Strata Health attracts vencap investment
August 6, 2014
CALGARY – Strata Health Solutions has announced a growth equity investment from Polaris Partners, a Boston-based venture capital and private equity firm that focuses on the healthcare and technology markets. The investment will enable Strata to expand its leading integrated eReferral and intelligent resource matching products throughout Canada and the United Kingdom, and enter new markets in Europe and the United States.
Founded in 2001, Strata has developed an innovative SaaS technology platform that dramatically improves patient flow, connectivity and performance analytics across health systems.
“The market opportunity to deliver greater efficiency to health systems while demonstrating measurable improvements for providers and meaningful benefits for patients as they move through their respective health journeys is substantial and expanding rapidly,” said Don Schick (pictured), CEO and Co-Founder of Strata Health. “In Polaris, we found a partner with extensive HCIT and SaaS expertise, but also one that shares our vision and values. We are now well positioned to grow our business and bring the Strata platform to new regions, health systems, and the patients they serve.”
With the equity investment, Polaris Managing Partner Bryce Youngren joins the Strata Board of Directors and will work closely with Don and existing management to realize Strata’s vision of improving patient flow in markets around the globe.
“A universal lack of connectivity between healthcare providers results in delays in care, hospital readmissions, and significant added costs to the healthcare system,” said Youngren. “Strata’s market leading SaaS platform solves these problems by creating a seamless link between client need and available resources at primary care, acute care and post-acute care facilities and programs, while delivering substantial cost savings to healthcare providers.
“The market is ripe for disruption,” Youngren continued, “and we believe Strata is the answer to many of these challenges faced today. We look forward to building on their impressive track record to make a substantial market impact on a global scale.”
About Strata Health Solutions
Strata Health leverages technology to achieve dramatic patient flow improvement within health systems. Our clients say they’ve entrusted us with the job of creating patient flow solutions that achieve real and dramatic benefits for patients, their families, and the world’s devoted front line caregivers. Strata Health is based in Calgary, Alberta, Canada and Dartford, Kent, UK with offices also in Vancouver, Toronto and Montreal. For more information, visit www.stratahealth.com.
About Polaris Partners
Founded in 1996, Polaris Partners has more than $3.5 billion in capital under management invested into a diverse portfolio of technology and healthcare companies throughout their lifecycles. From the earliest startup phases through the growth stages, Polaris Partners takes minority and majority positions alongside outstanding management teams to help grow industry leading companies.