PHOENIX--(BUSINESS WIRE)--The
CORE Institute, a leading provider of healthcare solutions, care
redesign, and service line management for musculoskeletal medical
practices, is pleased to announce that it has raised equity financing
from Frazier
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Healthcare Partners and Princeton
Ventures. Terms of the transaction were not disclosed.
The investment provides The CORE Institute with growth capital to
continue to expand its musculoskeletal care networks and partnerships
with payors for at-risk and pay-for-performance contracting. According
to Nathan Every, General Partner at Frazier Healthcare Partners, “The
CORE Institute has a proven track record for utilizing its
evidence-based protocols and proprietary IT platforms to manage cost and
improve quality for medical practices and health systems alike. We are
thrilled to be partnering with such an industry innovator.” As a
leader in musculoskeletal care, The CORE Institute has helped pioneer
the first national care network for direct-to-employer contracting in
the orthopedic market and has just established a Physician Hospital
Organization (PHO) with Banner Health. The CORE Institute continues to
expand its medical practice network throughout Arizona, Michigan and
other markets across the United States.
“Musculoskeletal care is the fastest growing segment of inpatient
hospital admissions in the U.S. This exponential growth is expected to
continue for the foreseeable future and we are excited to continue to
expand and support the growth across the country with Frazier Healthcare
Partners and Princeton Ventures,” said Dr. David Jacofsky, Chairman and
CEO of The CORE Institute. “Our managed practices achieve the highest
quality patient outcomes through the use of our nationally recognized
proprietary clinical pathways and protocols, known as Excellence Through
Evidence,® and our VIRT2 Health® outcomes management and predictive
analytics software platforms. These unique tools help our managed
practices to achieve great clinical outcomes and remain compliant with
the latest quality standards.”
Frazier Healthcare Partners brings transformative expertise to
healthcare companies, partnering with management teams to assess and
capitalize on business opportunities. In this transaction, Frazier and
Princeton have provided growth capital to position The CORE Institute
for long-term success.
About The CORE Institute
The CORE Institute was founded to fulfill a vision of excellence in
patient care encompassing the entire spectrum of orthopedic and
neurosciences care. The CORE Institute delivers integrated,
comprehensive musculoskeletal and neurological care. They are built upon
a foundation of pioneering research, academics, community service, and a
passion for excellence in patient care. The organization continues to be
a leader in payor-reform initiatives, and it is at the forefront of
systems-based quality programs which drive value and improve the quality
of patient care.
Connect with The CORE Institute at www.thecoreinstitute.com
or on Facebook,
and YouTube.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of
growth and venture capital to emerging healthcare service, medical
product and biopharma companies. With nearly $3.0 billion under
management, Frazier has invested in over 170 companies ranging from
early-stage venture investments to buyouts of profitable lower-middle
market companies. For 26 years, Frazier has established itself among
entrepreneurs and experienced executives as the preferred partner to
help create and rapidly grow market leading healthcare companies.
Frazier has offices in Seattle, Wash., and Menlo Park, Calif., and
invests broadly across the United States, Canada and Europe.
For more information about Frazier Healthcare Partners, visit the
company's website at www.frazierhealthcare.com.
About Princeton Ventures
Princeton Ventures partners with great entrepreneurs to provide capital,
strategic resources and expertise to help grow their businesses and
reduce risk. Princeton manages highly flexible capital that makes it
among the most accommodating and responsive growth equity investors in
the country. Princeton is deal size agnostic and leads larger rounds of
financing by co-investing with other top investors in its network. This
approach provides Princeton with enhanced flexibility in structuring
investments that best position companies for long-term success. Based in
Princeton, NJ, the firm invests in leading consumer, healthcare, and
technology companies at various stages of development.
For more information about Princeton Ventures, visit the company's
website at www.princetonventures.com.
Contacts
For media inquiries, please contact:
The CORE Institute
Allison
M Vasconcellos, MBA, 623-474-3444
Senior Vice President, Marketing,
Branding & Sales
or
10
to 1 Public Relations
Josh Weiss, 480-789-0743
President
or
Frazier
Healthcare Partners
Carol Eckert, 206-621-7200
Director of
Investor Relations