MedHOK, Inc.
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MedHOK, Inc. - overview
Established
2009
Location
Tampa, FL, US
Primary Industry
Software
About
MedHOK, Inc. provides integrated medical and pharmacy management solutions, focusing on enhancing care coordination and compliance for healthcare plans and pharmacy benefit managers across the United States. Founded in 2009 and headquartered in Tampa, US, MedHOK, Inc. specializes in healthcare software solutions.
The firm has successfully completed three deals, including a recent Growth funding round of USD 77. 50 mn from Bain Capital and Spectrum Equity. In June 2016, Hearst acquired MedHOK for an undisclosed amount, signaling a significant shift in its operational strategy. MedHOK offers MHK CareProminence and MHK MarketProminence, which are integrated software solutions designed for medical and pharmacy management.
MHK CareProminence aims to optimize member care by addressing care gaps and ensuring compliance with government regulations, while MHK MarketProminence focuses on enrollment, billing, and financial reconciliation for Medicare Advantage and Dual-Eligible Special Needs Plans (D-SNPs). The company's diverse client base includes major health plans across various sectors, including Medicare, Medicaid, and Commercial plans. MedHOK's revenue is generated through B2B transactions with health plans and pharmacy benefit managers, utilizing a subscription model for its software solutions. Its primary products, MHK CareProminence and MHK MarketProminence, are offered as software-as-a-service (SaaS) solutions, ensuring continuous client engagement through multi-year contracts that include software access, support, and compliance updates.
Following its acquisition by Hearst, MedHOK plans to leverage its recent funding for expanding product offerings and enhancing its market presence. The company aims to introduce new features in its existing platforms by mid-2024 and is looking to expand its reach into additional geographic markets, focusing on sectors aligned with its core offerings. MedHOK intends to utilize the resources from the recent USD 77. 50 mn Growth round to support these initiatives.
Current Investors
Transformation Capital
Primary Industry
Software
Sub Industries
Healthcare IT, Analytics & Performance Software, Medical Software, Systems Management Software
Website
www.medhok.com
Verticals
HealthTech
Company Stage
Acquired
Total Amount Raised
Subscriber access only
MedHOK, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Growth | Completed | MedHOK, Inc. | - |
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MedHOK, Inc. - employee data
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