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 range of services includes joint replacement surgeries for the shoulder, hip, and knee, as well as spinal surgery, hand, foot, and ankle procedures. Additionally, the clinic offers sports medicine, physiotherapy, performance rehabilitation, and injury prevention programs. Advanced diagnostic services such as MRI and x-ray are also available. By combining surgical expertise with rehabilitation and wellness screening, Sports Surgery Clinic aims to provide effective and affordable healthcare solutions to its patients.

Xealth

Series B in 2021
Xealth Inc. operates a digital health prescribing platform that allows clinicians to integrate, prescribe, and monitor digital health tools directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, the platform facilitates patient engagement by enabling care teams to order appropriate digital health tools and programs, which can be sent to patients via email or patient portals. In addition to managing digital health prescriptions, the platform supports patient education and offers non-clinical services such as ride shares and food delivery. This comprehensive approach allows clinicians to monitor patient activity and engagement, ultimately enhancing the overall effectiveness of digital health initiatives within healthcare systems.

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 Inc. is a healthcare technology company founded in September 1999, focused on enhancing communication in medical settings through innovative tools. The company utilizes generative AI to automate the transcription and summarization of patient-clinician conversations, converting these interactions into structured clinical notes in real-time. This platform integrates seamlessly with Electronic Health Record (EHR) systems, significantly reducing the need for manual note-taking. By generating clear and understandable summaries, Abridge improves patient comprehension of medical discussions and ensures that relevant documentation is accurately recorded in patient files. Additionally, the company emphasizes data security and patient privacy, adhering to healthcare regulations while providing a customizable interface that caters to individual patient needs.

Prodigo Solutions

Venture Round in 2019
Prodigo Solutions, Inc. is a healthcare supply chain company based in Cranberry Township, Pennsylvania, specializing in Software-as-a-Service eProcurement tools for the healthcare sector in the United States. The company offers a range of solutions, including ProdigoBuyer, which automates the requisition process, ProdigoMarketplace, a content management system, and ProdigoXchange, a service that facilitates connectivity between healthcare providers and suppliers. Prodigo Solutions also provides consulting services focused on supplier enablement, contract management, enterprise resource planning, and supply chain transformation, among others. By connecting buyers and suppliers virtually, Prodigo Solutions aims to help healthcare organizations effectively manage their procurement processes and control supply chain expenses, ultimately driving savings for health systems, GPO networks, and manufacturers. Founded in 2008, the company is dedicated to enhancing procurement efficiency and transparency in the healthcare supply chain.

Werewolf Therapeutics

Series A in 2019
Werewolf Therapeutics, Inc. is a biotechnology company based in Cambridge, Massachusetts, focused on developing innovative therapeutics that enhance the body’s immune response to cancer. Founded in 2017, the company utilizes its proprietary PREDATOR platform to engineer conditionally activated molecules, known as INDUKINE molecules. These therapeutics are designed to remain inactive in peripheral tissues but activate selectively within the tumor microenvironment, addressing the limitations of traditional proinflammatory immune therapies. By stimulating both adaptive and innate immunity, Werewolf Therapeutics aims to improve cancer treatment outcomes.

RxAnte

Funding Round in 2019
RxAnte Inc. is a healthcare analytics company based in Portland, Maine, that specializes in predictive analytics and targeted clinical programs aimed at improving medication adherence and prescribing practices. Founded in 2008, RxAnte's platform enables health plans to predict individual patients' medication adherence, allowing for tailored interventions that enhance patient outcomes. A key feature of their offerings is the Mosaic Pharmacy Service, which focuses on providing an improved pharmacy experience for complex and vulnerable members while collaborating with prescribers and caregivers. This approach not only simplifies medication regimens but also aims to make them safer and more affordable, ultimately enhancing clinical quality and reducing overall healthcare costs. As of January 2014, RxAnte operates as a subsidiary of Millennium Laboratories, Inc.

Xealth

Series A in 2019
Xealth Inc. operates a digital health prescribing platform that allows clinicians to integrate, prescribe, and monitor digital health tools directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, the platform facilitates patient engagement by enabling care teams to order appropriate digital health tools and programs, which can be sent to patients via email or patient portals. In addition to managing digital health prescriptions, the platform supports patient education and offers non-clinical services such as ride shares and food delivery. This comprehensive approach allows clinicians to monitor patient activity and engagement, ultimately enhancing the overall effectiveness of digital health initiatives within healthcare systems.

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, specializing in Software-as-a-Service eProcurement tools for the healthcare sector in the United States. The company offers a range of solutions, including ProdigoBuyer, which automates the requisition process, ProdigoMarketplace, a content management system, and ProdigoXchange, a service that facilitates connectivity between healthcare providers and suppliers. Prodigo Solutions also provides consulting services focused on supplier enablement, contract management, enterprise resource planning, and supply chain transformation, among others. By connecting buyers and suppliers virtually, Prodigo Solutions aims to help healthcare organizations effectively manage their procurement processes and control supply chain expenses, ultimately driving savings for health systems, GPO networks, and manufacturers. Founded in 2008, the company is dedicated to enhancing procurement efficiency and transparency in the healthcare supply chain.

Globin Solutions

Series A in 2018
Globin Solutions, Inc. is a biotechnology company based in Pittsburgh, Pennsylvania, that was incorporated in 2017. It focuses on the research and development of a rapidly acting antidote for carbon monoxide poisoning, a prevalent type of poisoning in humans. As a pre-clinical stage biopharmaceutical firm, Globin Solutions aims to advance its lead compound through rigorous preclinical testing, with the intention of obtaining regulatory approval for clinical trials. The company collaborates with experts in globin chemistry and protein engineering, particularly through partnerships with the University of Pittsburgh, to enhance its pipeline of therapeutic agents not only for carbon monoxide poisoning but potentially for other medical indications as well.

Xealth

Seed Round in 2017
Xealth Inc. operates a digital health prescribing platform that allows clinicians to integrate, prescribe, and monitor digital health tools directly from electronic health record (EHR) workflows. Founded in 2016 and based in Seattle, Washington, the platform facilitates patient engagement by enabling care teams to order appropriate digital health tools and programs, which can be sent to patients via email or patient portals. In addition to managing digital health prescriptions, the platform supports patient education and offers non-clinical services such as ride shares and food delivery. This comprehensive approach allows clinicians to monitor patient activity and engagement, ultimately enhancing the overall effectiveness of digital health initiatives within healthcare systems.

ALung

Series C in 2017
ALung Technologies is a medical device manufacturing company based in Pittsburgh, Pennsylvania, founded in 1997. The company specializes in developing devices for gas exchange to treat acute and chronic respiratory disorders. Its primary product, the Hemolung Respiratory Assist System (RAS), functions as a dialysis-like alternative or supplement to mechanical ventilation, allowing physicians to effectively remove carbon dioxide from the blood without relying solely on the lungs. This technology aims to reduce the need for intubation and invasive ventilation, thereby improving patient outcomes. Additionally, ALung offers the Hattler Catheter, which facilitates the insertion of its gas exchange devices into the central venous bloodstream.

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, that specializes in predictive analytics and targeted clinical programs aimed at improving medication adherence and prescribing practices. Founded in 2008, RxAnte's platform enables health plans to predict individual patients' medication adherence, allowing for tailored interventions that enhance patient outcomes. A key feature of their offerings is the Mosaic Pharmacy Service, which focuses on providing an improved pharmacy experience for complex and vulnerable members while collaborating with prescribers and caregivers. This approach not only simplifies medication regimens but also aims to make them safer and more affordable, ultimately enhancing clinical quality and reducing overall healthcare costs. As of January 2014, 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 through a tissue systems biology approach. Founded in 2008, Cernostics develops the TissueCypher Barrett’s esophagus assay, which utilizes whole slide digital imaging technology to assess the risk for patients with Barrett’s esophagus, thereby reducing uncertainty in treatment decisions for gastroenterologists. The company's patent-protected TissueCypher platform analyzes whole slide digital images using multiplexed fluorescence, enhancing the accuracy of traditional tissue diagnostics by evaluating tumors as complex systems comprised of multiple cell types. Additionally, Cernostics operates a high-complexity clinical reference laboratory that supports biomarker discovery, validation, and clinical trial efforts, ultimately aiming to improve patient outcomes and reduce healthcare costs. The company has established a strategic collaboration with Deciphex Limited to further its capabilities in spatial biology and AI-driven image analytics.

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. develops real-time enterprise decision support software aimed at enhancing clinical care in hospitals across the United States. Founded in 2008 and based in New York, the company offers the medCPU Advisor platform, which integrates patient profiles derived from both structured and unstructured data. Its innovative Advisor Button technology captures and analyzes clinical information from clinicians’ free-text notes, dictations, and structured documentation entered into electronic medical records (EMRs). This analysis is conducted against an extensive library of medical content, allowing the platform to generate precise, real-time prompts for care consideration, as well as providing clinical and compliance guidance. MedCPU's focus is on improving decision-making processes in healthcare settings through advanced data integration and analysis.

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. specializes in transforming the risk adjustment process for health plans participating in Medicare Advantage, ACA, ACO, and Medicaid programs through its advanced technology and expertise. The company employs natural language processing (NLP) to analyze clinical documentation, allowing for the identification of hidden risk factors and extraction of insights from medical charts. Its solutions include a comprehensive risk adjustment platform that enhances how organizations identify, quantify, and manage risk, along with tools for optimizing return on investment and identifying care gaps. Additionally, Health Fidelity offers compliance solutions aimed at ensuring accurate risk adjustment results while minimizing audit risks. Founded in 2011 and based in San Mateo, California, Health Fidelity 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, specializing in Software-as-a-Service eProcurement tools for the healthcare sector in the United States. The company offers a range of solutions, including ProdigoBuyer, which automates the requisition process, ProdigoMarketplace, a content management system, and ProdigoXchange, a service that facilitates connectivity between healthcare providers and suppliers. Prodigo Solutions also provides consulting services focused on supplier enablement, contract management, enterprise resource planning, and supply chain transformation, among others. By connecting buyers and suppliers virtually, Prodigo Solutions aims to help healthcare organizations effectively manage their procurement processes and control supply chain expenses, ultimately driving savings for health systems, GPO networks, and manufacturers. Founded in 2008, the company is dedicated to enhancing procurement efficiency and transparency in the healthcare supply chain.

Evolent Health

Series B in 2013
Evolent Health is a population health management services organization that focuses on supporting health systems and physician organizations in their transition to value-based care. The company offers a range of services, including specialty care management in areas such as oncology, cardiology, and musculoskeletal health, as well as comprehensive cost management solutions. Evolent Health provides an integrated platform that combines health plan administration with a value-based business infrastructure, enabling healthcare providers to effectively manage population health and improve care delivery. Through its technology and resources, Evolent Health aids organizations in achieving their healthcare transformation goals.

dbMotion

Series C in 2009
dbMotion is a developer of a health information exchange platform focused on creating connected healthcare communities. Its software facilitates the development of secure virtual patient records by integrating patient information from various care providers and organizations without the need for data centralization or the replacement of existing systems. This interoperability enables healthcare organizations to share clinical information securely, regardless of data format or geographical location. By effectively connecting disparate information assets, dbMotion aims to enhance the quality, safety, and efficiency of patient care, ultimately transforming healthcare delivery through improved collaboration among care providers.

dbMotion

Series B in 2005
dbMotion is a developer of a health information exchange platform focused on creating connected healthcare communities. Its software facilitates the development of secure virtual patient records by integrating patient information from various care providers and organizations without the need for data centralization or the replacement of existing systems. This interoperability enables healthcare organizations to share clinical information securely, regardless of data format or geographical location. By effectively connecting disparate information assets, dbMotion aims to enhance the quality, safety, and efficiency of patient care, ultimately transforming healthcare delivery through improved collaboration among care providers.

BodyMedia

Series C in 2003
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.

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 and acquired by Fresenius Medical Care in 2007, the company focuses on creating integrated medical devices for sorbent hemodialysis treatment. These devices provide a clinical care model tailored for patients with chronic and acute kidney failure, allowing healthcare practitioners to offer flexible and convenient treatment options. Renal Solutions aims to enhance renal care through innovative sorbent-based dialysis technologies.

BodyMedia

Series B in 2002
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.
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