Health IT · Hospital operations

Qventus

Software that automates the logistics wrapped around care: who gets the operating room, when a patient goes home, which fax gets read. Backed to $200 million, in more than 180 hospital facilities by the company’s count, and carrying no peer reviewed study of its results.

Duct tape and fax

Ask a hospital executive where the money is made and the answer is the operating room. Ask how the operating room is run and the answer gets quieter.

“While the OR is the financial engine, it’s held together by duct tape and fax,” Mudit Garg told Becker’s Hospital Review in 2022. He then gave a number: one customer’s surgical scheduling office fielded 2,300 inbound calls a month for a single hospital.

That is the market Qventus has worked for more than a decade. Not diagnosis, not treatment, not the scribe layer that swallowed so much healthcare AI funding. The logistics underneath: block time nobody released, a discharge order four hours late, a records request that put a nurse on hold.

The gap it is aimed at

Roughly 30 percent of prime operating room time goes unused, by the company’s figure, while surgeons and patients cannot find a slot. On the inpatient side the currency is the excess day: the bed a patient holds after they were ready to leave, which costs the hospital money and costs the next patient a bed.

Every electronic health record already holds the data needed to see both problems. What it does not do is act. Qventus calls itself a system of action sitting on top of the system of record, predicting the bottleneck, choosing the intervention, and increasingly carrying it out.

The category is small and consolidating. LeanTaaS, founded in 2010 by another McKinsey alumnus, bought Hospital IQ in January 2023 at a combined valuation above $1 billion, six months after Bain Capital took a growth stake. Epic launched an OR Marketplace feature in 2025 at no extra cost to its customers. That is the squeeze every operations vendor here lives inside.

Three founders and a McKinsey project

VentureBeat reported in 2016 that the company was founded in 2011 by Brent Newhouse, Mudit Garg and Ian Christopher, in Mountain View, under the name analyticsMD. Qventus’ own history page dates the founding to 2012 and describes two founders rather than three. The name changed in March 2017.

Garg holds a master’s in electrical engineering and an MBA, both from Stanford, and met the problem on a hospital project at McKinsey. What struck him, he told HIStalk in 2018, was that the system depended on people performing heroics daily, and so never fixed itself.

“We are comfortable in the conference room thinking all we want about dashboards and information, but in the moment when people are busy, nobody has any time to do something about it,” Garg said. A nurse told the team she had no use for a prediction offering a 30 percent chance of one thing and 40 percent of another. So the product stopped showing probabilities and started sending nudges.

Nudges to teammates

The arc since is a climb up one ladder. Predict a problem. Suggest a fix. Recommend the best fix. Do it unless told otherwise. Do it and report back.

In November 2016 came a $13 million Series A led by Norwest Venture Partners and Mayfield, with Y Combinator and the Stanford StartX Fund. In May 2018 Bessemer led a $30 million Series B that brought in NewYork-Presbyterian Hospital. In February 2022 Thomas H. Lee Partners led a $50 million growth round alongside Premier Inc.

August 2024 was the turn. Qventus launched AI Operational Assistants, built with Northwestern Medicine, Ardent Health, Allina Health and HonorHealth, able to call other institutions for records, text patients about medications, and read and route faxes. Five months later KKR led a $105 million Series D at a valuation TechCrunch reported above $400 million, with Northwestern Medicine, HonorHealth and Allina Health joining as strategic investors. Three customers became shareholders.

Garg was blunt about the timing. “To be candid, we needed neither equity nor debt but it was an opportunity,” he said.

What is proven, and what is still claimed

Read plainly: the commercial evidence is strong and the published literature is empty. Sixteen organizations told KLAS what they thought, and what they said was good, if not best in the category. Customers put their own capital in, the most expensive reference a buyer can give. But every operational number here was measured by the vendor, published by the vendor, and for the three largest references, measured at a health system that owns a piece of the vendor. Twelve years in, nobody has published a study.

What to watch

• A peer reviewed paper. A length of stay result from a named academic center would move this from vendor claims to evidence.
• The 2026 KLAS scores, and whether the 3.5 point gap to LeanTaaS narrows or widens.
• Cash flow breakeven, which Garg told Business Insider he hoped to reach by the end of 2025. No confirmation since.
• Whether Epic’s free OR Marketplace erodes the perioperative business, the fastest growing segment.

In their words

Related companies

• Pharos: Also in Healthcare IT. An AI system that reads hospital charts and produces the quality measures nurses now extract by hand
• Metriport: Also in Healthcare IT. An open source platform that pulls a patient’s scattered records out of the national health information networks and returns them as one structured file
• Helium Health: Also in Healthcare IT. A Lagos company that digitised hospital paperwork across West Africa, then started lending to the hospitals it had digitised
• Apprentice Health: Also in Healthcare IT. A Boston company that clips Bluetooth badges to clinicians and to patients, turns the location trace into a model of how a clinic runs, and rewrites the appointment

Sources

1. Public recordSEC EDGAR company and full text search for Qventus and AnalyticsMD, no registrant and no Form DSEC · checked Sep 23, 2026
2. Public recordPubMed searches for Qventus, 0 title or abstract hits, 20 conflict of interest mentionsNLM · checked Sep 23, 2026
3. Independent2025 Best in KLAS, Capacity Optimization Management ranking tableKLAS Research · 2025
4. IndependentMore money comes to AI healthcare: Qventus nabs $105M at $400M+ valuationTechCrunch, Ingrid Lunden · Jan 13, 2025
5. IndependentQventus pockets $105M series D backed by KKR to build out operational AI techFierce Healthcare, Emma Beavins · Jan 14, 2025
6. IndependentHealthcare AI startup Qventus just raised $105 million from private equity giant KKRBusiness Insider, Rebecca Torrence · Jan 14, 2025
7. InterviewHIStalk Interviews Mudit Garg, CEO, QventusHIStalk · Jul 18, 2018
8. InterviewThe path to greater OR efficiency, 5 Qs with Qventus CEO Mudit GargBecker’s Hospital Review · Nov 17, 2022
9. IndependentAnalyticsMD raises $13M to support air traffic control for hospitalsMedCity News, Stephanie Baum · Nov 16, 2016
10. IndependentQventus receives $30M investment to bring AI to hospital workflowsMobiHealthNews, Dave Muoio · May 14, 2018
11. PartnerLeanTaaS acquires Hospital IQ to create AI innovator for hospital operations optimizationBusiness Wire · Jan 10, 2023