Phoenix, Ariz. (January 23, 2017) The CORE Institute, a leading provider of healthcare solutions, care redesign, and service line management for musculoskeletal medical practices, is pleased to announce that it has raised equity financing from Frazier Healthcare Partners and Princeton Ventures. Terms of the transaction were not disclosed.
The investment provides The CORE Institute with growth capital to continue to expand its musculoskeletal care networks and partnerships with payors for at-risk and pay-for-performance contracting. According to Nathan Every, General Partner at Frazier Healthcare Partners, “The CORE Institute has a proven track record for utilizing its evidence-based protocols and proprietary IT platforms to manage cost and improve quality for medical practices and health systems alike. We are thrilled to be partnering with such an industry innovator.” As a leader in musculoskeletal care, The CORE Institute has helped pioneer the first national care network for direct-to-employer contracting in the orthopedic market and has just established a Physician Hospital Organization (PHO) with Banner Health. The CORE Institute continues to expand its medical practice network throughout Arizona, Michigan and other markets across the United States.
“Musculoskeletal care is the fastest growing segment of inpatient hospital admissions in the U.S. This exponential growth is expected to continue for the foreseeable future and we are excited to continue to expand and support the growth across the country with Frazier Healthcare Partners and Princeton Ventures,” said Dr. David Jacofsky, Chairman and CEO of The CORE Institute. “Our managed practices achieve the highest quality patient outcomes through the use of our nationally recognized proprietary clinical pathways and protocols, known as Excellence Through Evidence,® and our VIRT2 Health® outcomes management and predictive analytics software platforms. These unique tools help our managed practices to achieve great clinical outcomes and remain compliant with the latest quality standards.”
Frazier Healthcare Partners brings transformative expertise to healthcare companies, partnering with management teams to assess and capitalize on business opportunities. In this transaction, Frazier and Princeton have provided growth capital to position The CORE Institute for long-term success.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to emerging healthcare service, medical product and biopharma companies. With nearly $3.0 billion under management, Frazier has invested in over 170 companies ranging from early-stage venture investments to buyouts of profitable lower-middle market companies. For 26 years, Frazier has established itself among entrepreneurs and experienced executives as the preferred partner to help create and rapidly grow market leading healthcare companies. Frazier has offices in Seattle, Wash., and Menlo Park, Calif., and invests broadly across the United States, Canada and Europe.
For more information about Frazier Healthcare Partners, visit the company's website at www.frazierhealthcare.com.
About Princeton Ventures
Princeton Ventures partners with great entrepreneurs to provide capital, strategic resources and expertise to help grow their businesses and reduce risk. Princeton manages highly flexible capital that makes it among the most accommodating and responsive growth equity investors in the country. Princeton is deal size agnostic and leads larger rounds of financing by co-investing with other top investors in its network. This approach provides Princeton with enhanced flexibility in structuring investments that best position companies for long-term success. Based in Princeton, NJ, the firm invests in leading consumer, healthcare, and technology companies at various stages of development.
For more information about Princeton Ventures, visit the company's website at www.princetonventures.com.