Louisville-based Edumedics Completes $9.5 Million Series A Financing; Announces Bruce Lunsford as Board Chairman and Rebrands as SentryHealth

an innovative Louisville-based healthcare company formerly known as
Edumedics, announced today the completion of a $9.5 million Series A
financing, the naming of noted healthcare investor and business leader
Bruce Lunsford as chairman of its board of managers, and its recent
rebranding as SentryHealth. The company announced in December 2015 the
closing of the first $4.2M of the Series A. Today’s announcement of an
additional $5.3M brings the total Series A to $9.5M.

The Series A round was led by Lunsford Capital, LLC, a private
investment company founded in Louisville by Bruce Lunsford. The round
was syndicated by a group of funds and angel investors geographically
dispersed in the Eastern US. Chicago-based OCA Ventures participated in
the round, and their General Partner Bob Saunders is an observer to the
company’s board of managers. Other participants in the round
include Chrysalis Ventures’ co-founder Doug Cobb, and Blue & Co.
partners Dale Skaggs and Mike Stigler.

Newly appointed board chairman Bruce Lunsford first joined the Edumedics
board in October 2015. He is the former Chairman and CEO of Ventas,
Inc., a healthcare real estate investment company (REIT) that became one
of the largest healthcare real estate investment trusts in the United
States, listed on the New York Stock Exchange (NYSE). Lunsford is
currently the Chairman of Arcadia Communities, LLC, a Louisville-based
real estate development company, which specializes in senior living
communities. Also, joining the company’s board of managers is angel
investor and IBM veteran Jack Danehy. Danehy’s investments over the past
two decades have included Telapoint (acquired by Wright Express in 2007)
and Zirmed (acquired by Bain and merged with Navicure in 2017).

According to SentryHealth CEO Alice Shade, “We are delighted to close
this important capital raise, and to welcome Mr. Lunsford and Mr. Danehy
to our board. SentryHealth will use the growth capital to accelerate our
expansion into states beyond our core populations in the Midwest.”

SentryHealth delivers world-class care to the workplace on behalf of
employers seeking to improve the health of employees and their
dependents while reducing medical, pharmacy, disability and workers’
compensation costs for their employers. Care is delivered at the
worksite, at a near-site clinic, or remotely via telehealth following a
proactive, programmatic approach to member outreach combined with
personalized care delivered by mid-level practitioners.

According to Shade, “SentryHealth has proven that there’s a better way
to deliver healthcare services, one that has measurable engagement,
quality and cost improvement with recent quarterly results showing
client savings exceeding 40% among program participants with chronic
diseases. We bridge the gap between primary care and employer health
program offerings, and with industry-best participation rates, we
consistently drive double-digit cost reductions.”

People with chronic diseases – obesity, diabetes, COPD and hypertension
– typically account for up to 75% of an employer’s medical costs because
employees with chronic diseases are often unable to effectively manage
their conditions over the long-run, resulting in complications such as
kidney failure and heart disease. SentryHealth works directly with this
group to improve health outcomes and drive significant savings for

“I am very impressed with the results the SentryHealth team has
delivered for its clients—they are breaking new ground with their
proactive approach to care for those who have chronic conditions and are
also providing a solid ROI for their clients,” added Lunsford. “Through
a combination of evidence-based protocols and patient education, all
supported by their proprietary technology platform Healthward™, the
company is driving accountability and measurable health improvement
among its members.”

The Healthward technology platform uses proprietary algorithms
and program elements to identify members with a chronic disease and
those at-risk of imminently developing one. It orchestrates the outreach
and engagement efforts needed to activate at-risk employees and keep
them engaged. On the care delivery side, Healthward ensures adherence to
SentryHealth’s evidence-based clinical protocols that have proven so

“We chose SentryHealth for our new name as a symbol of our vigilance and
dedication to protecting and improving the health and well-being of our
client’s employees and their dependents,” added Shade. “What doesn’t
change is our deep commitment to providing an exceptional care
experience, or our dedication to delighting our clients.”

The company was founded in 2010 by Alice Shade and Dr. Richard
Goldstein. While working at physician services company UPA Services and
the University of Louisville respectively, the founders recognized that
employees with chronic conditions often account for a disproportionate
percentage of a company’s medical costs, yet often did not receive the
necessary and appropriate care to best manage their condition. They
developed the initial Intellectual Property while working on the problem
for U of L’s employees, and later licensed the technology and spun out
the company to deliver care to other populations.

Mark Crane, a Louisville-based health care executive and former E&Y
Entrepreneur of the Year, joined SentryHealth as COO in August 2014 and
helped lead the company’s $9.5 million Series A financing. Crane worked
closely with Louisville-based Venture First to identify and secure the
group of investors.

About SentryHealth: SentryHealth’s mission is to improve the
health of employees and covered dependents while reducing medical,
pharmacy, and disability costs for their employers. SentryHealth’s
onsite employee health services feature a lower-cost care delivery model
led by highly trained mid-level practitioners.

Learn more at www.SentryHealth.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005624/en/

Leave a Comment