Apervita Announces Record Growth Year, Adds to Executive Team
Pioneering Healthcare Platform-as-a-Service Now Connected to Approximately 1,000 Hospitals, Grows Annual Recurring Revenue More Than 1,000%
Apervita, Inc., the nation’s first healthcare cloud platform, today announced that it ended 2018 serving approximately 1,000 hospitals and is on track to support more than 3,000 hospitals by the end of 2019. At the same time, the company has doubled the number of applications built on its platform. This rapid market adoption led to a 1,000% growth in annual recurring revenue for the year ending in December 2018.
Healthcare stakeholders are looking to reduce costs across the board while improving clinical outcomes and operational efficiency. However, maintaining hundreds of separate point IT solutions in support of these cost reduction efforts is hugely costly and ultimately unsustainable. At the same time, government bodies like The Centers for Medicare and Medicaid Services and other industry associations are driving their customers and members to adopt electronic computable specifications.
Apervita’s secure, massively scalable Platform-as-a-Service (PaaS) allows healthcare stakeholders to build, connect and transact in the cloud across three main areas: quality performance, clinical pathways and data sharing. As a result, costs for stakeholders using Apervita are 70-80% less expensive than maintaining numerous point solutions. Additionally, stakeholders have complete control of their information, allowing them to share only what they need to, and avoid technical, business and privacy issues associated with legacy data sharing processes.
“The healthcare industry is at a digital inflection point,” said Apervita President Ken Jakobsen. “All stakeholders are looking to more fully leverage their IT spend and operations. We are leading the transformation effort from individually developed, maintained and paid for software solutions, to those developed on a cloud platform. The market’s rapid adoption of our platform is a testament to its powerful value proposition and is analogous to experiences in other industries.”
To help direct and further accelerate its growth, Apervita also announced that industry veteran Kevin Weinstein has been named Chief Growth Officer. Weinstein has a proven track record of scaling high-growth healthcare enterprises. Prior to Apervita, he most recently served as CEO of Analyte Health. His other experience includes Chief Growth Officer at Valence Health (acquired by Evolent, NYSE: EVH), and executive positions at ZirMed (acquired by Bain Capital) and Allscripts (NASDAQ: MDRX).
“We are fortunate to have someone with Kevin’s background of successfully building and scaling healthcare startups to drive value for our customers,” Apervita founder and CEO Paul Magelli said. “Kevin will add tremendous value as we cement our position as the industry-leading healthcare cloud platform.”
“I’ve worked in healthcare for two decades and have never seen this type of opportunity,” said Weinstein. “The growth Apervita experienced in 2018 is clearly just the tip of the iceberg. I’m excited to bring the power of Apervita’s cloud platform to an ever-increasing group of healthcare customers and partners. Apervita is a true game changer in improving outcomes and lowering costs across the entire healthcare ecosystem.”
About Apervita:
Apervita, Inc. is the first healthcare Platform-as-a-Service (PaaS) that allows providers, payers and the health enterprises that support them to easily build and share applications that decrease cost, improve patient and clinician experience, and improve outcomes. With Apervita, health enterprises can collaborate freely and securely within and outside of their organizations, streamlining, standardizing and auditing quality measures, operational metrics and care pathways. Apervita is used by approximately 1,000 hospitals nationwide.