CIBC Innovation Banking announced today that it has provided Senior Credit Facilities to support BVP Forge’s strategic investment and fund working capital in Medisolv, a leading healthcare quality management platform.
Medisolv helps improve the quality of patient care and provider performance by enabling users with the latest technologies to aggregate data across a wide variety of clinical and financial sources. The platform is used by thousands of hospitals and healthcare providers across the U.S.
“We are delighted to support Medisolv’s mission to advance towards a value-based healthcare delivery and payments model,” said Joe Hammer, Co-Head Life Science and Healthcare, CIBC Innovation Banking. “We look forward to working with the team and BVP Forge as it aims to expand the company’s footprint within the healthcare provider and payer end-markets.”
“Medisolv’s vision from the beginning was to create a data-driven, patient-centric performance improvement system to drive high-quality patient care. In the nearly 25 years since our founding, we have grown by offering unwavering dedication to clients who rely on our innovative software solutions and services,” said Zahid Butt; MD, FACG, Founder and Chief Executive Officer, Medisolv. “CIBC Innovation Banking's team industry expertise will be invaluable as we partner with BVP Forge to advance our efforts.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About Medisolv, Inc.
Medisolv is a national leader in healthcare quality data management solutions for hospitals, ambulatory care providers, ACOs, and more. Its all-in-one quality management platform, ENCOR, helps healthcare organizations advance patient care by measuring and improving their performance on more than 500 national quality and safety measures, including those required by the Centers for Medicare and Medicaid, The Joint Commission, private payers, and state agencies. Medisolv now serves more than 1,750 hospitals and 9,000 providers nationwide and has been honored with the Black Book award and the Best in KLAS award for healthcare client satisfaction, as well as the HIMSS Policy Changemaker award for their pioneering work in digital quality measurement.
About BVP Forge
BVP Forge is the unique combination of a private equity firm for growth-oriented, self-sustaining software-enabled businesses paired with Bessemer Venture Partners’ global venture capital platform. BVP Forge combines Bessemer’s’ front-line industry insights, proven growth IP, and robust executive network with tailored resources for self-sustaining companies and the ForgeEdge™ operational program. Mission-driven teams gain an ally who values their expertise, respects their legacy, and supports them to build a winning culture and business that withstands the test of time. BVP Forge invests from a $780M fund in partnership with the $20B Bessemer platform that has backed industry-defining businesses such as LinkedIn, MindBody, PagerDuty, Procore, ServiceTitan, Shopify, Toast, and Twilio.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230712569498/en/
Contacts
CIBC: Katarina Milicevic, katarina.milicevic@cibc.com, 416-784-6108
Medisolv: Erin Heilman, eheilman@medisolv.com, 443-264-4362
