Funds will accelerate VisiQuate’s growth and innovative plans to automate the revenue cycle and dramatically reduce administrative waste in the healthcare system.
VisiQuate, Inc., the leading provider of advanced analytics and AI-powered automation offerings to America’s most respected healthcare providers, today announced a new $50 million equity investment from Sixth Street Growth.
“We consider tackling the nearly trillion dollars of administrative waste in healthcare as a moral imperative. To fuel that vision, we are partnering and collaborating with Sixth Street, who is well aligned with our vision,” said Brian Robertson, VisiQuate Founder & CEO. “Our mission is to help health care providers dramatically improve clinical, financial and operational outcomes. Sixth Street’s deep capital, wide-ranging expertise, and stellar reputation in the healthcare industry make them ideal partners to help us fulfill our mission and vision.”
Recognized for its groundbreaking automated data assistant, Ana, VisiQuate understands there is little value in using automation to merely replicate human activity. Instead, the software and consulting company focuses on Intelligent Process Automation, first analyzing and retooling each client’s unique processes to take full advantage of the power of the human + machine combination. VisiQuate’s artificial intelligence (AI) and machine learning (ML) make it possible for the entire system to continuously self-monitor and correct for revenue cycle anomalies that erode hospital margins. This approach reduces waste and increases yield, with an even shorter time to revenue.
“We look forward to supporting Brian and the VisiQuate team as they continue to build analytics solutions for healthcare providers that are both more advanced and easier to use,” said Bo Stanley, Partner and Co-Head of Sixth Street Growth. “Informed by their crowdsourced AI and ML capabilities, VisiQuate’s enterprise class offerings and advanced data integration technologies make it possible for providers to dramatically reduce cost, increase yield, and improve time to revenue. We are excited to partner with them as they enter their next phase of growth and continue to lead the advanced analytics and intelligent process automation field.”
In related news, Lee Mooney at Sixth Street will join VisiQuate’s Board of Directors. Canaccord Genuity LLC acted as exclusive financial adviser to VisiQuate, while Paul Hastings LLP served as legal adviser. Goodwin Procter LLP served as legal adviser to Sixth Street Growth.
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