UPMC

UPMC is a prominent nonprofit health system based in Pittsburgh, Pennsylvania, with a focus on delivering innovative medical solutions and technology-driven healthcare. With a strong emphasis on translating scientific advancements into practical cures, UPMC has established itself as a leader in the healthcare industry. As a $10 billion integrated global health enterprise, UPMC is dedicated to providing Life Changing Medicine and driving forward the pace of innovation in healthcare on a worldwide scale.

Frederick M. Hargett

CFO

30 past transactions

Safe Harbor Behavioral Health

Acquisition in 2024
Safe Harbor Behavioral Health

Sports Surgery Clinic

Acquisition in 2023
Sports Surgery Clinic Limited is an orthopedic hospital located in Dublin, Ireland, established in 2006. The clinic specializes in the assessment, diagnosis, and treatment of orthopedic conditions and sports injuries. Its comprehensive services include joint replacement surgeries for the shoulder, hip, and knee, as well as spinal assessments and surgeries. Additionally, the clinic offers specialized care in hand, foot, and ankle surgery, along with advanced sports medicine services. Patients have access to physiotherapy and performance rehabilitation, injury prevention programs, and state-of-the-art imaging services, including MRI and x-ray. The clinic is committed to providing high-quality care to enhance patient wellness and recovery.

Xealth

Series B in 2021
Xealth Inc. is a digital health company that has developed a comprehensive platform enabling clinicians to integrate, prescribe, and monitor various digital health tools and programs directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, Xealth's platform allows care teams to efficiently order digital health solutions for patients, facilitating seamless communication through email or patient portals. The platform also provides functionality for monitoring patient engagement and analyzing the impact of these tools on patient outcomes. Additionally, Xealth supports non-clinical services, such as ride-sharing and food delivery, enhancing the overall patient experience and promoting greater utilization of digital health resources.

CarepathRx

Corporate Round in 2020
CarepathRx is a healthcare-focused company that aims to enhance hospital pharmacy operations by transforming them into revenue-generating entities. It provides comprehensive management systems and end-to-end pharmacy services, including specialty, infusion, and continuous home solutions for prescriptions. By leveraging advanced technology and industry-leading pharmacy services, CarepathRx ensures consistent performance across healthcare organizations, addressing all pharmacy needs effectively.

Abridge

Series A in 2020
Abridge is a healthcare technology company focused on enhancing communication between patients and clinicians through its innovative application. By leveraging generative AI and machine learning, Abridge automates the transcription and summarization of medical discussions, transforming these conversations into structured clinical notes in real-time. This functionality facilitates better patient understanding and reduces the necessity for manual note-taking, while ensuring that essential documentation is incorporated into Electronic Health Record systems. The platform is designed to provide users with clear, understandable summaries of their medical interactions, empowering them to follow through on recommendations made by healthcare providers. Committed to data security and patient privacy, Abridge adheres to healthcare regulations and offers a customizable interface tailored to meet diverse patient needs.

Prodigo Solutions

Venture Round in 2019
Prodigo Solutions, Inc. is a healthcare supply chain company based in Cranberry Township, Pennsylvania, founded in 2008. It specializes in providing Software-as-a-Service (SaaS) eProcurement tools tailored for the healthcare industry in the United States. The company's primary offerings include ProdigoBuyer, a web-based requisition system that automates and expedites the requisition process; ProdigoMarketplace, a content management solution; and ProdigoXchange, which enhances connectivity between healthcare providers and suppliers. Additionally, Prodigo Solutions offers a range of consulting services that encompass supplier enablement, catalog management, spend analysis, and technical support. Its focus is on helping health systems, group purchasing organizations, and manufacturers control expenses and drive savings within the supply chain. Through its innovative platform, Prodigo Solutions connects buyers and suppliers, enabling clients to effectively manage their procurement needs at competitive price points.

Werewolf Therapeutics

Series A in 2019
Werewolf Therapeutics, Inc. is a biotechnology company based in Cambridge, Massachusetts, focused on developing innovative receptor agonists for cancer immunotherapy. Founded in 2017, the company is dedicated to creating therapeutics that stimulate the body’s immune system to combat cancer. Utilizing its proprietary PREDATOR platform, Werewolf designs conditionally activated molecules known as INDUKINE, which are engineered to remain inactive in peripheral tissues while selectively activating within the tumor microenvironment. This approach aims to overcome the limitations of traditional proinflammatory immune therapies, enhancing both adaptive and innate immunity to improve cancer treatment outcomes.

RxAnte

Funding Round in 2019
RxAnte Inc. is a healthcare analytics company based in Portland, Maine, founded in 2008. It specializes in predictive analytics and targeted clinical programs designed to enhance medication prescribing and adherence for health plans and their members. The company's platform effectively identifies patients who may benefit from interventions, enabling healthcare providers to monitor and manage medication programs over time. A key feature of RxAnte's offerings is the Mosaic Pharmacy Service, which focuses on delivering a superior pharmacy experience to complex and vulnerable patients. This service collaborates with prescribers and caregivers to ensure that medication regimens are safer, simpler, and more affordable, ultimately improving clinical quality and reducing overall healthcare costs. RxAnte operates as a subsidiary of Millennium Laboratories, Inc.

Xealth

Series A in 2019
Xealth Inc. is a digital health company that has developed a comprehensive platform enabling clinicians to integrate, prescribe, and monitor various digital health tools and programs directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, Xealth's platform allows care teams to efficiently order digital health solutions for patients, facilitating seamless communication through email or patient portals. The platform also provides functionality for monitoring patient engagement and analyzing the impact of these tools on patient outcomes. Additionally, Xealth supports non-clinical services, such as ride-sharing and food delivery, enhancing the overall patient experience and promoting greater utilization of digital health resources.

Health Catalyst

Debt Financing in 2019
Health Catalyst is a technology company that specializes in data and analytics solutions for healthcare organizations. The company offers a platform that organizes, normalizes, and links health-related data from various systems, making it accessible and searchable for all users, including those without technical expertise. Health Catalyst operates through two main segments: the Technology segment, which generates the majority of its revenue through cloud-based subscriptions, time-based licenses, and maintenance fees for its data platforms and analytics applications; and the Professional Services segment, which provides a range of services including analytics, implementation, strategic advisory, and outsourcing to help clients optimize their use of the technology. By integrating and analyzing healthcare data, Health Catalyst aims to enhance decision-making and improve outcomes in the healthcare sector.

Health Catalyst

Series F in 2019
Health Catalyst is a technology company that specializes in data and analytics solutions for healthcare organizations. The company offers a platform that organizes, normalizes, and links health-related data from various systems, making it accessible and searchable for all users, including those without technical expertise. Health Catalyst operates through two main segments: the Technology segment, which generates the majority of its revenue through cloud-based subscriptions, time-based licenses, and maintenance fees for its data platforms and analytics applications; and the Professional Services segment, which provides a range of services including analytics, implementation, strategic advisory, and outsourcing to help clients optimize their use of the technology. By integrating and analyzing healthcare data, Health Catalyst aims to enhance decision-making and improve outcomes in the healthcare sector.

Prodigo Solutions

Venture Round in 2018
Prodigo Solutions, Inc. is a healthcare supply chain company based in Cranberry Township, Pennsylvania, founded in 2008. It specializes in providing Software-as-a-Service (SaaS) eProcurement tools tailored for the healthcare industry in the United States. The company's primary offerings include ProdigoBuyer, a web-based requisition system that automates and expedites the requisition process; ProdigoMarketplace, a content management solution; and ProdigoXchange, which enhances connectivity between healthcare providers and suppliers. Additionally, Prodigo Solutions offers a range of consulting services that encompass supplier enablement, catalog management, spend analysis, and technical support. Its focus is on helping health systems, group purchasing organizations, and manufacturers control expenses and drive savings within the supply chain. Through its innovative platform, Prodigo Solutions connects buyers and suppliers, enabling clients to effectively manage their procurement needs at competitive price points.

Globin Solutions

Series A in 2018
Globin Solutions, Inc. is a biotechnology company based in Pittsburgh, Pennsylvania, focused on the research and development of a rapidly acting antidote for carbon monoxide poisoning, which is the most prevalent form of human poisoning. Established in 2017, the company is currently in the pre-clinical stage of its development process. Globin Solutions aims to advance its lead compound through rigorous preclinical testing and seeks regulatory approval for subsequent clinical trials. To enhance its research capabilities, the company plans to collaborate with experts in globin chemistry and protein engineering through sponsored research agreements with the University of Pittsburgh, thereby expanding its pipeline of therapeutic agents for carbon monoxide poisoning and potentially other medical indications.

Xealth

Seed Round in 2017
Xealth Inc. is a digital health company that has developed a comprehensive platform enabling clinicians to integrate, prescribe, and monitor various digital health tools and programs directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, Xealth's platform allows care teams to efficiently order digital health solutions for patients, facilitating seamless communication through email or patient portals. The platform also provides functionality for monitoring patient engagement and analyzing the impact of these tools on patient outcomes. Additionally, Xealth supports non-clinical services, such as ride-sharing and food delivery, enhancing the overall patient experience and promoting greater utilization of digital health resources.

ALung

Series C in 2017
ALung Technologies, Inc., established in 1997 and based in Pittsburgh, Pennsylvania, specializes in developing and manufacturing medical devices for treating acute respiratory failure. The company's primary product is the Hemolung Respiratory Assist System, a dialysis-like device that removes carbon dioxide and delivers oxygen directly to the blood, allowing patients' lungs to rest and heal while avoiding intubation and facilitating protective ventilation.

Susquehanna Health

Acquisition in 2016
UPMC Susquehanna is an affiliate of UPMC and a northcentral Pennsylvania based health system that includes Divine Providence Hospital, Muncy Valley Hospital, Soldiers & Sailors Memorial Hospital and Williamsport Regional Medical Center. Serving patients from an 11-county region, UPMC Susquehanna has been recognized at the national and state levels for quality of care. This regional provider offers a wide array of services that include cancer care, heart and vascular care/heart surgery, neurosciences including neurosurgery, orthopedics, urology, OB/GYN, gastrointestinal services, behavioral health, physical rehabilitation, home care, long term care, assisted living and paramedic/ambulance services.

RxAnte

Funding Round in 2016
RxAnte Inc. is a healthcare analytics company based in Portland, Maine, founded in 2008. It specializes in predictive analytics and targeted clinical programs designed to enhance medication prescribing and adherence for health plans and their members. The company's platform effectively identifies patients who may benefit from interventions, enabling healthcare providers to monitor and manage medication programs over time. A key feature of RxAnte's offerings is the Mosaic Pharmacy Service, which focuses on delivering a superior pharmacy experience to complex and vulnerable patients. This service collaborates with prescribers and caregivers to ensure that medication regimens are safer, simpler, and more affordable, ultimately improving clinical quality and reducing overall healthcare costs. RxAnte operates as a subsidiary of Millennium Laboratories, Inc.

Cernostics

Venture Round in 2016
Cernostics, Inc. is a diagnostics company based in Pittsburgh, Pennsylvania, specializing in cancer diagnostics and prognostics. Founded in 2008, the company employs a tissue systems biology approach to anatomic pathology, focusing on comprehensive evaluations of tumors composed of various cell types. Cernostics has developed the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess risk in Barrett’s esophagus patients, thereby aiding gastroenterologists in treatment decisions. The company’s innovative platform features advanced capabilities such as multi-channel fluorescence imaging, image reading, image segmentation, and biomarker expression analysis. Cernostics aims to provide insights into disease pathophysiology, facilitate biomarker discovery and validation, and support clinical trials, ultimately enhancing patient outcomes and reducing healthcare costs. The company also collaborates strategically with Deciphex Limited to further advance its technological initiatives.

Fabric Genomics (formerly Omicia)

Series B in 2016
Fabric Genomics is making genomics-driven precision medicine a reality. We provide clinical decision support software that enables clinical labs, hospital systems and country-sequencing programs to gain actionable genomic insights, resulting in faster and more accurate diagnoses and reduced turnaround time. Fabric’s end-to-end genomic analysis platform incorporates proven AI algorithms, and has applications in both hereditary disease and oncology. Headquartered in Oakland, California, Fabric Genomics was founded by industry veterans and innovators with a deep understanding of bioinformatics, large-scale genomics and clinical diagnostics.

MedCPU

Venture Round in 2016
MedCPU Inc. is a New York-based company founded in 2008 that specializes in real-time enterprise decision support software for healthcare providers. Its flagship product, medCPU Advisor, utilizes an innovative technology known as the Advisor Button, which captures and analyzes clinical information from both structured and unstructured data sources, including free-text notes and dictations entered into electronic medical records (EMRs). By integrating this data with a comprehensive library of clinical content, the platform delivers timely and precise guidance to healthcare professionals, enhancing decision-making and compliance in patient care. MedCPU aims to improve clinical outcomes by providing actionable insights at the point of care.

Health Catalyst

Series E in 2016
Health Catalyst is a technology company that specializes in data and analytics solutions for healthcare organizations. The company offers a platform that organizes, normalizes, and links health-related data from various systems, making it accessible and searchable for all users, including those without technical expertise. Health Catalyst operates through two main segments: the Technology segment, which generates the majority of its revenue through cloud-based subscriptions, time-based licenses, and maintenance fees for its data platforms and analytics applications; and the Professional Services segment, which provides a range of services including analytics, implementation, strategic advisory, and outsourcing to help clients optimize their use of the technology. By integrating and analyzing healthcare data, Health Catalyst aims to enhance decision-making and improve outcomes in the healthcare sector.

Lantern

Series A in 2016
Lantern is a San Francisco-based company founded in 2012 that focuses on improving emotional well-being through accessible and effective web and mobile programs. By harnessing cognitive behavioral therapy, Lantern provides users with exercises designed to cultivate healthy habits and offers personalized coaching through one-on-one messaging. The company aims to remove the stigma and barriers associated with mental health care, promoting a holistic approach to emotional self-improvement. Lantern's mission is to empower individuals to take proactive steps in managing their mental health, making support for emotional well-being both affordable and attainable.

Health Fidelity

Venture Round in 2015
Health Fidelity, Inc. is a technology-driven company based in San Mateo, California, specializing in risk adjustment solutions for healthcare organizations participating in Medicare Advantage, Medicaid, and Accountable Care Organization programs. Founded in 2011, the company utilizes advanced natural language processing technology to analyze clinical documentation, enabling the identification of hidden risk factors and extraction of critical insights from medical charts. Health Fidelity's offerings include a comprehensive risk adjustment solution that transforms the manual risk adjustment process into an integrated workflow, as well as Risk Analytics, which optimizes return on investment and identifies care gaps. Their HF360 Compliance solution further ensures accurate risk adjustment results and minimizes audit risks. By providing clear visibility and control over the risk adjustment process, Health Fidelity empowers organizations to enhance care planning and improve revenue capture in risk-sharing arrangements. The company operates as a subsidiary of the University of Pittsburgh Medical Center.

Prodigo Solutions

Venture Round in 2014
Prodigo Solutions, Inc. is a healthcare supply chain company based in Cranberry Township, Pennsylvania, founded in 2008. It specializes in providing Software-as-a-Service (SaaS) eProcurement tools tailored for the healthcare industry in the United States. The company's primary offerings include ProdigoBuyer, a web-based requisition system that automates and expedites the requisition process; ProdigoMarketplace, a content management solution; and ProdigoXchange, which enhances connectivity between healthcare providers and suppliers. Additionally, Prodigo Solutions offers a range of consulting services that encompass supplier enablement, catalog management, spend analysis, and technical support. Its focus is on helping health systems, group purchasing organizations, and manufacturers control expenses and drive savings within the supply chain. Through its innovative platform, Prodigo Solutions connects buyers and suppliers, enabling clients to effectively manage their procurement needs at competitive price points.

Evolent Health

Series B in 2013
Evolent Health is a company that supports health systems and providers in transitioning to value-based care and population health management. It offers a range of services, including specialty care management in areas like oncology and cardiology, total cost of care management, and administrative services. Evolent's approach integrates technology, tools, and on-the-ground resources to simplify healthcare delivery and management processes, aiming to improve health outcomes for individuals with complex conditions. By partnering with health plans and providers, Evolent aims to foster better healthcare experiences and outcomes.

dbMotion

Series C in 2009
dbMotion is a developer of a health information exchange platform that focuses on creating connected healthcare communities. Its software facilitates the establishment of a secured virtual patient record, which integrates patient information from various care providers and organizations. This approach allows healthcare entities to share clinical data securely, regardless of the format and geographical location of the information, without necessitating the centralization of data or the replacement of existing systems. By enabling meaningful integration and leveraging of information assets, dbMotion aims to enhance the quality, safety, and efficiency of patient care.

dbMotion

Series B in 2005
dbMotion is a developer of a health information exchange platform that focuses on creating connected healthcare communities. Its software facilitates the establishment of a secured virtual patient record, which integrates patient information from various care providers and organizations. This approach allows healthcare entities to share clinical data securely, regardless of the format and geographical location of the information, without necessitating the centralization of data or the replacement of existing systems. By enabling meaningful integration and leveraging of information assets, dbMotion aims to enhance the quality, safety, and efficiency of patient care.

BodyMedia

Series C in 2003
BodyMedia, founded in 1999 and based in Pittsburgh, Pennsylvania, specializes in the development of wearable body monitoring devices that collect physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology, clinically validated for accuracy. BodyMedia's devices assist both consumers and health professionals in making informed behavioral changes to manage weight and promote an active lifestyle, which are critical in addressing various medical conditions. The company has developed one of the largest databases of human physiological information, with its technology being utilized in over 100 clinical research studies related to health issues such as obesity, diabetes, and sleep disorders. Additionally, BodyMedia provides metabolic assessment and behavioral therapy services aimed at treating obesity and cardiovascular diseases, along with calorie management systems that help users track and compare calories burned with those consumed.

Renal Solutions

Series A in 2002
Renal Solutions is a company based in Warrendale, Pennsylvania, that specializes in the development of dialysis products and services. Founded in 2000, the company focuses on creating integrated medical devices for sorbent hemodialysis treatment, which is designed to improve care for patients suffering from chronic and acute kidney failure. By offering a clinical care model, Renal Solutions enables healthcare practitioners to provide convenient and flexible treatment options that utilize sorbent-based dialysis technology. In November 2007, Renal Solutions was acquired by Fresenius Medical Care, enhancing its capacity to deliver innovative renal care solutions.

BodyMedia

Series B in 2002
BodyMedia, founded in 1999 and based in Pittsburgh, Pennsylvania, specializes in the development of wearable body monitoring devices that collect physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology, clinically validated for accuracy. BodyMedia's devices assist both consumers and health professionals in making informed behavioral changes to manage weight and promote an active lifestyle, which are critical in addressing various medical conditions. The company has developed one of the largest databases of human physiological information, with its technology being utilized in over 100 clinical research studies related to health issues such as obesity, diabetes, and sleep disorders. Additionally, BodyMedia provides metabolic assessment and behavioral therapy services aimed at treating obesity and cardiovascular diseases, along with calorie management systems that help users track and compare calories burned with those consumed.
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