Alta Partners is a venture capital firm investing in the healthcare and life sciences sector. Their diverse and integrated team brings together a powerful depth of knowledge and experience, delivering tangible results for their companies and their investors.

Alta Partners

Highmark Ventures is a corporate venture arm of Highmark.

Highmark Ventures

653 Investment Partners is a venture capital investment firm.

653 Investment Partners

Questa Capital Management is a healthcare venture growth equity firm investing in breakout growth companies. Questa seeks out disruptive business models that improve lives and provide better quality and more efficient care. They partner with superior management teams to help build innovative market leaders. Questa Capital Management's mission is to generate outstanding returns for investors and management teams.

Questa Capital Management

Free Market Health

Founded in 2019 and headquartered in Pittsburgh, PA, Free Market Health supports forward-thinking payers and specialty pharmacies of all sizes who need to operate in a complex and opaque market. We empower all stakeholders to optimize resources and maximize opportunities while focusing on the most important stakeholder of all: the patient. Learn more at freemarkethealth.com.

Free Market Health is a healthcare technology company based in Pittsburgh, PA. It provides a cloud-based platform that connects patients requiring specialty medications with the best-fit specialty pharmacies to ensure timely access to their life-saving and life-altering treatments. The platform streamlines the complex process of matching patients with pharmacies, facilitating continuity of care, and generating cost savings for payers.

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Simplifying healthcare resourcing with technology

Healthcare Resourcing Platforms

Ann OBrien on LinkedIn: I'm thrilled to share that I’ve joined Free Market Health as VP, Payer… | 206 comments

Marsh & McLennan

To drive competition among specialty pharmacies, reduce costs, and improve access to high-cost specialty medications for employers and their employees.

Managing employee health-related benefits

Health Benefits Platforms

Enterprise platforms that specialize in helping employees manage their pharmacy- and prescription-related benefits to refill prescriptions or dispense medication for in-store pickup or home delivery

Free Market Health is a healthcare technology company based in Pittsburgh, PA. It provides a cloud-based platform that connects patients requiring specialty medications with the best-fit specialty pharmacies to ensure timely access to their life-saving and life-altering treatments. The platform streamlines the complex process of matching patients with pharmacies, facilitating continuity of care, and generating cost savings for payers.
Free Market Health's care-driven marketplace complements payers' existing processes and vendors, enabling them to match patients with suitable pharmacies systematically. Specialty pharmacies of all sizes gain fair access to payer-authorized specialty medication referrals aligned with their care models and business models. Patients receive optimized care from accountable specialty pharmacies capable of meeting their specific needs.
As of May 2023, Free Market Health's platform had 130 pharmacies and tripled its customer volume over the previous year, including a deal with Highmark launched in July 2021. The company was recognized in the MedTech/Health IT category of the Pittsburgh Technology Council's Tech 50 Awards in December 2022.
In April 2022, Free Market Health raised USD 13.5 million in Series A funding led by Alta Partners, with participation from Highmark Ventures and 653 Investment Partners. The funds were utilized to scale the company's platform.

SnapNurse (now rebranded as SnapCare) is an AI-enabled workforce marketplace that connects healthcare facilities directly with clinicians, including nurses, physicians, and other medical professionals. The company's cloud-based platform streamlines the staffing process, enabling facilities to rapidly source, credential, and onboard qualified healthcare workers within 24-48 hours. This technology-driven approach eliminates the need for traditional staffing agencies, providing significant cost savings of over 15% on core staffing services and potentially exceeding 20% with SnapCare's full suite of offerings.
SnapCare's platform offers a range of services, including permanent placement recruiting, internal float pool management, PRN (pro re nata) staffing, contract local/travel staffing, managed service provider solutions, and talent acquisition services. The company leverages AI and automation to optimize workforce deployment, enabling healthcare facilities to gain visibility into available talent, submit staffing requests, track orders, and access comprehensive workforce analytics.
In October 2023, SnapNurse rebranded as SnapCare, reflecting its commitment to expanding beyond nursing to support a broader range of healthcare clinicians and clients. The rebrand coincided with a nearly 300% increase in technology investments, furthering the development of advanced solutions like predictive staff scheduling optimizations through the strategic acquisition of Medecipher.
SnapCare's disruptive model has gained significant traction, with the company experiencing meteoric growth of 75,000% between March 2020 and March 2021. As of Q1 2021, SnapCare had deployed over 10,000 medical professionals, supported more than 1,000 healthcare facilities, and achieved USD 350 million in revenue through organic growth.

SnapNurse

CareRev is a technology company that has disrupted the healthcare staffing industry by providing a cloud-based platform to connect healthcare facilities with local, pre-qualified nurses, certified nursing assistants (CNAs), medical assistants (MAs), and technicians on demand. The platform enables healthcare organizations to post open shifts, which these professionals can claim instantly through the CareRev mobile app, eliminating the need for traditional staffing agencies.
CareRev's platform streamlines the process of sourcing temporary healthcare staff by automating credentialing, onboarding, and performance monitoring. The company ensures a high-quality talent pool by conducting rigorous vetting processes, including background checks, credential verification, and skill assessments. Facilities can provide real-time feedback on professionals' performance, mark them as "Favorites" for priority access, or flag them as "Do Not Return" if unsatisfied.
CareRev's business model allows healthcare facilities to access a flexible workforce that can rapidly scale up or down based on patient demand. This agile approach enables organizations to optimize staffing levels, reduce reliance on costly travel contracts, and lower overall labor costs. The platform also offers features like "Cascade," which allows organizations to float staff between facilities based on demand.
In addition to serving hospitals and health systems, CareRev supports outpatient centers, skilled nursing facilities, and ambulatory surgery centers across over 32 major metropolitan areas nationwide. As of October 2022, the company had partnerships with over 70 hospitals and health systems and over 540 outpatient centers and skilled nursing facilities. Its network comprises more than 22,000 clinical professionals.

CareRev

Clipboard Health is a healthcare staffing platform that provides an app-based marketplace for matching nurses, nursing assistants, and other healthcare professionals with open shifts at nearby healthcare facilities. The company's app allows healthcare workers to find and book available shifts conveniently, offering flexibility and control over their schedules. For healthcare facilities, the platform addresses staffing challenges by enabling them to fill open shifts as needed, accessing a wider pool of talent.
Clipboard Health's model has seen significant growth, with its gross revenue increasing by a factor of 25 in the 18 months leading up to April 2022. As of that period, the platform served tens of thousands of healthcare professionals and over a thousand facilities across more than 30 US cities, including major metropolitan areas like Los Angeles, Philadelphia, Chicago, and New York. The company aimed to expand its presence to many more cities by the end of 2022.
In February 2022, Clipboard Health secured a USD 30 million Series C funding round led by Sequoia Capital, valuing the company at USD 1.3 billion. This followed a USD 50 million Series B round in 2021 led by IVP. The total funding raised by the company exceeded USD 90 million. These investments were intended to support the company's aggressive hiring plans, including doubling the size of its engineering team and expanding its sales and marketing organizations.

Clipboard Health

Favorite healthcare Staffing is a leading provider of healthcare staffing solutions in the US. The company specializes in offering a comprehensive range of staffing options, including travel nursing, per diem, allied health, non-clinical, and permanent placement opportunities. Favorite healthcare Staffing's services cater to healthcare facilities across the nation, enabling them to access qualified and dependable healthcare professionals to meet their staffing needs.
The company's business model revolves around connecting skilled healthcare talent with employment opportunities at various healthcare providers, such as hospitals, health systems, medical practices, clinics, and other healthcare facilities. Favorite healthcare Staffing prides itself on setting industry standards for quality, service, and integrity within the healthcare staffing sector.
In June 2023, Staffing Industry Analysts, a renowned staffing industry research firm, ranked Favorite healthcare Staffing as the 10th Largest US healthcare Staffing Firm based on its 2022 revenue. Additionally, the company secured impressive positions on other Staffing Industry Analysts lists, including the 8th Largest US Travel Nurse Staffing Firm, the 13th Largest US Per Diem Nurse Staffing Firm, the 13th Largest US Allied healthcare Staffing Firm, and the 17th Fastest-Growing US Staffing Firm.
Key customers and partnerships
Favorite healthcare Staffing has established strong relationships with healthcare facilities nationwide, catering to their diverse staffing needs across various specialties and areas of expertise. The company's client base encompasses top healthcare institutions, medical practices, and healthcare organizations seeking skilled professionals for temporary, contract, or permanent positions.
To streamline the application process for healthcare professionals seeking employment opportunities, Favorite healthcare Staffing has introduced a virtual assistant called "Frankie." This innovative tool guides applicants through the application process, ensuring a hassle-free experience and enabling them to create their profiles efficiently.

Favorite Healthcare Staffing

Aya healthcare is the largest healthcare staffing company in the US. It leverages data-driven technology and digital engagement to operate a managed marketplace that hosts the largest pool of active job seekers for healthcare professionals. Aya's proprietary algorithms enable personalized touchpoints to drive engagement and add transparency, efficiency, and accountability to healthcare systems.
The company's core offerings include travel nursing, allied health staffing, permanent staff hiring, interim leadership, locum tenens staffing, and staffing for non-clinical professionals. In addition to staffing services, Aya provides vendor management, float pool technology, provider recruitment services, and predictive analytics solutions to healthcare organizations.
In November 2023, Aya healthcare acquired Winnow AI, a data science-driven platform that uses artificial intelligence and business intelligence to identify passive physician candidates likely to relocate. The acquisition enables Aya to complement its DocCafe platform, which focuses on active physician job seekers, and offer healthcare organizations comprehensive solutions for both active and passive physician recruitment.
Aya healthcare has established a track record of promoting a positive, welcoming workplace culture for its over 6,000 corporate employees. In September 2022, the company was named to Fortune's list of Best Workplaces in healthcare for the third consecutive year, with 90% of surveyed employees affirming it as a great place to work.

Aya Health

Platforms that connect healthcare organizations with healthcare professionals, such as doctors, nurses, and other clinicians, to fill vacant spots for immediate shifts or temporary assignments

Companies that offer digital platforms automating the procurement process and inventory management of healthcare organizations, including hospitals, clinics, and skilled nursing facilities

Companies that offer integrated workflow solutions for healthcare providers (especially independent practitioners), including online booking, medical billing, and patient management

Companies that offer pharmacy management platforms catering to pharmacies (especially independent pharmacies) to efficiently manage their daily operations. The platforms leverage technologies like AI/ML and are cloud-based

Companies that offer a B2B service to healthcare organizations to train and educate healthcare professionals in specific roles by using various digital means

Offers B2B SaaS platforms that serve healthcare providers and independent practitioners to streamline their businesses

The products/platforms offered by the companies utilize AI/ML in enhancing their offering

All healthcare resourcing solutions are offered via digital platforms that leverage AI/ML or are cloud-based

Free Market Health

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