Call it serendipity. When the management team behind Foundation Medical Partners decided to shift their investment strategy away from medical devices and therapeutics in favor of health IT, the name change to Flare Capital Partners coincided with an exit. IBM Watson snapped up its portfolio company Explorys in a big announcement at HIMSS this month. Explorys, a Cleveland Clinic spinout, is a predictive analytics company that amassed a huge amount of data to develop cognitive insights for clinical decision support.
“The timing was nice” but entirely coincidental, according to Flare Capital General Partner Michael Greeley who spoke to MedCity News in a phone interview Wednesday night.