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Tracxn – Healthcare Newsletter # 76 – Healthcare Analytics

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A daily newsletter summarizing recent activity & interesting startups globally

RECENT NOTABLE ACTIVITY – HEALTHCARE ANALYTICS

  • SurgeonCheck offers a SaaS-based analytics platform that rates surgeons based on actual procedural practices, patient outcomes, and costs compared against the latest peer-reviewed clinical research raised $2.54M in Series A funding Link
  • Cota, a cancer outcome, and data tracking company that uses a patented digital classification system to assess patient results on specific treatment protocols raised $18M in an equity growth round from Boston Millenia Partner. 
  • Medable, an app and analytics platform that enables a single developer to build a full-stack HIPAA compliant app with in-app real-time analytics capabilities raised $3.64M in Series A round of funding. Link
  • Zipari a SaaS-based insurance-specific consumer experience platform featuring real-time insights into consumer behavior raised $7M in Series A from Vertical Venture Partners. Link
  • OrthoSensor developer of intelligent orthopedic devices and data services that provide quantitative feedback to surgeons and hospitals to assess their patients raised $2.35 in funding. Link
  • Healthsense which offers WiFi based Personal Emergency Response Systems, remote safety and wellness monitoring was acquired by GreatCall a connected health company creating devices for active aging. Link
  • Enlightiks a provider of data, analytics platform to convert data into actionable insights and finding its applications in healthcare, consumer insights & retail industries was acquired by Practo Technologies. Link 
  • Arcadia offers an analytics platform that integrates data from EHR platforms and uses that data to drive improvements in patient care quality, practice efficiency, and financial performance has raised $30 million from a number of investors, including GE, Blue Cross Blue Shield of Massachusetts and Merck subsidiaries. Link
  • RxREVU offers to help patients and payers save money on their prescriptions by providing a clinical support tool that identifies the most effective medication at the best possible cost received $8.55M Series A funding. Link
  • Senscio Systems offers an artificial intelligence based inference engine received $1.84M Series A funding. Link
  • Predicata provides an analytics platform that offers cost savings and quality improvement opportunities was acquired by Triose. Link 

SOME INTERESTING STARTUPS FOUND

Medint  (2016, Tel Aviv) – A platform to find actionable data needed for providers to take medical decisions.
Gleam (2016, NYC) – Offers an HIPAA compliant web platform that enables therapists to provide more targeted and efficient therapy

LEADER BOARD – HEALTHCARE ANALYTICS

Suite Solutions
Inovalon (1998, Bowie, IPO) – Cloud-based analytics platform for clinical, financial and quality insights. Went public in 2015.
Evolent Health (2011, Arlington, IPO) – An integrated platform for population health, financial and operational analytics. Went public in 2015.
Health Catalyst (2008, Salt Lake City, $237M) – A suite of health analytics and data management solutions to help identify care gaps and support process improvement. Backed by Sequoia Capital, Norwest Venture Partners, Sands Capital Ventures, Sorenson Capital and more.

EHR Platforms
Flatiron Health (2010, NYC, $314M) – Cloud-based Cancer care platform for clinical, financial and operational intelligence. Backed by Google Ventures, Roche, First Round Capital, Social Capital, SV Angels and more.
Modernizing Medicine (2010, Boca Raton, $98M) – Provides Electronic Medical Assistant (EMA), is a cloud-based, specialty-specific electronic medical record (EMR) system. Backed by IBM, Summit Partners, Silicon Valley Bank, Pentland, Sands Capital, Sands Capital Ventures

Population Health Management
Welltok (2009, Denver, $185M) – PaaS based analytics platform for health optimization and population health management. Backed by Qualcomm Ventures, EMCAP partners, Interwest Partners, Bessemar Venture Capital.
MedHOK (2009, Denver, $185M, Acq) – Provides a SaaS-based platform that uses predictive analytics to allow payers to identify and target member health risks, trigger workflow interventions. Acquired by

Hearst Communications.

Clinical Analytics
Imaging Advantage (2007, Santa Monica, $295M) – Cloud-based clinical decision support tool for radiologists. Backed by Goldman Sachs, Brightwood Capital Advisors, and CRG.
Heart Flow (2007, Redwood City, $227M) – Non-invasive decision support tool for diagnosing blood flow blockages in the heart. Backed by Capricorn Investment Group and more.

Butterfly Network (2011, Guilard, $100M) – Developing a device that combines deep learning and an ultrasound imaging technology. Backed by aeris Capital and Stanford University.

Financial Analytics
Remedy Partners (2011, Faifield, $96M) – Provides a tech-enabled episode based care. Backed by Bain Capital Ventures, TomorrowVentures, Bain Capital, Spring Lake Equity Partners.
MediGain (2002, Plano, $46M) – Analytics tools for revenue cycle management, billing, and reimbursement. Backed by Prudential Capital Partners.
Apixio (2009, San Mateo, $42M) – Cognitive computing platform for risk adjustment coding. Backed by SSM Partners, First Analysis and Bain Capital Ventures.
Truveris (2009, NYC, $27M) – A SaaS-based platform for prescription claims analytics and pharmacy data validation. Backed by New Leaf Venture Partners,Tribeca Venture Partners, First Round, New Atlantic Ventures and more.

Operational Analytics
Evariant (2008, Farmington, $68.5M) – CRM analytics platform for digital marketing and patient engagement. Backed by Goldman Sachs, Lightspeed Venture Partners, Health Enterprise Partners, Dignity Health and Salesforce Ventures.
Kyruus (2010, Boston, $56M) – Referral management solutions using analytics and data mining. Backed by Venrock, Mckesson Ventures, New Leaf Venture Partners, Highland Capital Partners and more.
OnShift (2008, Cleveland, $30M) – SaaS based staff scheduling software that predicts and prevents overtime and under-staffing. Backed by Health Velocity Capital, HLM Venture Partners, Draper Triangle, West Capital Advisors and more.
Impact Rx (2000, Mount Laurel, $28M, Acq) – Platform which tracks and evaluates the impact of pharmaceutical promotions on the prescribing behavior of the physicians. Backed by Western Technology Investment, Mediphase Venture Partners, 3i Group.
PatientPop (2014, Santa Monica, $24M) – An end-to-end marketing platform that uses analytics for performance measurement. Backed by Toba Capital, Athena Health, and Silicon Valley Bank.

Health Engagement
Proteus Digital Health (2001, Redwood City, $404M) – Medication adherence platform using sensor-enabled pills, biometric sensor patch, and data analytics. Backed by Novartis, Medtronic, Oracle, KP Ventures.
Early Sense (2004, Israel, $85M) – Has developed a sensor that is placed under the mattress and monitors body vitals as well as bed entries and exits. Backed by Pitango Venture Capital, The Challenge Fund-Etgar, JK&B Capital, ProSeed Venture Capital Fund, Docor International, Bank Hapoalim, Bridge Investment Fund, Noaber Services, Mitsui, Impact First Investments, Partners500, Welch Allyn, Samsung Venture Investment.
WellTok (2005, Baltimore, $65M) – A Mobile Prescription Therapy that enables patients to self-manage their diabetes through real-time motivational, behavioral and educational coaching. Backed by Asset Management Ventures, Windham Venture Partners, Merck, JJDC, Excel Venture Management, Adage Capital Management, Samsung Venture Investment, JNJ Innovation, TCP Venture Capital.

Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.

For latest updates, visit Healthcare Analytics feed.


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