Lumere Closes Strategic Growth Capital Funding

Chicago, IL — Monday, February 11, 2019

Lumere, Inc., a leading provider of evidence-based analytics and services to reduce unwarranted and costly clinical variation, announced today the closure of a significant round of funding led by Heritage Group. The additional capital will be used to develop and further expand service offerings that enable evidence-led change at health systems nationwide.

“Today, health systems in more than 40 states rely on our proprietary data to make evidence-based decisions when evaluating and optimizing drug and device utilization. Our new services make it possible for physicians to leverage these insights when planning for their cases,” said Hani Elias, JD, MPH, Lumere co-founder and CEO.

“We invest in companies that are passionate about unraveling the complexities of U.S. healthcare and have demonstrated positive momentum. We have been exceedingly impressed with Lumere’s growth during the past three years and are eager to continue supporting their mission,” said Jesse Bland, Principal, Heritage Group, a growth equity firm backed by some of the nation’s leading healthcare companies. Heritage Group also led Lumere’s Series B financing in June 2016.

Combining the power of clinical evidence, data and subject matter expertise, Lumere has helped more than 650 healthcare facilities reduce unnecessary costs and clinical variation since 2012. Lumere’s service offerings have been developed as a result of customer need to bring evidence and analytics closer to the individual physician and have helped health systems save millions of dollars in supply and drug spend while improving overall patient outcomes.

“Healthcare organizations are under significant pressure to eliminate both unnecessary variation and cost,” said Scott Lancaster, MD, MBA, Clinical Director, Spectrum Health Ventures, a participating investor. “We leverage Lumere’s research and evidence insights to ensure we are using products with the strongest clinical evidence and best outcomes for our patients, all while lowering costs. We are committed to supporting Lumere in its quest to equip physicians with tools and insights to make the best decisions possible on every case they perform.”