Written by Jason Krantz
Today was one of those days that I’ll never forget. This morning, I had the amazing opportunity to ring the opening bell of Nasdaq along with 50 of my Definitive Healthcare colleagues to celebrate the initial public offering of our company.
Everyone at Definitive Healthcare is super excited about our transition to a publicly traded company. It’s a significant milestone in our journey. But we didn’t get here alone. Going public is a milestone that’s a testament to the creativity, innovation and hard work of our more than 600 employees and the partnership of our more than 2,600 customers working to transform the healthcare industry.
To all our employees, customers, partners and supporters – thank you!
Launching Definitive Healthcare
I launched Definitive Healthcare with a simple vision – to help companies better understand and sell into the healthcare ecosystem. Over the past ten years, our team has taken that core idea and expanded it into so much more, and today we’ve become an industry leader in healthcare commercial intelligence.
Healthcare is a huge and growing market, representing nearly a fifth of the U.S.’s GDP. Back in 2011 when I started Definitive Healthcare, healthcare was at an inflection point. Rapid digitization of all aspects of the industry was underway, leading to new complexity and vast amounts of unconnected raw data, sitting in both online and offline locations.
For companies who wanted to sell into the healthcare market, this digitization added extra complexity to an already complicated industry, making it even harder to identify the relevant information needed to achieve commercial success. Even when they could find the data, extracting meaningful insights was just as challenging.
Companies were making critical investment decisions around research and development, strategy, and the allocation of sales and marketing resources with little to no intelligence. As a result, organizations were misallocating significant investment dollars and making sub-optimal decisions.
I remember that even in the incredibly early days of Definitive Healthcare, we had a chance to help solve this problem.
Working out of a spare bedroom in my house in Holliston, MA, I remember sitting with Joe Mirisola, now our Chief Revenue Officer, cold-calling provider organizations and offering them a simple data set to understand the hospital landscape across the country.
Since then, we’ve transformed this company beyond what I ever thought was possible.
Where Definitive Healthcare is today
What started out as a glimmer of an idea to help make healthcare easier to navigate has now grown into a public company.
We’ve moved out of the spare bedroom into our headquarters in Framingham, MA with more than 600 employees around the globe.
We have grown our solution suite to offer a platform that provides a 360-degree view of the healthcare ecosystem.
We have built a longitudinal set of intelligence through proprietary research technologies, powerful data science and healthcare subject matter expertise that we do not see elsewhere. We deliver this intelligence through an intuitive SaaS platform that provides our customers with access to data, analytics and expertise in real-time to answer their most pressing commercial questions.
We provide access to answers, not just more data, to help our customers create new paths to commercial success in the healthcare market.
What comes next for Definitive Healthcare
Definitive Healthcare has come a long way in our first decade of existence, but we have just scratched the surface of what we can achieve.
We are in the early innings in the growth of the healthcare commercial intelligence market, as healthcare continues to play a critical role in our economy and our personal lives.
And as the pace of change in healthcare accelerates, Definitive Healthcare stands ready to help our clients understand, navigate, compete and sell into the healthcare market.
I’d like to close out by once again recognizing the hard work of everyone here at Definitive Healthcare.
One of the keys to our success is our mission-driven culture. It is a culture of innovation and execution. A culture of fairness and equity. A culture of giving back to the community.
People join Definitive Healthcare because they want to help solve big problems in healthcare and they want to be part of something larger than themselves.
I am honored to lead this team every day. I want to thank you for all your work, creativity and passion.
I’d also extend my gratitude to our more than 2,600 customers. Thank you for letting us be a part of your journey to shape the healthcare industry of tomorrow. You help push us to innovate and we cannot wait to see what we can do together in the future.
The IPO is just one step, albeit an important step, in our journey. We look forward to what comes next and hope you’ll be there with us.