IBM Acquires Explorys

NASHVILLE, Tenn., April 17 — Explorys, a portfolio company of venture capital firm Heritage Group, has been acquired by IBM in an agreement signed April 13.

In May 2012, big data company Explorys received a significant investment from the Heritage Healthcare Innovation Fund, a $167 million strategic venture fund that invests in businesses that reduce healthcare costs, improve outcomes and increase the efficiency of delivery.

“The Heritage Healthcare Innovation Fund invests in solutions addressing the myriad challenges and opportunities associated with healthcare reform,” said Heritage Managing Director David McClellan, who serves on the Board of Directors of Explorys. “As the focus of healthcare shifts from volume to value, we believe technology and big data are major tenets of the future of healthcare. Explorys is well-positioned for success, and we’re very excited for them as they take this next step.”

“From the inception of our company, it has been our vision to unlock the power of big data to improve healthcare for all, and our growth over the last three years has catalyzed that vision into becoming a reality,” said Explorys CEO and Co-Founder Stephen McHale. “We are grateful for the investment and strategic guidance provided by our partners at the Heritage Healthcare Innovation Fund. It has been truly invaluable in bringing us to today’s milestone.”

The unique structure of the Innovation Fund allows its strategic partners – which include an impressive array of healthcare providers, payers and suppliers – to collaborate on new ideas, promote companies that have proven value and participate in their commercial success.

“Explorys’ success reflects the strength of the Innovation Fund’s investment philosophy, where healthcare providers are investing in solutions to improve care delivery,” said Joy Grosser, Vice President and Chief Information Officer at UnityPoint Health, one of Explorys’ healthcare partners. “The Innovation Fund is truly leading the way and championing innovation that will make healthcare better.”