Xealth, a startup with a platform that lets clinicians prescribe and monitor digital health tools from their EHR workflows, has secured an additional $3 million in Series A financing. The money came from Atrium Health, Cleveland Clinic and MemorialCare Innovation Fund, the investment fund owned by MemorialCare Health System.
This brings the total amount raised in the company’s Series A round to $14 million. In March, Xealth revealed it raised $11 million in Series A financing from Novartis, Philips, McKesson Ventures, ResMed, Threshold Ventures (formerly known as DFJ), Providence Ventures, UPMC and Froedtert & the Medical College of Wisconsin health network.
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The Seattle-based company will use the investments from this round to advance the development and deployment of its platform.
In 2017, Xealth spun out of Providence St. Joseph Health. Its CEO, Mike McSherry, comes from a technology background. He co-founded Swype, a mobile keyboard app that was eventually sold to Nuance.
Through Xealth’s digital platform, clinicians can prescribe device monitoring tools, patient education information, online third-party apps and non-clinical services like food delivery and ride shares. It also has monitoring and analytics capabilities so healthcare organizations can determine which strategies are working and how to optimize results.
The startup’s customers include UPMC, Providence St. Joseph Health, Duke Health and Hennepin Healthcare, among others. Xealth confirmed that all three new investors — Atrium Health, Cleveland Clinic and MemorialCare — will be using its technology and are in various stages of implementation.
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Via email, Atrium Health chief strategy officer Rasu Shrestha said his system “is actively working to implement Xealth’s technology in our hybrid Epic/Cerner environment and plans to deploy our first two use cases by Q1 of 2020.”
Shrestha added that Xealth will help bridge the gap between physicians’ workflows and patients’ daily lives.
“We believe that the ability to prescribe, monitor and analyze data in the EMR through Xealth will dramatically improve Atrium Health’s return on investment in educational content, remote monitoring and digital applications through improved outcomes at lower costs, better quality and an enhanced patient experience,” he said. “Atrium Health is looking to improve the overall organization’s productivity by simplifying how IT integrates patient-facing digital solutions and by centralizing the prescribing and monitoring process for clinicians.”
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