SALT LAKE CITY--(BUSINESS WIRE)--Central Logic, the leading provider of transfer center and on-call scheduling technology solutions for healthcare systems, closed on a Series C growth equity financing in July led by Iron Gate Capital of Boulder, Colo. and Mercato Partners of Salt Lake City, Utah.
The Series C was put in place to ensure the company meets the market demand for its suite of products. In addition to its market-leading Transfer Center and On Call Scheduling software, Central Logic released two new software modules this year in business intelligence and post-discharge patient communication.
“Central Logic has experienced remarkable growth over the past few years. Its software suite has broadened to address mission critical market needs by hospitals for a truly optimized patient flow: improved efficiency, actionable business insight and intelligence, and lower readmission rates,” said Ryan Pollock, managing partner of Iron Gate Capital. “They are the clear leader in their field and we are excited to be a Central Logic shareholder and partner.”
Used by nearly 500 healthcare customers around the country, Central Logic’s products are built on a cloud-based, SaaS architecture. The company’s solutions, which seamlessly complement other electronic health records technologies, provide integrated, automated reports to uniquely help hospitals gather, track, interpret and provide actionable reporting of real-time data from inside and outside their four walls to increase transfers and reduce patient “leakage.” Central Logic solutions also track post-acute care, enhancing patient satisfaction and lowering readmission.
“We are thrilled to welcome Iron Gate Capital to the Central Logic family. They, along with Mercato Partners, clearly recognize the quality of our product suite as well as our ability to serve the needs of our customers,” said Jennifer Holmes, Central Logic president and CEO. “We are passionate about delivering innovative solutions to improve our clients’ data visibility, thus creating better care for patients and facilitating more efficient health industry decisions. Having the support of these respected equity firms gives us strong backing for our current and future growth plans.”
Hospitals and health systems that use Central Logic Transfer Center have experienced a reduction in patient leakage by an average of 25 percent and an increase in transfer volume by an average of 20 percent. Customers using Central Logic On Call Scheduling have seen scheduling accuracy improve by as much as 20 percent, recapturing an average of more than 180 staff hours per month.
“The return on investment that health systems realize when using Central Logic technology is remarkable,” said Alison Wistner, managing director at Mercato Partners. “We are excited to continue our affiliation with a true industry leader that is enhancing the market with unparalleled innovation. With our latest investment, we are committed to helping Central Logic continue to expand their business and improve the patient experience across the board.”
In 2015, Central Logic strengthened its leadership team by appointing Jennifer Holmes to president and CEO. Holmes, a 28-year healthcare industry veteran, has held executive positions with companies such as MedAssets, EKOS, Guidant Corporation and Boston Scientific. Additionally, the company streamlined its customer service and product innovation and management focus by realigning the responsibilities of its founders. With the new infusion of equity announced today, Ryan Pollock from Iron Gate Capital joins Central Logic’s board of directors.
About Central Logic
As the industry’s leading provider of innovative transfer center and on-call scheduling technology, Central Logic’s team works collaboratively with nearly 500 hospitals and has thousands of healthcare customers or relationships – including physicians, administrators and healthcare staff – to design and implement patient flow software solutions that increase admissions and capacity. Founded in 2005, the company helps hospitals and systems measurably increase the number of patient admissions and patient transfer volumes while maximizing hospital staffing, efficiency and care coordination. For more information, visit www.centrallogic.com.
About Iron Gate Capital
Iron Gate Capital is a unique growth equity investment firm formed by operating executives over a decade ago to invest their own capital in emerging growth companies. Iron Gate represents over 65 HNW and family office investors across the USA and Europe and has completed 25 investments. The group’s operating experience is significant and its networks are broad and deep across multiple industries. Iron Gate seeks to invest $3–10 million in each opportunity and targets companies at an early growth stage, with the potential to triple top line revenue over a three-year period. For more information, visit www.irongatecapital.com.
About Mercato Partners
Mercato Partners is an active growth investor in technology, branded consumer and digital media companies, and is one of the top-performing funds in the nation. Mercato seeks equity investments in high-growth, market-leading businesses and has a distinct competency in helping companies accelerate sales, develop new channels and expand to new markets. For more information, visit www.mercatopartners.com.