GREENWICH, Conn., Dec. 23, 2020 /PRNewswire/ — Cedar Gate Technologies (Cedar Gate), a leading value-based care performance management company, today announced it has received a minority investment from Cobalt Ventures.
Cobalt Ventures, a subsidiary of Blue Cross and Blue Shield of Kansas City, invests in healthcare companies that increase the overall quality of healthcare services, improve outcomes and lower costs.
“We are pleased to receive this strategic investment from Cobalt Ventures,” said David B. Snow Jr., CEO of Cedar Gate Technologies. “This validates the effectiveness of our end-to-end software and services platform to deliver better patient and financial outcomes. Healthcare’s transformation to value-based care is critical and with this investment, we will continue to bring providers, payers and self-insured employers together so they can succeed in any risk-based arrangement.”
Cedar Gate supports all facets of value-based care including primary care attribution, retrospective and prospective bundles, primary care capitation, specialty capitation and global capitation. Using its cloud-based SaaS platform and administrative systems, Cedar Gate enables payers, providers and self-insured employers to reduce medical spend, re-capture revenues and to deliver high-performance healthcare.
“Cobalt Ventures is excited to add Cedar Gate to our investment portfolio,” said Phillip Linville, Principle for Cobalt Ventures. “Cedar Gate is a high-growth company that has become a leader in value-based care performance solutions and is well positioned to generate sustainable value across the healthcare technology sector.”
John D. Kos, Principal of GTCR and a Cedar Gate board member, remarked, “Cedar Gate’s strong growth since inception demonstrates GTCR’s continued execution of The Leaders Strategy™, as we find ways to partner with talented and experienced executives like David Snow and help them build industry-leading businesses through organic initiatives and M&A. We look forward to working with Cobalt Ventures as strategic partners to continue to build on Cedar Gate’s leading position in the value-based care marketplace and enable payors, providers and self-insured employers to transition to value-based reimbursement through the use of superior performance management and operating systems.”
About Cedar Gate Technologies
Cedar Gate Technologies is a leading value-based care performance management company founded in 2014 by David B. Snow Jr., a nationally recognized Fortune 50 CEO, in partnership with GTCR, a leading Chicago-based private equity firm. In 2018, Ascension Ventures, a strategic healthcare venture firm, became part of the ownership group.
Cedar Gate provides high-performance analytic, technological, administrative and advisory services to providers, payers and self-insured employers to exceed performance thresholds of value-based care contracts, networks and programs.
Based in Greenwich, Connecticut, Cedar Gate leverages its deep healthcare expertise and nationally-recognized platform to deliver end-to-end systems and services empowering any healthcare organization, at any point on the value-based care continuum, to excel at value-based care. To learn more, please visit cedargate.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $18 billion in over 200 companies. For more information, please visit www.gtcr.com.
About Cobalt Ventures
Cobalt Ventures, LLC is the captive investment subsidiary of Blue Cross and Blue Shield of Kansas City, the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. Cobalt owns, or is invested in, a portfolio of innovative companies in the healthcare services industry. Cobalt’s goal is to be a strategic investment partner to help grow companies bringing new and innovative services to the healthcare universe. More information about Cobalt Ventures can be found at http://www.cobalt-ventures.com.
Contact:
Julie Callahan
469.579.8045
[email protected]
SOURCE Cedar Gate Technologies
