XSOLIS, a healthcare technology firm using artificial intelligence to solve operational and financial challenges in healthcare, secured a $75 million minority growth investment from Brighton Park Capital, an investment firm specializing in partnering with growth-stage software, healthcare technology, information services, and technology-enabled business services.
With the latest additional capital, the company plans to accelerate its growth by scaling operations, expanding its customer footprint, and delivering new solutions to the market.
“By developing the market-leading AI-driven platform to address utilization management, we have addressed the communication gap between healthcare providers and payers that had presented a major challenge to the delivery of quality healthcare,” said Joan Butters, Co-Founder and Chief Executive Officer of XSOLIS.
Joan Butters said: “This investment will be a catalyst as we continue to expand and deliver new technology solutions, creating a better healthcare experience for patients, payers, and providers. We are excited Brighton Park recognizes the value of our solutions, and we look forward to leveraging their industry expertise as we enter this next phase of growth.”
XSOLIS develops an artificial intelligence-based software platform that helps national health systems and payers streamline the utilization management process. According to the company, its suite of data-driven solutions leverages insights from proprietary machine learning to eliminate operational and financial challenges, prioritize patient care and enable effective communication between payers and providers.
Mark F. Dzialga, Managing Partner at Brighton Park Capital, commented, “XSOLIS represents a convergence of opportunity, with products that fit the needs of today’s healthcare ecosystem, a leadership and advisory team that has scaled and grown companies before and an attentiveness to their customer that is evident and exciting. XSOLIS brings payers and providers together in a new way, united by artificial intelligence and informed by a shared technology framework. We are excited to partner with XSOLIS on their journey.”
According to Mercom’s Digital Health Funding and M&A Report Q1 2021, Healthcare practice management companies raised more than $200 million in Q1 2021. Recently, Hospital IQ, a real-time AI-enabled operations management software platform, secured $25 million in Series C funding led by Baxter Ventures with participation from existing investors Pierpoint Capital and Allscripts.
