Columbia, MD (May 22, 2023) – Medisolv Inc., a leader in healthcare quality data measurement and reporting solutions, announced today that BVP Forge, has completed a strategic investment in the company to accelerate its growth.
Medisolv was founded in 1999 with the simple idea that software can unlock the intelligence buried in the chaos of healthcare data, empowering end users to improve quality of care and their bottom line. As one of the leading providers of healthcare quality measurement and reporting solutions in the country, Medisolv has achieved 500 percent growth in just five years, partnering with more than 1,650 hospitals and 8,000 providers nationwide. Medisolv’s platform enables providers and health systems to aggregate data across a wide variety of clinical and financial data sources to calculate, validate, and submit care quality measurements to payers and regulators.
“Medisolv’s vision from the beginning was to create a data-driven, patient-centric performance improvement system to drive high-quality patient care. In the nearly 25 years since our founding, we have grown by offering unwavering dedication to clients who rely on our innovative software solutions and services,” said Zahid Butt, MD, FACG, Founder and CEO, Medisolv. “We were attracted to BVP Forge given their one-of-a-kind model that combines on-the-ground operational scaling support with the growth resources of Bessemer Venture Partners. We are excited about our growth prospects and look forward to continuing to deliver the high-quality software our clients expect, while advancing our innovation efforts to help them achieve excellence in a value-based care delivery world.”
Dr. Butt remains a significant shareholder and will continue to serve as CEO of the company.
Medisolv will benefit from ForgeEdge™, BVP Forge’s business-building program, as it scales its customer acquisition efforts, invests more behind customer success, and increases product investments to expand its footprint within the healthcare provider and payer end-markets. BVP Forge will also provide Medisolv access to the growth IP, talent network, and resources of Bessemer Venture Partners, which has decades of experience scaling healthcare and technology companies into market leaders.
“We are highly impressed with Medisolv’s mission-centric culture and demonstrated track record of consistent, profitable growth,” said Brian Cramer, BVP Forge Operating Partner. “We see a clear and compelling opportunity to advance the company’s mission and unlock growth opportunities within existing and new market segments.”
“Medisolv’s solutions sit at the heart of the transition towards value-based care delivery and payment models. The company has built an enviable customer base, enabling a significant portion of the healthcare provider market in the U.S. to identify quality improvement opportunities and meet growing regulatory and payer care quality requirements” said Navid Oreizy, BVP Forge Partner. “We are looking forward to working closely with the Medisolv team in the coming years to amplify their impact.”
Lincoln International served as financial advisor to Medisolv in this transaction.
About Medisolv, Inc.
Medisolv is a national leader in healthcare quality data management solutions for hospitals, ambulatory care providers, ACOs, and more. Its all-in-one quality management platform, ENCOR, helps healthcare organizations advance patient care by measuring and improving their performance on more than 500 national quality and safety measures, including those required by the Centers for Medicare and Medicaid, The Joint Commission, private payers, and state agencies. Medisolv now serves more than 1,650 hospitals and 8,000 providers nationwide and has been honored with the Black Book award and the Best in KLAS award for healthcare client satisfaction, as well as the HIMSS Policy Changemaker award for their pioneering work in digital quality measurement. For more information about Medisolv, please visit www.medisolv.com.
About BVP Forge
BVP Forge is the unique combination of a private equity firm for growth-oriented, self-sustaining software-enabled businesses paired with Bessemer Venture Partners’ global venture capital platform. BVP Forge combines Bessemer’s’ front-line industry insights, proven growth IP, and robust executive network with tailored resources for self-sustaining companies and the ForgeEdge™ operational program. Mission-driven teams gain an ally who values their expertise, respects their legacy, and supports them to build a winning culture and business that withstands the test of time. BVP Forge invests from a $780M fund in partnership with the $20B Bessemer platform that has backed industry-defining businesses such as LinkedIn, MindBody, PagerDuty, Procore, ServiceTitan, Shopify, Toast, and Twilio. For more information about BVP Forge, please visit https://www.bvp.com/forge.
Erin Heilman is the Vice President of Sales & Marketing for Medisolv, Inc.