MHA Investment in NextPlane Solutions, LLC, Advances Association’s Support of Safety, Quality
Posted on January 24, 2019
On Jan. 8, the MHA obtained a preferred minority share and seat on the board of NextPlane Solutions, LLC, based in Fort Worth, TX. This new opportunity will diversify the MHA’s future revenue streams and continue to strategically position the association within the realm of healthcare safety and quality.
“The MHA and the MHA Keystone Center have been engaged in safety and quality work for more than 15 years. By partnering with NextPlane Solutions, we are better prepared as an association to lead our member hospitals and health systems into the future of data-driven quality and safety improvement,” said MHA CEO Brian Peters.
NextPlane Solutions is a Texas limited liability company that provides patient safety event reporting software services and consulting to healthcare clients and federally certified patient safety organizations (PSOs), including the MHA Keystone Center PSO. The MHA Keystone Center has been a client of NextPlane Solutions since 2015 and, in 2016, adopted the NextPlane PSO platform as the web-based reporting system for all MHA Keystone Center PSO members.
The MHA Executive Committee worked closely with association staff and outside financial and legal consultants to conduct extensive due diligence into the viability of the proposal. Ultimately, the MHA determined an investment in NextPlane was well aligned with the mission and vision of the association and in keeping with the groundbreaking work of the MHA Keystone Center. Under the terms of the deal, the MHA will assume a 14.5 percent preferred share in the company, and Peters will hold one of five seats on the company’s board.
According to NextPlane President and Founder Mike Personett, “The MHA has been a critical partner in the adoption of NextPlane software across the Midwest. Nationally more than 900 healthcare organizations use NextPlane to prevent harm and improve quality. The investment enables our team to accelerate adoption of our software and ensures continued success in improving the safety and quality of care provided to patients.”
Members with questions may contact Brittany Bogan at the MHA.
Posted in: News Releases, Patient Safety & Quality