Cedar Gate Technologies Announces Strategic Investment from Cobalt Ventures
GREENWICH, Conn., Dec. 23, 2020 /PRNewswire/ -- Cedar Gate Technologies (Cedar Gate), a leading value-based care performance management company, today announced it has received a minority investment from Cobalt Ventures.
Cobalt Ventures, a subsidiary of Blue Cross and Blue Shield of Kansas City, invests in healthcare companies that increase the overall quality of healthcare services, improve outcomes and lower costs.
"We are pleased to receive this strategic investment from Cobalt Ventures," said David B. Snow Jr., CEO of Cedar Gate Technologies. "This validates the effectiveness of our end-to-end software and services platform to deliver better patient and financial outcomes. Healthcare's transformation to value-based care is critical and with this investment, we will continue to bring providers, payers and self-insured employers together so they can succeed in any risk-based arrangement."
Cedar Gate supports all facets of value-based care including primary care attribution, retrospective and prospective bundles, primary care capitation, specialty capitation and global capitation. Using its cloud-based SaaS platform and administrative systems, Cedar Gate enables payers, providers and self-insured employers to reduce medical spend, re-capture revenues and to deliver high-performance healthcare.
"Cobalt Ventures is excited to add Cedar Gate to our investment portfolio," said Phillip Linville, Principle for Cobalt Ventures. "Cedar Gate is a high-growth company that has become a leader in value-based care performance solutions and is well positioned to generate sustainable value across the healthcare technology sector."
John D. Kos, Principal of GTCR and a Cedar Gate board member, remarked, "Cedar Gate's strong growth since inception demonstrates GTCR's continued execution of The Leaders Strategy™, as we find ways to partner with talented and experienced executives like David Snow and help thm build industry-leading businesses through organic initiatives and M&A. We look forward to working with Cobalt Ventures as strategic partners to continue to build on Cedar Gate's leading position in the value-based care marketplace and enable payors, providers and self-insured employers to transition to value-based reimbursement through the use of superior performance management and operating systems."
About Cedar Gate Technologies
Cedar Gate provides high-performance analytic, technological, administrative and advisory services to providers, payers and self-insured employers to exceed performance thresholds of value-based care contracts, networks and programs.
Based in Greenwich, Connecticut, Cedar Gate leverages its deep healthcare expertise and nationally-recognized platform to deliver end-to-end systems and services empowering any healthcare organization, at any point on the value-based care continuum, to excel at value-based care. To learn more, please visit cedargate.com.
About Cobalt Ventures
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SOURCE Cedar Gate Technologies
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