Wellcentive
Acquired by Philips 2016
"Summit was a true partner to Wellcentive, offering strategic insight and access that helped accelerate our company’s success and our ability to drive meaningful change in healthcare."
Nearly tripled revenues during Summit’s two-year investment
Employees
Patient lives covered by healthcare organizations using Wellcentive solutions
Acquired by Philips
Nearly tripled revenues during Summit’s two-year investment
Employees
Patient lives covered by healthcare organizations using Wellcentive solutions
Acquired by Philips
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 were designed to 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 Partners 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.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Wellcentive is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with Wellcentive due to the company’s relationship with Summit.
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