WhiteSpace Health Announces $18 Million in New Funding to Build Out AI-driven Revenue Intelligence Platform

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Nov 02, 2021, 12:19 ET

BOCA RATON, Fla., Nov. 2, 2021 /PRNewswire/ -- WhiteSpace Health today announced a $18 million investment from parent company, Omega Healthcare, that is backed by investment funds managed by Goldman Sachs Asset Management (Goldman Sachs) and Everstone Capital, to accelerate the product roadmap of its AI-driven Revenue Intelligence Platform and the expansion of its selling engine.

WhiteSpace Health has quickly become the leading provider of healthcare analytics in the ambulatory setting through direct and white labeled solutions. Earlier this year, WhiteSpace Health entered the acute care market. Clients across the entire healthcare continuum are now realizing hundreds of millions of dollars in revenue uplift from the guided insights contained in the revenue cycle and operations modules of this enterprise grade platform.

According to Gautam Char, President and CEO of WhiteSpace Health, "We are thrilled with the demand for our Revenue Intelligence Platform. WhiteSpace Health converts information, often from disparate sources, into actionable insights that stem revenue leakage, lower denial rates, reduce patient no-shows, and create more efficient operations. The resulting top line growth of WhiteSpace Health clients is impressive. Our powerful AI capabilities leverage the vast healthcare IT and RCM operations experience the team possesses, allowing us to earn a leadership position in market. This additional investment will allow us to add complementary solutions and rapidly bring those benefits to the market."

"In the last six months, WhiteSpace Health has signed up impressive new clients, demonstrated a strong financial ROI for its customers, and has executed with precision," said Harsh Nanda, Managing Director in the private equity business within Goldman Sachs Asset Management.

"WhiteSpace Health continues to invest in and fill a market void in AI driven deep solutions around denials management and operational analytics," said Avnish Mehra, Senior Managing Director at Everstone Group.

About WhiteSpace Health

WhiteSpace Health is a deep analytics company whose Revenue Intelligence Platform supports the informational and decision-making needs across settings of care and scales to support some of the largest and most complex healthcare enterprises. The platform integrates with disparate systems to provide a unified enterprise dataset. Through the combination of artificial intelligence and proprietary methodologies, WhiteSpace Health securely delivers fresh, actionable insights, which build organizational alignment through data, and support rapid decision making essential for resolving areas of revenue leakage, improving operational performance, uplifting revenue, and transforming the business. Additionally, new guided solutions enable both prevention and resolution of denials, as well as predictive capabilities to reduce patient no-shows that drive higher provider utilization. Follow us on LinkedIn, Facebook and Twitter or visit us at www.whitespacehealth.com.

About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30^th, 2021. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate, and infrastructure.

Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.

About Everstone Group

Everstone is one of Asia's premier investment groups focused on cross-border North America – Asia investments and domestic investments in India and Southeast Asia. The group has assets in excess of $6 billion USD across private equity, real estate, credit, infrastructure, and venture capital. Everstone has a significant resource base across its offices in New York, India, Singapore, Mauritius, and UAE, comprising best-of-breed investing, operations, and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com.

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SOURCE WhiteSpace Health