Lucro Announces New Funding from Health Insight Capital and Heritage Group

By March 3, 2016News, Press

NASHVILLE, Tenn.–(BUSINESS WIRE)–Lucro, an enterprise founded by Martin Ventures, today announced it has secured funding from additional healthcare industry investors including Health Insight Capital, a subsidiary of HCA that invests in early stage companies, and Heritage Group, an investment team backed by the United States’ leading healthcare companies.

Lucro’s platform is designed to re-invent how health systems interact with, evaluate and purchase healthcare technologies, products and services. The Lucro Marketplace supports healthcare leaders in making strategic purchasing decisions, allowing them to discover and compare solutions and privately collaborate with their peers on decision-making. Vendors gain increased visibility and strategic market insights through engagement with healthcare organizations across the industry.

“Lucro’s research platform is a promising concept that may lead to improved purchasing decisions which ultimately could enhance the care we provide to our patients,” said Joe Sowell, HCA’s Senior Vice President, Development. “We’re optimistic Lucro will give us greater insight into healthcare innovations that could be deployed across our system to improve quality and efficiency and reduce costs.”

David McClellan, Managing Director at Heritage Group added, “The initial experience with Lucro by healthcare organizations among our strategic investors is encouraging. We believe the Lucro Marketplace will leverage the power of this community to accelerate better decisions regarding innovation in healthcare.”

Lucro was conceived around the idea of enabling healthcare systems to more effectively leverage their scale through internal and external collaboration among trusted peers within the healthcare industry. “Not only will Lucro redefine how buyers connect with vendors, but the platform will also synthesize trusted sources of insight from across the industry to provide context and clarity for making decisions faster and with lower risk,” said Lucro’s CEO and Founder, Bruce Brandes. “We are excited to further align our efforts with HCA and Heritage Group to help not only healthcare organizations, but also the innovative solution providers and industry groups which are critical to their success.”

ABOUT LUCRO

Lucro is a new marketplace for healthcare leaders to innovate faster with greater clarity. Until now, information on technologies, products and services has been hard to find and even harder to trust. With Lucro, healthcare leaders can collaborate with a private community of trusted peers when evaluating solutions and accelerate decisions. For more information, visitlucromarketplace.com.

ABOUT HERITAGE GROUP

Heritage Group is a Nashville-based, healthcare-exclusive venture capital firm with more than 30 years of experience financing and operating healthcare companies at all stages. With more than $300M under management in the firm’s strategic funds, Heritage provides capital and unique growth opportunities to businesses that improve the delivery of healthcare services. The firm’s strategic partners represent a diverse group of the nation’s leading healthcare organizations, including 9 health systems that account for over 600 acute care facilities and $85B in net patient revenue. For more information, visit HeritageGroupUSA.com.