LogicStream Health Closes Series B Financing to Accelerate Growth
MINNEAPOLIS, MN–(Marketwired – May 17, 2017) – LogicStream Health, the leading provider of Clinical Process Improvement solutions, today announced it has closed a Series B funding round led by Noro-Moseley Partners. The round also included investments from existing investors.
Plans for the new capital include further investment in the company’s technology platform, which allows health systems to standardize processes, understand how care delivery impacts clinical outcomes, and drive clinician adoption. With self-service access to the information operational stakeholders need throughout health systems, LogicStream clients are experiencing improved clinical outcomes and reducing the cost of care.
Funding will also be used to meet growing market demand by expanding LogicStream Health’s product development, sales and marketing teams.
Founded in 2013 by clinicians who saw the need to make electronic health record (EHR) information actionable, LogicStream Health pioneered Clinical Process Improvment. The company’s platform leverages clinician activity information and data from multiple sources to drive improved processes and outcomes at each of its health system clients.
“We are seeing rapid growth in market demand for robust Clinical Process Improvement solutions, as evidenced by several recent new customers,” said LogicStream Health CEO Patrick Yoder. “As health systems come to understand the need for self-service access to the critical process information needed to improve quality and clinical outcomes, they recognize the importance of our solutions. Leveraging this new capital and Noro-Moseley Partners’ experience in healthcare information technology, we can accelerate our growth to meet this market demand and build out our vision for true Clinical Process Improvement.”
“We are excited to be partnering with Patrick and the entire LogicStream Health team,” said Spence McClelland, Noro-Moseley partner. “Health systems have made massive investments in electronic medical records and data warehouses over the last decade, but are still looking to unlock the value of that data. LogicStream’s solutions allow them to optimize and recognize a return on their largest IT investment, the EHR. We evaluated all the solutions in the emerging Clinical Process Improvement market and recognized LogicStream as the clear leader.”
LogicStream was advised by Nixon Peabody LLP. Noro-Moseley Partners was advised by Nelson Mullins Riley & Scarborough, LLP.
About LogicStream Health
LogicStream Health is trusted by all types of healthcare providers across the United States. We are dedicated to helping health systems fully leverage their clinical quality improvement efforts and investment in EHR technology to improve the lives of the patients they serve and the caregivers they employ. The LogicStream Solution is designed to assist in the analysis, evaluation and management of a hospital or health system’s clinical processes and standardization efforts. With a strong and experienced team focused on innovation, LogicStream provides a scalable and sustainable method to deliver highly reliable healthcare to any health system. For more information, visit Logic-Stream.net.
Noro-Moseley Partners, based in Atlanta, is a private equity firm focused on early growth stage companies in the healthcare IT and services sectors and information technology sectors. Since 1983, NMP has been a leader in its market, investing more than $650 million in over 175 companies. The managers of NMP’s current fund, Noro-Moseley Partners VII, have more than 60 years collectively of direct venture investing experience and bring a diverse set of skills to assist entrepreneurs in growing their companies. For more information, visit www.noro-moseley.com.