Vitals raises $41M for physician rating, cost comparison offering

By Aditi Pai
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Lyndhurst, New Jersey-based physician rating site Vitals has raised $41 million from the Merchant Banking Division of Goldman Sachs. This brings the company's total funding to at least $86 million.

Vitals, which was founded in 2007, initially offered a provider search website for consumers, but has since added other features. Users can also review physicians, find doctors near them, and compare pricing. Users can filter their searches by specialty, location, condition, insurance, or urgent care centers. The types of doctors listed on the website include dermatologists, endocrinologists, family practitioners, neurologists, orthopedic surgeons, pediatricians, primary care doctors, psychiatrists, and urologists.

Vitals will use the funds to roll out its health plan and employer-focused offerings, VitalsChoice and SmartShopper. VitalsChoice is designed to help consumers find providers, compare pricing, and track their savings, while SmartShopper enables health plans and employers to message with consumers, track payments, launch marketing campaigns, and view analytics as well as reporting.

The company also made a few changes to its executive team this year. In March, Vitals hired Heyward Donigan, as CEO. She was previously CEO of ValueOptions and before that served as EVP as well as Chief Marketing Officer at Premera Blue Cross. The following month, Vitals hired Kyle Raffaniello, former Chief Strategy Officer and Executive Vice President of ValueOptions, as its first Chief Revenue Officer (CRO). And last month, the company appointed Dennis Charland as its SVP of sales. Charland previously served as vice president of national and consultant sales at Blue Cross Blue Shield of Massachusetts.

Last year, Vitals disclosed its 2013 revenues to Inc Magazine for its list of the fastest growing private companies. The company's revenues reached $14 million and added 71 jobs over the previous three years.

In October 2014, Vitals acquired price transparency service Compass Healthcare Advisers. The acquisition integrated Compass Healthcare Advisers' price transparency system with Vitals' existing service so that consumers are able to consider both options when choosing a provider.