Population health management SaaS provider
Nearly tripled revenues during Summit’s two-year investment
Scaled the business nationally, providing solutions to healthcare organizations that collectively cover more than 30 million patient lives
Expanded headcount to more than 115 employees
Recognized as an industry leader by KLAS, Gartner and IDC
Acquired by Philips in 2016
Founded in 2005, Wellcentive was built from the ground up to help physicians and health organizations transition to value-based care. The company’s cloud-based, scalable population health management solutions simplify complex data from all points of care to advance comprehensive care management and payer collaboration, while improving clinical, financial and human outcomes. After seasoned healthcare executive Tom Zajac became CEO in 2013, Wellcentive sought a financial partner to provide partial liquidity to the cofounders, as well as growth capital and strategic support for expansion initiatives. In 2014, Summit led a financing round with existing investors Noro-Moseley Partners and Harbert Venture Partners.
How Summit Helped
- Led a minority growth investment in 2014
- Assisted in expanding the existing management team, helping to recruit a VP of Services
- Worked closely with management to refine and develop sales strategy to drive new customer acquisitions in additional verticals
- Helped develop robust KPI tracking, build dashboards and create a working financial model to prepare and position Wellcentive for a strategic sale
Wellcentive was acquired by Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, in 2016. The company became part of Philips’ Population Health Management business group, and appointed CEO Tom Zajac as its leader. Philips Wellcentive continues to be the trusted partner for health organizations, physicians, payers and patients to collaboratively transform and manage the care process for populations. In 2017, Tom Zajac joined Summit’s Executive-in-Residence program, where he works closely with the Healthcare & Life Sciences team at Summit Partners to identify new investment opportunities within growth-stage healthcare IT and healthcare services companies.