TIFFIN, OHIO – October 6, 2026- Surgence Innovations, a healthcare technology company providing a connected operating platform for healthcare supply chain focused on solving the most difficult challenges in the industry, announced a $15 million investment through private funds advised by The O.H.I.O. Fund.
As a result of the investment, Surgence Innovations, dba Surgence, has been established as an independent corporation. Surgence Innovations initially operated under the founding guidance of Concordance Healthcare Solutions LLC. Moving forward, Concordance will maintain a significant ownership stake in Surgence and remain an important strategic and commercial partner.
Since 2023, Surgence has grown to become the first fully integrated, multi-enterprise healthcare supply chain platform built on the Palantir Foundry operating system. By partnering with health systems as well as medical suppliers, distributors and technology vendors, Surgence enables a shared data model that automates workflows, increases operational efficiencies, ensures supply continuity and delivers insights across the entire healthcare supply chain. The investment and creation of an independent corporation represent a significant milestone for Surgence and provide resources to accelerate the company’s long-term strategy, including accelerating investment in its solutions and products, customers, people and innovation throughout the healthcare industry.
“This investment is an important validation of the Surgence platform, our strategy and the value our team has created,” said Cody Fisher, President, Surgence. “With an aligned partner, we are well positioned to accelerate our growth and deliver on what matters most: driving meaningful value for our customers by building a stronger supply chain in support of the everchanging needs of patient care.”
“Ohio has a long history of leading healthcare innovation,” said Mike Venerable, partner and Director of Healthcare and Life Sciences of The O.H.I.O. Fund. “What many firms need is a path to the next generation of ownership and growth. Surgence brings operational expertise to help healthcare evolve, and we’re proud to partner by providing long-term capital through the private funds we advise. Together, we can help cement Ohio’s legacy of healthcare leadership and success.”
“We’re excited for this partnership with The O.H.I.O. Fund to create lasting value by transforming healthcare organizations into stronger, more durable companies that create opportunities for employees and the communities they’re located in all across Ohio,” said Lisa Hohman, Concordance CEO. “Surgence was built by the industry, for the industry by people bold enough to believe that the healthcare supply chain no longer has to choose between financial optimization and product availability.”
About Surgence
Surgence is an integrated healthcare ecosystem platform that combines connective intelligence with a shared operating model to align decisions and actions across health systems, suppliers, distributors and technology partners. Built by healthcare and supply chain industry experts and powered by an advanced data and intelligence architecture, Surgence transforms visibility into coordinated execution, creating measurable value across the healthcare supply chain. To learn more, please visit: www.wearesurgence.com.
About Concordance Healthcare Solutions
Concordance Healthcare Solutions, an independent healthcare distributor, headquartered in Tiffin, Ohio, is built on over 175 years of combined industry experience through the merger of three of the nation’s premier healthcare distributors. Concordance spans the U.S. market with 15 distribution centers licensed in 48 states. Concordance delivers dynamic, dependable service to the entire care continuum including acute care, community health, government, home care, hospice, laboratory, long term care, primary care and surgery centers. In addition to offering the Concordance HCS private label brand of high-quality, cost-effective products, Concordance has experts dedicated to capital equipment, 3PL and technology-enabled supply chain and analytics solutions. To learn more, visit www.concordancehealthcare.com.
About The O.H.I.O. Fund
TOF Manager, LLC dba The O.H.I.O. Fund, is a private investment firm committed to investing in and partnering with innovative entrepreneurs, business leaders, and co-investors who, like them, call Ohio home. With a unique investment thesis focused on leveraging Ohio’s momentum, The O.H.I.O. Fund supports growth in advanced manufacturing, biotech, real estate, infrastructure, and other sectors where Ohio leads. The team brings deep experience and a robust statewide network to connect leaders and unlock the state’s most promising opportunities.
Important Information and Disclosures
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any securities in any private investment fund (the “Fund”) managed by TOF Manager, LLC (“The O.H.I.O. Fund” or the “Adviser”). Any such offering will be made solely to qualified investors through a confidential private placement memorandum and other
offering documents, which should be reviewed carefully before any investment decision.
The O.H.I.O. Fund is an investment adviser to one or more private investment funds. References to investments, capital deployed, or portfolio companies reflect investments made by private funds advised by The O.H.I.O. Fund, not by the adviser itself. Interests in the private funds advised by The O.H.I.O. Fund are offered only to eligible investors and are subject to investor qualification requirements.
Statements about expected growth, anticipated revenue, production capacity, expansion plans, or future business prospects are forward-looking statements based on current expectations, assumptions, and market conditions. These statements are inherently uncertain and subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. There can be no assurance that projected outcomes, expectations, or plans will be achieved.
Past investments or portfolio company developments discussed herein are not indicative of future results. Investment performance varies, and no assurance can be given that any investment will achieve its objectives or avoid losses.
Comments or quotes from portfolio company representatives and references to portfolio companies, customers, or counterparties are provided solely for illustrative purposes and do not constitute an endorsement, guarantee, or recommendation. No representation is made that any investment strategy has been or will be successful.
This communication is not intended to be, and should not be construed as, investment, accounting, legal, or tax advice. Prospective investors should consult their own advisers before making any investment decision.
This press release is intended only for persons located in jurisdictions where distribution is permitted under applicable law. It may not be reproduced, distributed, or used for any other purpose without the Adviser’s express written consent.
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