Oak HC/FT Investment Reinforces the Opportunity for Technology to Improve Behavioral Health Care Delivery
New York, NY (April 2, 2015)–Quartet Health, Inc., a New York-based technology company, has raised $7 million in new funding. The investment was led by Annie Lamont at Oak HC/FTwith participation from Shulman Ventures, Fidelity Biosciences, Polaris Partners and a number of leading current and former industry CEOs who are serving as advisors to the company.
Annie Lamont, Managing Partner at Oak HC/FT, joins Steve Shulman, former CEO of Magellan Health and Prudential Healthcare, and Quartet Health’s CEO, Arun Gupta, on the Board of Directors. Annie is ranked the number one healthcare investor on the Forbes Midas List and has previously backed companies such as Castlight Health (IPO 2014), Benefitfocus (IPO 2013), and Athenahealth (IPO 2007).
Quartet Health was launched in 2014 by Arun Gupta and Steve Shulman. The company has developed a secure, cloud-based technology platform that addresses the problem of access to behavioral health care resources. Quartet’s platform allows medical and behavioral health clinicians to work collaboratively on shared treatment goals, while giving patients access to technology-enabled care. The platform is backed by sophisticated data science tools that give health insurers and provider systems population health insight on gaps in care, provider network quality, and utilization patterns driven by behavioral/medical comorbidities.
“Access to high-quality behavioral healthcare is a profoundly important issue and I’m excited to support a company that is leading the charge toward a better model,” said Lamont. “There is a huge opportunity for innovation in this space, and better integration of behavioral and medical health will benefit health plans, providers, and most importantly the patient.”
The financing will enable Quartet to expand its product offering as well as add key healthcare operators, technologists, and behavioral health thought leaders to its team.
About Quartet Health
Quartet Health is a behavioral health technology company. Our suite of products enables a proven model that integrates care for patients with chronic medical and behavioral health conditions. By aligning a quartet of key stakeholders – patients, behavioral health clinicians, medical providers, and payors – we are delivering improved outcomes that also lower total cost of care. We are committed to a clinician-led quality improvement effort that makes healthcare work better.
About Oak HC/FT Partners
Oak HC/FT (http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is led by the Healthcare and FinTech team of Oak Investment Partners as part of Oak’s strategy to develop sector-specific funds and continue its legacy of building best-in-class businesses.