Cedar Gate Technologies a leading value-based care performance management and operating company, today announced it has accepted a strategic minority investment in the company from Ascension Ventures.
Ascension Ventures is a healthcare-dedicated venture firm with more than $800 million in capital under management. Ascension Ventures counts 13 large health systems comprising nearly 500 hospitals as limited partners across its four investment funds, including Ascension, the nation’s largest nonprofit health system.
“We are very pleased to add Ascension Ventures as a strategic investment partner,” said David B. Snow Jr., CEO of Cedar Gate Technologies. “Their investment validates the momentum we’re experiencing in the marketplace as payers, providers and self-insured employers turn to our ISAAC™ performance management and Axia™ bundled payment administration systems to meet the requirements of value-based contracts and programs.”
“Ascension Ventures is excited to add Cedar Gate Technologies to our investment portfolio,” said Victor J. Kats, Managing Director and leader of the Healthcare Technology Practice at Ascension Ventures. “They have become a leader in value-based care performance management and bundled payment programs, with proprietary technologies and advisory services that have created a sustainable competitive advantage in the marketplace. Our intent is to help our limited partners and the broader market leverage that advantage to improve clinical quality, optimize operations and improve patient experience.”