The Fund added to its position in Inovalon Holdings, Inc. (NASDAQ:INOV), a health care data and analytics company in the period. The foundation of the company is a proprietary data set which contains more than 9.2 billion medical events from 130 million unique patients. This data powers Inovalon’s advanced analytics, which help insurers identify gaps in care, quality, data integrity and financial performance. Clients leverage Inovalon’s intervention platforms to drive improvement in clinical and quality outcomes, utilization, and financial performance across the health care landscape.
Inovalon serves a vast addressable market. The company addresses a $14 billion annual opportunity, and we believe that logical adjacencies can increase the total addressable market by 3–4 times. We are particularly excited by a new relationship with Quest Diagnostics, which can bring Inovalon’s analytics to the commercial market. Secular drivers, particularly the need to reduce inexorable health care cost inflation and a shift to value based from consumption based health care, will help to sustain Inovalon’s growth. (Neal Rosenberg) Continue Reading »