Protenus, a leading healthcare compliance analytics platform that serves over 200 healthcare organizations, was acquired in January 2025 by Bluesight, a prominent provider of inventory management, procurement, and compliance solutions for health systems and hospital pharmacies. This acquisition marks a significant milestone in Protenus’ journey, which began nearly 12 years ago at Johns Hopkins University.
The story of Protenus began with the initiation of DreamIt Health Baltimore, a former accelerator the university helped sponsor, which was organized by its parent company, DreamIt Ventures. The program received about 100 applications, and 10 teams were selected for the first cohort. Among them were medical students Nick Culbertson and Robert Lord. Initially, they set out to innovate in the digital health space without a specific product in mind however, their journey changed after they connected with Peter Greene, the Chief Medical Information Officer of Johns Hopkins Medicine.
Greene highlighted a security issue with medical records. The major problem was that there wasn’t a system in place to protect the privacy of patient medical records especially as medical records transitioned from paper to digital. Culbertson and Lord realized there wasn’t a company trying to tackle the issue, so the two designed a system to prevent electronic health record breaches from the hospital system’s software service.
This insider’s look at health system pain points enabled Culbertson and Lord to design around a specific institutional need. They pivoted their business to create the solution that would become Protenus. Johns Hopkins Medicine went on to become Protenus’ first customer, a crucial win for gaining market traction. Without Johns Hopkins’ support, further customer success might have been challenging. Other hospitals relied on reference checks from Johns Hopkins Medicine, highlighting the interconnected nature of the healthcare industry.
The Protenus team also developed a user conference for chief compliance officers in health systems. This conference provided a fruitful platform for networking and sharing issues among users, contributing significantly to the company’s growth. Protenus’ founders credit early conversations with potential customers with the product-market fit they were able to achieve.
The success of Protenus also highlights the potential of student founders and the value of structured programs to turn ideas into viable businesses.
