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Flare Capital Raises $200M to Invest in Healthcare Technology and
Announces Addition of New Team Members
BOSTON — April 29, 2015 — Flare Capital Partners, a healthcare technology
venture capital firm, today unveiled its first fund under the new Flare Capital
brand. This new fund is one of the largest dedicated healthcare technology
venture capital investment funds raised to date. Flare Capital, previously known
as Foundation Medical Partners, will continue to manage three Foundation
Medical Partners’ funds.
In addition, Flare Capital has announced the appointment of Kristen Laguerre as
Partner and Chief Financial Officer. Kristen joins the Flare team with more than
15 years of financial leadership and management experience in the investment
industry, most recently as Partner and CFO at Atlas Venture and previously VP
Finance at SoftBank Capital. Additionally, Dr. Dan Gebremedhin joins the team
as a Senior Associate from Harvard Pilgrim Health Plan where he was the
Associate Medical Director focusing on population health and medical informatics
solutions.
“It has been incredibly gratifying to see the firm scale and successfully invest in a
number of innovative healthcare companies over the last dozen years, as
evidenced by the recent sale of Explorys to IBM, which was a company originally
spun-out of the Cleveland Clinic and backed by the firm. Flare Capital is wellpositioned for the upcoming decade of profound transformation in the business of
healthcare,” observed Steve Glass, Chief Financial Officer of the Cleveland
Clinic.
The healthcare delivery system continues to rapidly evolve as providers seek
better clinical outcomes at lower costs, payers develop novel payment and
wellness engagement solutions, and patients become proactive healthcare
consumers. This shift is driving the demand for innovative delivery models
incorporating mobility and advanced analytics. Flare Capital’s investment team is
focused on transformational technologies and services that enable value-based
healthcare and leverage mobile-based 24/7 solutions, big data and analytics
technologies.
Led by General Partners Bill Geary, Michael Greeley and Lee Wrubel, Flare
Capital draws extensively on its wide, differentiated and unparalleled network of
specialized resources at the country's leading healthcare industry organizations
and academic institutions. The team brings deep venture capital and proven
healthcare technology domain expertise to its investing activities.
“We were attracted to the Flare Capital opportunity given the team’s depth of
successful investment experience and the proven ability to finance and build
leading healthcare technology companies. There is a real opportunity for venturebacked technology solutions to take charge of this industry, solve real healthcare
business problems, and generate superior investment returns,” stated Phil
Rotner, Chief Investment Officer of Boston Children’s Hospital.
Flare Capital has made three investments out of the new fund, including Iora
Health, Predilytics and Valence Health. Additionally, the firm has made an
investment in Rock Health's most recent seed fund, extending its reach and
forming an important partnership to further focus on the launch of the industry's
most innovative early-stage companies and entrepreneurs.
“Iora is building the next generation of primary care models. We were excited to
partner with the Flare team and have been impressed by their depth of industry
expertise and relevant networks that will be helpful as we rapidly scale the
company. As a healthcare technology entrepreneur I have been impressed with
the firm’s total commitment to help us succeed,” commented Dr. Rushika
Fernandopulle, CEO and founder of Iora Health.
About Flare Capital
Flare Capital is a team of proven healthcare technology venture capital investors
known for their unparalleled strategic industry resources, insight and total
commitment to the success of the entrepreneurs. Flare Capital specializes in
early stage and growth equity investments in healthcare technology innovation
providing leadership, support, and strategic resources at every phase of a
company's development. The firm manages approximately $400 million and is
based in Boston. www.flarecapital.com
Media Contact:
Kim Pegnato
[email protected]
781-620-0016