Bardavon Health Innovations, an Overland Park-based provider of health-care data and analytics solutions, has landed a massive investment, which will propel its nationwide growth. Bardavon announced this week that it had raised $15 million in new financing, led by NewRoad Capital Partners, an investment firm based in Northwest Arkansas.
While Bardavon is currently operating in 21 states, the investment helps extend its presence into every community in the country, according to a statement from the company.
“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,” Clete Brewer, managing partner of NewRoad Capital Partners, said in the news release. “We believe that Bardavon is poised for explosive growth.”
The announcement is a welcome sign for Kansas City entrepreneurs seeking expansion capital. History has shown that these investments are more likely to end up in larger markets or along the coasts (specifically Boston, in terms of health-care companies). Bardavon’s coup marks a change in that trend. Additionally, Matt Condon, founder and CEO of Bardavon, says this investment also represents a change in health-care in general.
“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,” Condon said. “This investment confirms that change is coming to health care, that Workers’ Compensation programs will help catalyze the transformation to quality-based medicine, and that Bardavon is well-positioned to lead that charge.”