Irvine-based Alignment Healthcare LLC has raised $125 million in committed funds from General Atlantic LLC, a global private investment firm based in Greenwich, Conn.
Alignment said it will use the money to support its operations and help initiate its expansion into new markets nationwide.
It partners with hospitals, health plans and physician groups to help streamline the medical care process and provides information technology services, risk-management and clinical care coordination, among other services.
Alignment is headed by Chief Executive John Kao, who founded the company last year.
He was previously president of CareMore Medical Enterprises Inc. in Downey, which he and other investors acquired in 2006. National health insurer Wellpoint Inc. bought CareMore in 2011 for about $800 million.
Kao’s career includes a stint as executive vice president at the TriZetto Group, which was founded in Newport Beach in 1997 by local healthcare industry veteran Jeff Margolis. TriZetto was sold to New York-based private equity firm Apax Partner Inc. in 2008 in a $1.4 billion deal.
Kao also worked as chief executive of PacifiCare Ventures, the e-commerce unit of PacifiCare Health Systems Inc. in Santa Ana.
