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Cedar Gate Technologies Announces Strategic Investment from Ascension VenturesGREENWICH, Conn., Jan. 7, 2019 /PRNewswire/ -- 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." John D. Kos, Principal of GTCR and a Cedar Gate board member, remarked: "We look forward to working with Victor Kats and Ascension Ventures to advance Cedar Gate's leading position in the value-based care marketplace and enable providers, payers and self-insured employers to transition to value-based reimbursement through the use of superior performance management and operating systems." Victor Kats will represent Ascension Ventures as a member of the board of directors of Cedar Gate Technologies. Other members of the board include: Chairman David B. Snow Jr., David Levy, M.D., CEO of EHE and past head of Price Waterhouse Coopers' Global Healthcare practice, Leslie Norwalk, Esq., Strategic Counsel to Epstein Becker Green, P.C. and past Acting Administrator for the Centers for Medicare and Medicaid Services (CMS), Lee Sacks, M.D., past Chief Medical Officer and EVP of Advocate Aurora Health and representatives from private equity firm GTCR. About Cedar Gate Technologies Cedar Gate provides high-performance analytic and operating systems that enable users to meet and exceed the performance thresholds of risk-based contracts and programs. It is the leading provider of prospective bundled payment programs, with more than 20 years of experience creating, implementing and administrating programs for high-frequency, high-cost episodes of care. Cedar Gate serves more than 1,000 healthcare providers and payers operating value-based alternative payment programs and clinical Centers of Excellence. About GTCR About Ascension Ventures
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