NASHVILLE, Tenn.--(BUSINESS WIRE)--Relode, an online healthcare recruitment platform providing peer-sourced clinical recruitment, announced today it has acquired strategic capital financing to accelerate growth. Heritage Group, a Nashville-based, healthcare-focused, growth equity firm, led the financing. Also joining the financing round was Nashville-based Frist Cressey Ventures.
Relode currently offers permanent nurse and clinical leadership staffing services. The company will use a portion of the new funds to complete the inclusion of a virtual locum staffing platform and will begin to offer on-demand locum tenens and permanent placement of physicians, physician assistants and nurse practitioners to healthcare facilities, health systems, urgent care providers and payers across the United States.
“We created Relode as a healthier approach to healthcare employment,” said Matthew Tant, Relode’s founder and CEO. “It’s simple: We reward good people to assist in finding other good people for the best jobs in healthcare. This saves time and money while optimizing employment opportunities. It’s one platform that works equally well for employers, employees – and ultimately the patients they care for.”
Relode leverages technology to distribute, organize and connect healthcare employers directly to the best healthcare professionals, eliminating the need for a third-party agency. The network consists of more than 20,000 healthcare professionals and clinicians – thousands of whom have signed up to become virtual agents. Relode connects agents and their networks directly to permanent and temporary healthcare job opportunities, rewarding those agents with financial commissions similar to a recruiter, absent agency overhead. As a result, Relode is saving its clients nearly 50 percent on permanent hires and 10 percent or more on temporary staffing. That ultimately frees up more resources to re-invest in patient care.
“Prior to the creation of Relode, healthcare employers were paying a premium of nearly 20 percent to 25 percent of the first-year salary for permanent searches,” said Joe Christopher, Relode’s CTO and co-founder. “With more than 2,000 firms competing for market share and no changes to the model for decades, Relode is well positioned to create a new standard of value, service and innovation.”
He added that the Heritage partnership will allow Relode to accelerate growth, complete the new brand and rapidly expand the technology investments.
“We’re excited to partner with Relode in its next phase of growth,” said Jesse Bland, principal at Heritage Group. “The company’s value proposition is driven by its experienced team and differentiated solution to a major pain point in healthcare.”
Since its launch in 2015, Relode has helped some of the top employers in healthcare fill their toughest clinical positions with a savings of nearly 50 percent through its crowd-sourced platform. Rapid adoption by healthcare providers, systems, home health, urgent care, correctional medicine and payer services is fueling substantial growth in a market where there is already over $20 billion spent on staffing services annually in the U.S.
About Relode
Relode is a Brentwood, TN-based healthcare recruitment platform focused on providing peer-sourced clinical recruitment that connects the best healthcare professionals to the best jobs. Relode was founded by Matthew Tant, a staffing industry veteran, and technology executive Joe Christopher.
About Heritage Group
Heritage Group has more than 30 years of experience financing and operating healthcare companies at all stages. With $400 million under management, Heritage provides capital and unique growth opportunities to businesses that improve the delivery of healthcare services. The firm’s strategic partners operate more than 500 hospitals with 90,000 beds and employ approximately 750,000 people. They cover more than 21 million lives under a number of leading health plans, deliver pharmaceuticals and medical products to more than 100,000 locations daily and generate revenues of almost $300 billion.
