the inflammatory reflex and reduce systemic inflammation. The company is initially focused on a less immunosuppressive therapeutic option for patients with rheumatoid arthritis (RA) and is also developing applications for inflammatory bowel disease and other chronic autoimmune conditions. SetPoint’s investigational device is intended to offer an alternative to biologic and targeted drug therapies with potentially lower risk and cost. The company has received Breakthrough Device designation from the U.S. FDA for use in RA patients who are incomplete responders to, or intolerant of, multiple biologic drugs. Proceeds from the financing will support the RESET‑RA multicenter, double‑blind, randomized, sham‑controlled pivotal trial that will enroll up to 250 patients at 40 U.S. sites to evaluate safety and effectiveness. SetPoint converts neurostimulation of the vagus nerve into a systemic immune‑restorative effect and is positioning its platform toward regulatory‑pathway clinical validation. SetPoint Medical is developing a proprietary bioelectronic medicine platform that uses a small implanted device to activate the body’s Inflammatory Reflex and produce a systemic anti-inflammatory effect. The company’s core product is an implanted stimulator that targets the vagus nerve as an alternative to drug therapies for chronic inflammatory diseases. SetPoint has published positive results from a first‑in‑human proof‑of‑concept trial in rheumatoid arthritis in PNAS and presented positive data at the American College of Rheumatology meeting. The company positions its approach as potentially lower risk and lower cost compared with current biologic treatments. SetPoint plans to use the new financing to advance clinical development and enable its next clinical trial in rheumatoid arthritis. It is a privately held company focused on commercializing bioelectronic medicines for debilitating inflammatory diseases.

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