Teamwrks Receives Series B financing from Vizient Inc.

Vizient Inc., the nation's largest member-driven health care improvement company. Teamwrks Technology will continue its rapid national growth thanks to a strategic investor.

Teamwrks

A leading provider of healthcare technology solutions for hospitals, health systems, academic medical centers and skilled nursing facilities in the United States and the United Kingdom, today announced it has raised a strategic Series B financing round led by Vizient Inc.

The Company’s Teamwrks Technology Platform is a healthcare technology suite that uses artificial intelligence (AI) and machine learning to help ensure providers have the insights necessary improve financial performance, quality of care and patient outcomes, while appropriately managing the workforce. The technology’s modular design, impactful data analytics and robust project engine enables the system to scale and provide solutions to health systems of all sizes.

Teamwrks technology will become the industry standard for using AI and predictive analytics to better manage healthcare organizations.

In 2020, Vizient formed a subcontractor relationship with Teamwrks to enhance our expert-led, analytics-enabled Workforce Solutions offerings to our member hospitals. With this new exclusive strategic partnership, we will be able to fully integrate Teamwrks’ near real-time analytics, automated opportunity identification and improved dashboard visualizations to strengthen our position as a solutions provider in the workforce space.

Marshall Leslie, Group SVP, Quality and Operations at Vizient Inc.

Healthcare today, especially as it exits COVID-19, faces enormous operational challenges representing billions of dollars of financial opportunity. Healthcare system leaders must improve financial performance while providing the highest quality care to their patients. Using a proprietary combination of artificial intelligence and machine learning tools in a collaborative environment, the Teamwrks technology suite has cracked the code to improve operations and staff engagement for engagement and long-term sustainability.

Vizient's investment reaffirms the exceptional value of Teamwrks technology and opens the door to even broader adoption at Vizient member hospitals.

Jason Palmer, CEO of Teamwrks

Having been closely associated with the company since its inception, we are thrilled with the company's growth and the remarkable value of its technology to regional hospitals and large health systems across the country. An example of this exciting growth is their partnership with Vizient.We are excited about this round of funding and that our partnership with an incredible partner in Vizient accelerates the opportunities before RVHS.

Thomas Rizk, CEO and Chairman of Rizk Ventures and a member of the Teamwrks Board of Directors