Our heritage
Lemhi Ventures was founded in 2006 to use the leverage of venture capital as the engine of change in healthcare services. Through Funds I and II investments in a portfolio of fifteen healthcare services companies, Lemhi has held to a deliberate point of view on the role of disruptive innovation, technology, and data as the keys to better health outcomes, lower costs, and greater consumer control over their healthcare decisions.
Our belief
We believe venture capital is the engine of innovation. As an investment team with deep operational experience and a desire to be working investors, we know what it takes to break new ground.
Our lens
We seek out entrepreneurs whose competitive advantage is that they think differently. The leaders of the companies in which we invest have the drive and the passion to succeed by changing the game.
Our name
We take our inspiration from Lemhi Pass, in the Rocky Mountains. It was a formidable obstacle conquered by the Lewis and Clark Expedition. It is also a symbol to us, of the insatiable curiosity, clarity of purpose, and perseverance in the face of adversity.
Current Investments
Aegele Health Partners
To address the expense and limitations of stop-loss coverage with large individual deductibles, Aegle Health Partners has developed a proprietary system for On-Demand Financing for the entire claim (including the deductible) that kicks in if and when a high-cost claim actually arises.
Mendota Health
Current approach to wound care often result in patients suffering longer or experiencing more detriment health complexity due to lingering open wounds. Mendota Health has created a wound care clinic model that provides treatments for the most complex wounds in the comfort and convenience of the patient’s home.
Reemo Health
Remote patient monitoring suffers from low utilization and poor engagement, especially with older populations. Reemo Health has transformed a wearable device into a targeted digital health intervention optimized for long-term monitoring of patients/members in their own homes.
Harbor Health
Rising health costs are a seemingly intractable problem. No stakeholder in todayʼs system has the incentive AND ability to improve value. Harbor Health is a health system that bears 100% of the financial risk with its members and payers, achieving better outcomes for less money.
Prior Portfolios
DNA Direct
In January 2010, DNA Direct was acquired by Medco Health Solutions, Inc. DNA Direct tracked evidence-based, peer-reviewed literature to validate the clinical utility and medical actionability of new genetics tests. With this information, the company pioneered the delivery of online genetics information to individuals.
Liazon Corporation
In April 2011, Liazon Corporation secured funding from an investor group led by Bain Capital Ventures that enabled the company to repurchase Lemhi’s holdings. Liazon provided a consumer-driven, defined contribution funding strategy for all types of benefits. The tools enable employers to predict and control benefits costs.
Carol Corporation
In November 2011, Carol was acquired by OptumHealth. Carol worked with providers, health plans, and employers to develop a value-based payment system. The company’s consulting services, products, and technology enabled providers and insurers to quantify, capture, and report on the actuarial value associated with care delivery and payment processing.
Desination Rx
In January 2013, DestinationRx (DRX) was acquired by Connecture, Inc. DestinationRx was a pioneer developer of drug comparison and purchasing tools for government, health plans, pharmacy benefit managers (PBMs), and consumers.
TransEngen Inc.
In February 2014, the assets of TransEngen, Inc. were acquired by VirMedica, Inc., with financing from Petra Capital Partners and HealthQuest Capital. TransEngen developed an intelligent transaction processing engine providing end-to-end connectivity between payers, providers, and consumers.
ABILITY Network Inc.
In June 2014, ABILITY Network, Inc. was acquired by Summit Partners. ABILITY Network (founded as VisionShare) connected hospitals, clinics, skilled nursing facilities, physicians, and other health care providers across the country with the nation’s largest payer, the Centers for Medicare and Medicaid Services.
OneHealth Solutions Inc.
In September 2014, OneHealth Solutions, Inc. (founded as OneRecovery, Inc.) was acquired by Viverae. OneHealth Solutions developed a novel form of disease, care, and case management utilizing an anonymous, secure, and clinically supported social networking platform.
Sandlot Solutions
In April 2016, Sandlot Solutions ceased operations. The company’s physician-developed tools were designed to provide interoperable EMR management and sophisticated data analytics at the point of care.
Shareable Ink
In January 2016, Shareable (formerly Shareable Ink) was acquired by Digital Reasoning, a leader in cognitive computing technology. Shareable Ink developed a mobile clinical documentation platform to convert handwriting and other natural inputs into codified, structured data.
RetraceHealth
In April 2017, RetraceHealth ceased operations. Retrace was founded to make primary care convenient, affordable and personal through video consultations and in-home medical services.
PokitDok
In December 2018, PokitDok was acquired by McKesson’s Change Healthcare. PokitDok was an early innovator in applying blockchain technology to health care transactions.
Recondo Technology
In December 2019, Recondo Technology was acquired by Waystar. Recondo was a pioneer developer of innovative revenue cycle automation through advanced robotic process automation (RPA) and other artificial intelligence technology, allowing providers to be paid more, faster, and at lower cost.
PlanSource
In March 2019, PlanSource was acquired by Vista Equity Partners. PlanSource developed a technology platform to provide a complete and intuitive cloud-based solution for benefits shopping, enrollment, billing, compliance and administration for companies of all sizes.
Digital Reasoning
In November 2020, Digital Reasoning was acquired by Smarsh, a global leader in the risk management of electronic communications. Lemhi invested in Digital Reasoning to build out its expertise in cognitive computing and software capabilities in the area of human communications in financial services, government, and health care services.
Bind Inc.
In late 2021, Bind was acquired by UnitedHealth Group, the nation’s largest health insurer. Bind pioneered a new health plan that allowed people to pay for coverage and services as they needed it. The model relied on clear pricing and copays based on provider quality.
Our Team
Our team is made up of former founders, CEOs and growth executives that understand what it takes to launch and advance new healthcare ventures. We have been responsible for creating and investing in numerous companies that have achieved $100+M in revenues and valuations of over $1B.
