November 16, 2018
Bardavon Health Innovations LLC today announced $15 million in new financing led by NewRoad Capital Partners, based in Northwest Arkansas.
Founded in 2014, Bardavon is the leading physical medicine clinical analytics platform for Workers’ Compensation. Bardavon has experienced exponential growth as an innovative and welcomed replacement to existing “cost containment” network programs. Currently in 21 states, this funding fuels Bardavon’s nationwide expansion into every community in the country.
“As with so much in life, timing is everything. Our national expansion is coming at a time when Employers across the country are recognizing that they must play a lead role in the transformation of healthcare. Initiatives, such as the June 2018 announcement between Amazon-Berkshire-JP Morgan demonstrate that Employers are increasingly committed to addressing healthcare costs through the use of data and analytics. Bardavon has been collecting meaningful data with its bNOTES® software and supporting clinics in achieving quality outcomes for the Workers’ Compensation marketplace since our inception,” said founder and CEO Matthew Condon. “This investment confirms that change is coming to healthcare, that Workers’ Compensation programs will help catalyze the transformation to quality-based medicine, and that Bardavon is well-positioned to lead that charge.”
“Having followed Bardavon’s progress for three years and observed the breakthrough results in quality outcomes they have achieved with national employers, we are excited to be the lead investor that fuels their national expansion,” said Clete Brewer, Managing Partner of NewRoad Capital Partners. “We believe that Bardavon is poised for explosive growth.”
“Bardavon is focused on dramatically improving health outcomes and has developed the cloud-based technologies, best practices and network to deliver on that promise. Cost containment strategies of the past simply have not worked. We spend more each year on healthcare yet are less satisfied with the experience and outcome. Bardavon is changing that. Our data-driven solutions and clinical expertise optimize care for each injured worker, enable the provider community to compete on quality, and improve the productivity of the workforce for our employers,” said Paul Morris, COO of Bardavon. “This strategic partnership and alignment with Bardavon’s mission positions us to accelerate our growth and truly impact the national marketplace,” added Morris.
Matthew Condon, JD/MBA, CEO, Founder Bardavon Health Innovations, LLC
Barbara Riedel, MBA, Marketing Director Bardavon Health Innovations, LLC
Bardavon Health Innovations, LLC, located in Overland Park, KS, is a venture-backed, cloud-based clinical intelligence and analytics company steeped in 15 years of data-driven Workers’ Compensation best practices. Bardavon provides Employers and Payors with near-real time data to measure the quality of care, streamline workflows and processes and apply big data analytics to optimize clinical pathways for all musculoskeletal care, including Workers’ Compensation and commercial health programs.
About NewRoad Capital Partners
NewRoad Capital Partners, LLC, is an investment firm based in Rogers, AR, that invests in proven and innovative technologies, products, and services that serve existing, unmet needs in the marketplace. NewRoad focuses on investing in and acquiring demand-driven businesses in the Retail and CPG, Business Services, and Consumer-Facing Healthcare industries.
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