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Investments

21

Portfolio Exits

2

Funds

2

Partners & Customers

1

About Frist Cressey Ventures

Frist Cressey Ventures is focused on accelerating the growth of high potential healthcare enterprises through value-added partnerships. The firm invests in technology and service businesses with viable solutions that improve quality of care, system integration, patient outcomes, and population health and wellbeing.

Frist Cressey Ventures Headquarter Location

40 Burton Hills Boulevard Suite 370

Nashville, Tennessee, 37215,

United States

615-933-6889

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Latest Frist Cressey Ventures News

DexCare Closes $50M Series B Funding Led by Transformation Capital to Advance Its Digital Care Operating System

Jan 14, 2022

DexCare Closes $50M Series B Funding Led by Transformation Capital to Advance Its Digital Care Operating System SEATTLE, January 13, 2022-- DexCare, Inc., a data-driven intelligence company focused on healthcare access, today announced a $50M Series B funding led by Transformation Capital, with participation from all existing investors, Kaiser Permanente, Providence Ventures, Mass General Brigham, Define Ventures, Frist Cressey Ventures, and SpringRock Ventures. In less than one year, DexCare has closed two oversubscribed funding rounds totaling $71M to-date. “Hospitals are moving to hybrid care and need a single solution to attract new patients and to connect them both virtually and in-person with their own caregivers,” said Derek Streat, Co-founder and CEO of DexCare. “This investment will help us accelerate platform development and go-to-market progress for our growing number of premier health systems such as Kaiser Permanente, Providence, Mass General Brigham, CHS, Houston Methodist and others. Transformation Capital’s digital health focus will help us achieve these goals along with our current line-up of top healthcare-focused partners.” “DexCare brings a comprehensive patient access and intake platform to health systems,” said Todd Cozzens, Co-founder and Managing Partner at Transformation Capital. “Competition for patients is a major issue in 2022 for hospitals. DexCare’s integration with social media drives access to new patients, books an immediate televisit with specialist care providers and secures virtual and in-person appointments and follow-up maximizing the health system’s own providers. A must-have tool in our new world of hybrid care.” DexCare is a Platform-as-a-Service (PaaS) for health systems that intelligently orchestrates digital demand and health system capacity. DexCare has developed an enterprise-grade real-time demand aggregation and appointment booking platform across all lines of care. Health systems across the country have implemented DexCare to expand access to care in more intelligent and data-driven ways that meet the needs of patients while achieving a more balanced and operationally efficient utilization of their resources. In 2021, DexCare expanded its platform to power access across a variety of applications including: • Health systems: large, national health systems, mid-sized regionals, and academic centers • Care modalities: video, phone, in-person, on-demand, scheduled • Service lines: same-day care, urgent care, primary care, specialty care The new funds will be used to support and accelerate DexCare’s growth with investments in product and technology innovation, customer experience, and recruiting world class talent. The funding also enables DexCare to meet customer demand to expand into additional new service lines and care modalities. “We understand the impact of the DexCare solution to expand access for digitally-enabled care in a manner that balances and optimizes demand with provider availability. We are excited to invest in DexCare as we believe it addresses a pressing and persistent need for health systems,” said Liz Rockett, Managing Director, Kaiser Permanente Ventures. The latest round of funding comes amid a COVID-driven ‘great awakening’ that recognizes the value of consumer-facing health technologies in delivering high quality, affordable, on-demand care. With DexCare’s technology, the combination of focused digital health applications and interoperable operating systems will unlock significant opportunities to deliver targeted, cost-effective, personalized care that produces optimal outcomes for all parties involved. “DexCare was essential in digitally transforming our ambulatory care model to better serve the needs of patients and was also a key part of Providence’s digital response to COVID,” said Aaron Martin, Executive Vice President and Chief Digital Officer, Providence. “We’re excited that the platform incubated by the Digital Innovation Group, and that has added so much value to Providence over several years, is seeing such an enthusiastic reception from other health systems. We’re looking forward to the innovations the DexCare team will deliver to customers as a result of this latest fundraise.” About DexCare DexCare is a Platform-as-a-Service (PaaS) for health systems that intelligently orchestrates digital demand and health system capacity across all lines of care. In a complex and vast sea of virtual point solutions, DexCare is the operating system that makes it all work. DexCare's data-driven intelligence engine allocates, flexes and optimizes resources to best meet both consumer demand and health system business goals—expanding the reach of health system service lines into a new, digital and on-demand consumer arena. The platform attracts and caters to high-value consumers by providing a fully-digitized, unified experience that routes consumers to the best care options while leveraging existing EMR, caregiver and brand investments. Incubated at Providence, one of the nation's largest and most innovative health systems, DexCare has enabled service lines to attract 30% more new patients, capture 5x downstream revenue, generate 22% per patient encounter in costs savings, and deliver a net promoter satisfaction score greater than 90. DexCare customers include leading health systems across the U.S. For more information, visit dexcarehealth.com or follow us on LinkedIn. Contact:

Frist Cressey Ventures Investments

21 Investments

Frist Cressey Ventures has made 21 investments. Their latest investment was in DexCare as part of their Series B on January 1, 2022.

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Frist Cressey Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/13/2022

Series B

DexCare

$50M

No

8

10/12/2021

Series A

Oshi Health

$23M

Yes

4

10/8/2021

Series D

Devoted Health

$1,150M

Yes

4

10/5/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

7/2/2021

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

1/13/2022

10/12/2021

10/8/2021

10/5/2021

7/2/2021

Round

Series B

Series A

Series D

Seed VC

Series A

Company

DexCare

Oshi Health

Devoted Health

Subscribe to see more

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Amount

$50M

$23M

$1,150M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

8

4

4

10

10

Frist Cressey Ventures Portfolio Exits

2 Portfolio Exits

Frist Cressey Ventures has 2 portfolio exits. Their latest portfolio exit was Valify on January 10, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/10/2020

Acquired

2

12/10/2019

Merger

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10

Date

1/10/2020

12/10/2019

Exit

Acquired

Merger

Companies

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Valuation

Acquirer

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Sources

2

10

Frist Cressey Ventures Fund History

2 Fund Histories

Frist Cressey Ventures has 2 funds, including Frist Cressey Ventures Fund II QP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/13/2019

Frist Cressey Ventures Fund II QP

$62.05M

1

12/11/2018

Frist Cressey Ventures Fund II

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$99M

10

Closing Date

5/13/2019

12/11/2018

Fund

Frist Cressey Ventures Fund II QP

Frist Cressey Ventures Fund II

Fund Type

Subscribe to see more

Status

Subscribe to see more

Amount

$62.05M

$99M

Sources

1

10

Frist Cressey Ventures Partners & Customers

1 Partners and customers

Frist Cressey Ventures has 1 strategic partners and customers. Frist Cressey Ventures recently partnered with HITRUST Alliance on December 12, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

12/16/2019

Partner

HITRUST Alliance

United States

HITRUST and Frist Cressey Ventures form the Venture Capital Advisory Council and Venture Program

HITRUST , a leading data protection standards development and certification organization , announced a collaboration with Frist Cressey Ventures to form the Venture Capital Advisory Council and Venture Program , comprised of some of the most influential venture capital firms .

2

Date

12/16/2019

Type

Partner

Business Partner

HITRUST Alliance

Country

United States

News Snippet

HITRUST and Frist Cressey Ventures form the Venture Capital Advisory Council and Venture Program

HITRUST , a leading data protection standards development and certification organization , announced a collaboration with Frist Cressey Ventures to form the Venture Capital Advisory Council and Venture Program , comprised of some of the most influential venture capital firms .

Sources

2

Frist Cressey Ventures Team

2 Team Members

Frist Cressey Ventures has 2 team members, including current Founding Partner, Bryan Cressey.

Name

Work History

Title

Status

Bill Frist

Aspire Health, Vanderbilt University, United States Senate, and Massachusetts General Hospital

Founder

Current

Bryan Cressey

Founding Partner

Current

Name

Bill Frist

Bryan Cressey

Work History

Aspire Health, Vanderbilt University, United States Senate, and Massachusetts General Hospital

Title

Founder

Founding Partner

Status

Current

Current

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