Leader in dialysis risk management and cost containment poised for accelerated growth and service offering expansion
PHOENIX, AZ & SAN FRANCISCO, CA (March 3, 2021) – Carrick Capital Partners (Carrick), a growth-oriented investment firm focused on software and software-enabled businesses with more than $1B in assets under management has made a significant investment in Renalogic, the industry leader in dialysis risk management and cost containment.
Renalogic has grown rapidly in recent years as rising healthcare costs associated with chronic kidney disease (CKD) have become increasingly painful for employers. Renalogic takes a holistic approach to reducing risk associated with CKD, offering proven intervention for plans’ highest risk population, member education, patient advocacy, and dialysis cost containment. Renalogic recently launched an innovative predictive modeling and artificial intelligence platform, CareINSIGHTS.ai that enhances their high-touch, personalized intervention. Their ability to proactively address previously hidden CKD risk is a welcomed change to an industry that has struggled to reduce massive claims costs. Renalogic delivers better health outcomes and significant savings for dialysis costs with substantially less risk than traditional multiple-of-Medicare reference-based pricing.
The deal represents a major new investment in the category of health solution providers to the self-funded market and reflects Carrick’s thesis that self-funded employers, particularly in the mid-market, will increasingly explore innovative approaches to cost containment and risk management to combat rising PPO costs. Carrick’s interest in Renalogic and CKD cost containment builds upon its prior healthcare investments in Accolade, InstaMed, and Discovery Healthcare Partners.
“Renalogic has demonstrated the ability to maximize employer savings while minimizing employee abrasion for managing CKD, which is among the most relevant and contentious disease states for cost containment in healthcare,” explained Managing Director Chris Wenner.
“We look forward to working with the talented team at Renalogic to build on their market leading position in dialysis by expanding their service offerings to help self-funded employers and stop-loss carriers manage catastrophic risk,” continued Wenner.
Renalogic CEO Lisa Moody added “Renalogic has experienced unprecedented growth over the last three years by helping health plans and their members reduce risk associated with Chronic Kidney Disease,” Moody said. “Carrick’s expertise in the healthcare space combined with their focus on, software, tech-enabled businesses make them uniquely qualified to help broaden our mission-driven business. With this partnership, we can scale our business to provide support to our growing number of clients.”
As part of the transaction, Managing Directors Steve Unterberger and Chris Wenner of Carrick Capital Partners will join Lisa Moody on the Renalogic Board of Directors.
Covington, LLC served as exclusive financial advisor to Renalogic in this transaction.
About Carrick Capital Partners
Headquartered in San Francisco and Newport Beach, Carrick Capital Partners is a growth-oriented investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast-growing, technology-enabled businesses. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Leveraging decades of experience, Carrick helps scale great companies that deliver excellent returns for investors, stimulating economic growth and positively impacting the industry landscape. Working directly with CEOs and entrepreneurs, Carrick fulfills a vital need for investment capital and growth expertise. For more information, please visit http://www.carrickcapitalpartners.com/.