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September 16, 2014 01:00 AM

Privia Health secures $400 million for national expansion

Beth Kutscher
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    Privia Health, which provides practice-management tools to independent physician practices, has secured $400 million in new funding that will allow it to launch a nationwide expansion strategy.

    The Arlington, Va.-based technology company secured the funds from an affiliate of Goldman Sachs and other investors that together will back a holding company, Brighton Health Group. The group could acquire other companies with complementary technologies, said Jeff Butler, Privia's founder and CEO.

    Privia's aim is to give physician groups the resources they need for population health management, including access to data, analytics and electronic health records. Buying each of these technologies separately would otherwise require a sizable investment.

    While health systems are rapidly gobbling up doctor practices, Privia offers another way for physicians to operate in the new healthcare environment without having to give up their independence, Butler said.

    The company allows doctors to partner with managed-care organizations and self-insured health plans to participate in accountable care organizations.

    The funding will allow it to expand in its current markets in the District of Columbia, Virginia and Maryland as well as in New York, Atlanta, Florida and Texas.

    Follow Beth Kutscher on Twitter: @MHbkutscher

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        • Diversity in Healthcare
          • - Luminaries
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        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
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        • ESG: The Implementation Imperative Summit
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        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
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        • Health Care Hall of Fame Gala
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      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
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      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
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      • Hospital Financials
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