HCAP Partners, a California-based private equity firm and nationally recognized impact investor, has invested in Apprio, a DC-based provider of specialized healthcare technology solutions and services for hospitals and health systems with a focus on automized solutions. Terms of the investment were not disclosed.
Apprio’s solutions are especially vital in today’s environment. Following the end of the Covid-19 public health emergency and the end of Medicaid continuous enrollment, millions of people stand to lose Medicaid coverage. Apprio’s next-generation patient enrollment platform assists hospitals in securing medical insurance coverage for uninsured patients so individuals can access the care they need. In addition, Apprio’s robotic process automation (RPA) platforms support critical revenue cycle functions that health systems depend on to increase efficiency and reduce costs. Apprio delivers value for healthcare organizations by increasing revenue, reducing operational costs, and optimizing care delivery.
Led by Hope Mago and Jessica Kim at HCAP, the investment reflects HCAP’s ongoing commitment to fostering innovation in the healthcare sector and supporting diverse-owned and diverse-led companies. HCAP’s capital will help scale and support the evolution of Apprio’s offerings to drive greater access to care through its patient enrollment software EnrollmentMax™ and lowering healthcare costs in hospitals and healthcare systems by deploying its RPA platform RpaMax™.
“We’re looking forward to the potential impact of Apprio’s advancements as they not only drive operational efficiency for hospitals but also address the critical issue of uninsured patients and contribute to substantial cost savings for healthcare institutions,” said Hope Mago, Partner at HCAP. “We’re grateful for the opportunity to invest in Apprio. This is an exciting time to support a pioneer in healthcare who is driving greater access to care.”
“Apprio is excited to partner with HCAP to begin this next stage in our company’s growth. As a leader in healthcare IT automation and advanced eligibility and enrollment, Apprio is committed to helping the entire industry advance to reduce healthcare costs and enhance the quality of care,” said Darryl Britt, CEO of Apprio.
