In a recent news release, Clinicient Inc reports that it has received $15 million in Series C funding from Catalyst Investors, a growth equity firm.
Jim Plymale, president and chief growth officer, states that in a healthcare economy that requires innovative solutions to document patient care and deliver value in the midst of regulation and utilization management pressure from payers, “The additional capital enables us to expand our platform and follow-through on our commitment to providing therapy business with solutions necessary to thrive while adjusting processes to comply with healthcare reform.”
The company has also tapped Rick Jung as its new chairman and CEO. Clinicient adds that Todd Clapp and Ryan McNally of Catalyst Investors have joined its Board of Directors. The company notes that its new CEO served on Clinicient’s Board of Directors for 6 years and holds a deep understanding of the specialized business and vertical sector.
Jung has 25 years of experience working in healthcare services and extensive revenue cycle management expertise. He previously served in senior management positions at US Healthcare (acquired by Aetna), Medsphere Inc, an open source EHR company, and athenahealth, Inc, where Clinicient says he helped pioneer cloud-based revenue cycle management solutions.
Jung emphasizes that he looks forward, “to building on the fantastic work Jim has done, increasing our client base to assist more outpatient therapy businesses so they can focus their valuable resources on patient care.”
Clapp, partner at Catalyst Investors, adds that Catalyst also looks forward, “to working with the Clincient team and helping with the continued expansion of the business.”