The CORE Institute, based in Phoenix, raised equity financing from Frazier Healthcare Partners and Princeton Ventures.
Here are five things to know:
1. The CORE Institute, an orthopedic practice with locations in Arizona and Michigan, will use the investment as growth capital to expand its musculoskeletal care networks and payer partnerships. The practice has a history of partnering with payers for at-risk and pay-for-performance contracting.
2. The practice pioneered a national healthcare network for direct-to-employer contracting in the orthopedic market and recently established a physician hospital organization with Phoenix-based Banner Health.
3. Frazier Healthcare Partners will bring expertise to the partnership by working with management teams to assess and capitalize on business opportunities.
4. The CORE Institute plans continued expansion of its practice network throughout the current locations as well as other markets across the United States.
5. The terms of the transaction weren't disclosed.
"The CORE institute has a proven track record for utilizing its evidence-based protocols and proprietary IT platforms to manage cost and improve quality for medical practices and health systems alike," said Nathan Every, general partner at Frazier Healthcare Partners. "We are thrilled to be partnering with such an industry innovator."