Post Acute Analytics (“PAA”) www.paanalytics.com, a provider of end-to-end solutions that empower healthcare providers and payors to positively impact the total quality and cost of care, today announced the Company has closed a Series B round of funding. The round was co-led by Concord Health Partners, through its AHA Innovation Development Fund, and Dorilton Capital. Existing investors including Generator Ventures also participated in the round.
Post Acute Analytics enables healthcare providers and payors to make real-time decisions that improve patient outcomes while reducing total cost of care through the implementation of artificial intelligence, a turnkey integration engine, and medical leadership. PAA works in conjunction with customers across the healthcare universe including some of the largest health plans, hospitals, and physician groups in the United States. PAA is currently being utilized by over 2,000 providers in the country demonstrating total cost of care reduction of 13.2%.
Saqib Akhter, Co-Founder and CEO of PAA, stated, “I am extremely excited to have the strategic and financial backing of our new investors. The oversubscribed financing round follows many months of continued growth as new customers adopted our cost saving solutions. This is an enormous accomplishment for our organization, and we could not be more excited to welcome the insights from each of our partners. They each bring a unique perspective and expertise that will assist us in continuing to build out our end-to-end solution and proactively assist our customers in delivering high quality care at a lower cost.”
John Taylor, Co-Founder and Chairman of PAA, stated, “The Series B invested capital will be used to further develop and enhance PAA’s proprietary artificial intelligence & technology platform, bolster its management team, and support the Company’s efforts to continue to partner with its clients by sharing in risk as clients increasingly participate in value based health care initiatives.”
“Generator Ventures is pleased to continue to support Post Acute Analytics in helping them to strategize and raise capital to support growth in their real-time data solution for post-acute care. With Dorilton Capital and Concord Health Partners we will continue to advance the company’s quality and value proposition for post-acute care patients, providers, and payers,” said Arnie Whitman, Managing Director of Generator Ventures.
James Olsen, Founder and Managing Partner of Concord Health Partners, added, “Concord is focused on identifying and supporting healthcare companies with innovative solutions that lower costs and expand access to quality healthcare. PAA hits our criteria on all fronts and we are thrilled to partner with Saqib and the rest of the team to help build on its already impressive track record of assisting its customers to understand how to deliver better quality care at manageable costs in the post-acute setting.”
Darren Fultz, Co-Founder and Chief Executive Officer of Dorilton Capital, commented, “As long-term investors in the post-acute sector, we are excited to support the continued growth of PAA and appreciate the innovative analytics PAA delivers to its customers to ensure that patients receive the most appropriate and highest quality of care. Our investment in PAA marks the beginning of a selective effort by Dorilton Capital to invest in promising earlier stage businesses that are driving disruptive innovation in targeted sectors.”