Health Cloud Initiative aims to ease administrative burden of 20,000 healthcare providers with capital injection from Vortex
Amsterdam, June 13, 2022 - Software labels for the mental health and paramedical care sector Incura and CRS will continue together in the Health Cloud Initiative (HCI) platform thanks to a capital injection from Vortex Capital Partners. Using a buy-and-build strategy, the new group aims to grow faster and achieve a qualitative consolidation. With this, HCI wants to fulfill the need for innovation of healthcare providers and, as a forerunner, respond to continuously changing laws and regulations in healthcare. It is Vortex's first investment in software for the healthcare sector.
Health Cloud Initiative was born from the vision to increase innovative strength by combining the strengths of various labels. Healthcare providers in the mental health and paramedical care sector can thus be relieved to the maximum extent possible.
Eric de Boer is initiator of HCI and founder of Incura. He started the Incura label from personal motives, because he saw the problems his wife -a speech therapist- was running into. "In the Netherlands, an average of 30% of caregivers' time is spent on administration, while the pressure on care is increasing. Everyone is feeling the pressure of constantly changing laws and regulations. Within Health Cloud Initiative, the main objective is to uncomplicate care through unambiguous software while minimizing administrative burdens. In this way, we can help reduce waiting lists in healthcare and enable healthcare providers to give more attention to patient treatment. In doing so, we are making healthcare in the Netherlands better."
Currently, more than 7,500 healthcare providers work with Health Cloud Initiative products every day. Together they submit more than 500 million euros in claims per year. HCI, with a team of more than 45 passionate employees, has built the platform which has now been used by more than 2 million Dutch patients.
HCI's first milestone in the coming years is to unburden 20,000 healthcare providers by minimizing administrative operations. Through a buy-and-build strategy, the group aims to accelerate the creation of this targeted scale. In the past year, HCI has completed 4 acquisitions. In addition to Incura and CRS, these included the acquisition of customer portfolios of two software companies.
HCI serves a wide range of disciplines and is now a market leader in the private mental health and paramedical fields such as speech therapy. In addition, HCI is experiencing strong growth in large practices and institutions. Easy administration and new functionalities for healthcare providers in the mental health and paramedical fields (physical therapy, remedial therapy, speech therapy, occupational therapy and dietetics) are important to continue providing quality care. The need for multidisciplinary collaboration between healthcare providers is also growing, which the HCI platform facilitates in an innovative way.
Joost Moerland of Vortex Capital Partners said, "The investment in Health Cloud Initiative is our first investment in healthcare software, a sector we have been watching with great interest for some time. We strongly associate ourselves with Eric's vision to create scale with this initiative to deliver future-proof software that will facilitate more efficient care. The benefits of joining forces for the member labels are already well visible. We look forward to HCI's continued growth steps with great confidence and enthusiasm."
About Vortex Capital Partners
Vortex Capital Partners is a specialized investment company focused on software, Internet and tech-driven companies. The investment fund focuses on small and medium-sized Benelux-based companies with high growth potential. The team combines broad entrepreneurial experience with deep technical expertise to support ambitious entrepreneurs and management teams as active partners in realizing their growth ambitions. During the past 10 years, Vortex has made more than 20 platform investments with more than 25 follow-on investments using this strategy.