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Vxtra Health

Operating

Vixtra Health Plan, Inc.

Healthcare · Technology · Atlanta, DE · Founded 2021

Leveraging over a decade of experience managing healthcare benefits for large medical practices

Post-money valuation ⓘ
$15.4M
As of Aug 2022 · from Reg CF Offering (2021) · pre-money + amount raised, not a traded price
Total raised
$807,762
Crowd $208K · Private $600K · 2 rounds since 2021
Latest share price
$0.40
Reg CF · Common Stock · Sep 2021 offering price

Financials

FY2019–FY2021 · from SEC filings · hover any figure for its source
$2.0M
$583K
2019
$1.8M
−$74K
2020
$2.0M
−$592K
2021
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2019 audited
FY2020 audited
FY2021
Income statement
Revenue
$1,955,097
$1,848,743
$2,049,357
Cost of goods sold
$2,504,346
$0
$0
Gross margin
-28%
100%
100%
Net income
$582,791
-$74,121
-$591,797
Taxes paid
$0
$0
$0
Balance sheet
Cash
$226,740
$136,532
$103,151
Accounts receivable
$110,855
$193,169
$130,868
Total assets
$460,194
$456,768
$237,708
Short-term debt
$793,572
$1,298,010
$688,827
Long-term debt
$435,791
$549,970
$447,808
Total liabilities
$1,229,363
$1,847,980
$1,136,635
Other
Headcount
—
8
8

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$15.1M
pre-money
Reg CF · Common · Sep 2021

Blue bars are the pre-money valuation the company stated for a priced round.

Fundraising history

Raised $600KInvestors 5
Raised $207.8K / $5MInvestors 97Post-money $15.4M

Team

10 people
Larry Hightower
Chief Executive Officer

Larry is an acknowledged hands-on leader and innovator in the healthcare industry whose career path has been dedicated to improving clinical and financial outcomes for physicians, patients and payers by championing disruptive technologies and services. In 2005, he founded Vxtra Partners, LLC, a special-purpose health benefits solution that serviced large, independent medical practices in Georgia, Florida, South Carolina, North Carolina, Tennessee, Oklahoma, Texas, Illinois, Virginia, Maryland, Washington, DC, Pennsylvania, New Jersey and New York. For over 30 years, Larry has combined his relationship management skills with business acumen to bring to market micro-surgical procedures, implantable devices, diagnostic imaging instrumentation, clinical information services and e-clinical trials applications. He has held key marketing and leadership roles developing go-to-market strategies in cardiology, urology, ophthalmology, gastroenterology, emergency medicine and radiology. Those relationships and experiences continue to prove valuable in attracting doctors to lead the development of a next generation strategy for lowering costs and improving health outcomes.

Brian Coffey
Chief Information Officer

A Six Sigma Master Black Belt, Brian has extensive experience turning transformational opportunities into unique information, analytical and technological solutions for Fortune 100 corporations and start-ups alike. He has held corporate leadership roles at Tech Mahindra, GE Energy, CNBC, NBC Universal, Inc., GE Capital and CIBA Vision. Brian has also utilized his extensive expertise to serve as a trusted advisor to numerous start-ups in the areas of predictive analytics software, data management and IoT software, text analytics, machine learning-driven digital marketing and CRM, and an artificial intelligence-driven, model-based automated testing platform.

Charlie Elliott
President

Charlie brings more than 25 years of experience in health-system leadership and advisory services to his role as Vxtra Health’s President. A collaborative leader who achieves results through stakeholder relationships, he possesses a deep industry knowledge of healthcare strategy, finance, clinical and operational improvement, physician alignment, corporate services structure and post-merger integration. Elliott held consulting roles with Accenture, Navigant Consulting, Optum Advisory Services and KPMG; developed the operational performance improvement division for Summa Health; and served as business manager for the Cleveland Health Network Integrated Services Organization (Cleveland Clinic Health System). He is a member of the American College of Healthcare Executives, the Georgia Association of Healthcare Executives and the Healthcare Financial Management Association. Elliott holds a Certificate in Executive Health System Management from Case Western Reserve University in Cleveland, Ohio, and a Master of Business Administration from the University of Akron. Elliott is keenly aware of the value of physician-led collaboration to improve outcomes, having invested a large portion of his career in major teaching hospitals. Thus, he respects Vxtra Health’s vision of returning the physician back to the center of the care delivery process.

Gail Tolbert
Chief People Officer

As a Senior Professional in Human Resources (SPHR), a Certified Compensation Professional (CCP), a SHRM Senior Certified Professional (SHRM-SCP), Gail has an extensive background working with both start-ups and established companies to craft human resources strategies that align organizational, performance and productivity objectives. As the founder and CEO of OutsideTheBox, LLC, Gail helps women optimize their full potential and works with executive leadership teams to achieve business and personal goals. Additionally, she is a John Mattone Intelligent Leadership Certified Coach and a certified practitioner of Predictive Index behavioral and cognitive assessments, with a Master of Science in human resources management. She was awarded the SHRM Pegasus Award for HR Leadership and Innovation and the Key Scholarship Award for Academic Excellence and HR Leadership from the Bebee Institute of Personnel and Employee Relations.

Jerry Quinn
Chief Operating Officer

For more than 30 years, Jerry has served in both senior executive leadership and strategic consulting roles in the employee health benefits field. He brings extensive experience and knowledge of large and middle-market self-funded employee health plans to his role as Chief Operating Officer of Vxtra Health. Most recently, Jerry served as National Benefits Practice Leader at CLVL Solutions where he was responsible for the delivery of employee health benefits consulting services to multinational medical devices, pharmaceutical and consumer packaged goods manufacturing companies. He cultivated strategic alliances with a variety of best-in-class national and regional employee health insurers and specialized health plan vendors in delivering products and services to corporate clients. He possesses a deep knowledge of health plan financing, administration, provider networks, care management services, pharmaceutical benefit management services and wellness programs. Prior to his employee health benefits consulting role, Jerry served as Senior Vice President and East Regional Director at First Health. Jerry was one of 14 senior management investors who launched venture-backed Alta Health Strategies which ultimately became First Health, a publicly traded Managed Health Care Company. The keys to growth included adding Care Management, building National provider networks, adding Prescription Benefits Management services, and Stop Loss coverage to augment excellent health claims administration services. Jerry has participated in several Charitable Fund-Raising initiatives for organizations such as The American Cancer Society, Johns Hopkins Children’s Center Pediatric Trauma Service and Special Olympics. He is a former School Board member of The Shrine of the Sacred Heart in Baltimore, MD. A native of Brookline, MA, Jerry is a graduate of Middlebury College in Middlebury, VT.

Mel Mendenhall
Chief Sales Officer

For more than 35 years Mel has been a recognized change agent in the consulting and health benefits field. During his tenure with consulting/brokerage firm Fred. S. James in the mid 1980’s, Mel was a market leader in introducing mid-size and large employers to the concept of self-funded health plans. In 1986, as a co-founder of Alta Health Strategies, Inc., he served as Senior Vice President of Alta’s Atlanta TPA and Managed Care operations. During his tenure at Alta, the Atlanta operation went from start-up to $10M in revenue in 5 years prior to Alta going public in 1992. Mel’s clients included Adventist Health Systems, Voluntary Hospital Association (“VHA”) of Georgia, Ingalls Shipbuilding, Gaylord Entertainment Company (Opryland), CSX Railroad, Merck, Norfolk Southern, Johnson & Johnson, Valeant Pharmaceuticals and Saks. Mel has assisted more than 100 companies in transitioning their health plan from a fully insured arrangement to a self-funded plan.

Tino Valentino
Chief Financial Officer

Tino has served in multiple executive leadership roles for highly successful medical practices for over 20 years. Most recently he served as chief financial officer of Carolina Urology Partners, a 36-physician urology practice in Charlotte, North Carolina, where he was responsible for all financial operations, data analytics and contractual relationships. Prior to Carolina Urology Partners, he served as the CEO, COO and CFO of Central Ohio Urology Group, a 29-physician urology practice, an independent ambulatory surgery facility and men’s health center in Columbus, Ohio. Prior to his roles managing medical practices he was the CFO for the rehabilitation division for the state of Ohio. Tino received his Bachelor of Science degree in accounting from Ohio Dominican University and is a certified public accountant.

Robert DiLoreto, MD
Director and CMIO

A board-certified adult and pediatric urologist, Dr. Robert Di Loreto brings extensive experience as a specialty-care physician, healthcare innovator and trusted advisor to his position as Vxtra Health chief medical informatics officer. He also serves as chief medical officer for United Medical Systems and as president and CEO of Wayne-Macomb Consulting, LLC, consulting in areas of medical malpractice, clinical information technology, electronic medical records, regulatory issues, medical practice data and software development. As a practicing clinician, he developed a HCFA-compliant paper-based charting system that incorporated clinical protocols as well as internal audits and led the roll out of numerous EHR and ancillary programs. Dr. Di Loreto has been a consultant and urology advisory panel member for the Food and Drug Administration’s Center for Devices and Radiological Health for more than 30 years. He was the co-founder and president of the Michigan Institute of Urology, the nation’s first large urology super group, as well as the medical director of Michigan Mobile Lithotripsy, the co-founder and board member of Michigan Cryogenic Equipment Services and Michigan Mobile Urology Services, the co-founder and medical director of Great Lakes Lithotripsy, and chief medical information officer for Integra Connect. The former chief of urology and past president of medical staff at Saint John Hospital and Medical Center in Detroit, Dr. Di Loreto is also a former board member and chairman of the hospital and health system. In his own words, Dr. Di Loreto explains “No system previously existed to meld disparate data sources across many sources; independent physician practices, Health Systems, Insurance companies, Third party administrators (Electronic Medical Records, Lab data, Billing data, TPA data, etc.) that can now be aggregated and used to provide nearly real-time physician partners to practice ‘Right Medicine, at the Right Time, for the Right Reasons’ for the best patient’s care with the aid of Clinical Concierge Navigators. Our ability to minimize partner physician’s practice problems (ex. Prior Authorization) as well as maximize partner patient’s care and minimize partner employers never-ending insurance costs increases puts Vxtra Health in a unique position moving forward.”

Tim Attebery
Chairman, Board of Directors

Tim brings more than 35 years of healthcare leadership experience to his position as chairman of the board. His passion for enacting meaningful healthcare reform to reassert physicians as the primary gatekeepers of patient care and management goes hand in hand with the mission behind Vxtra Health’s disruptive health benefits solution. Tim previously served as the CEO of the American College of Cardiology (ACC), CEO of MedAxiom, and president and CEO of the Holston Valley Medical Center. Prior to his CEO position at the health system, he was the CEO of the largest most influential cardiology practices in Evansville, IN, Columbia, SC, and Kingsport, TN. Additionally, Tim served on the boards of the Cardiology Advocacy Alliance and the Cardiology Leadership Alliance and was instrumental in founding the Society of Cardiovascular Computed Technology and MedAxiom. He holds a bachelor's degree in business administration from Western Governors University in Salt Lake City, a Master of Business Administration from the University of Tennessee-Knoxville Haslam College of Business and a doctorate in healthcare leadership from the University of Alabama at Birmingham

Show 1 more person
Robert Merold
Director

Bob has more than three decades of leadership experience in healthcare data and analytics, new-product development, operational management and synergistic business deals. He has helped organizations ranging from start-ups to billion-dollar companies, as well as medical societies and VC/PE firms, grow their revenue and develop and execute effective go-to-market strategies. Bob spent the first decade of his career advancing to category manager at Procter & Gamble before becoming director of marketing for Bristol-Myers Squibb. He then served as global senior vice president of product for IMS Health and ran a cutting-edge genomic startup, followed by one of the first commercial efforts in the healthcare NLP data mining space. Bob has served on corporate boards, as chief of strategic initiatives for the health information technology platform CancerLinQ™. He is currently the managing director of Execullence LLC, a boutique consultancy that serves in an advisory capacity to high performance management teams in healthcare and venture and/or M&A finance.

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not requiredFiled Form C-TR (terminated reporting)

Filed 1 of 5 annual reports (FY2021–FY2025)

97 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

SEC filings

  • Form DJun 3, 20240001881925-24-000004
    EDGAR
  • Form C-TRApr 3, 20240001665160-24-000301
    EDGAR
  • Form C-UAug 15, 20220001665160-22-002204
    EDGAR
  • Form C/AJul 13, 20220001665160-22-002021
    EDGAR
  • Form C/AApr 27, 20220001665160-22-000919
    EDGAR
  • Form C-ARApr 25, 20220001665160-22-000804
    EDGAR
  • Form C/AMar 28, 20220001665160-22-000550
    EDGAR
  • Form CSep 29, 20210001665160-21-001713
    EDGAR
Source: ManualCIK 0001881925DEShare price $0.40

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.