Consumer engagement platform empowers health systems and life sciences companies to improve outcomes and reduce costs by automating communications, information-gathering and education
Image: Twistle receives $16m investment. Photo: Courtesy of TeroVesalainen/Pixabay
In a move that will further strengthen its leadership position in helping health systems and life sciences companies deliver personalized care guidance through the emerging category of care process automation, Twistle today announced it has secured $16 million in Series A funding. Leading healthcare enterprises use Twistle’s scalable technology to manage outreach to patient populations by automating communications, information-gathering and patient education, helping them improve clinical and patient-reported outcomes while simultaneously lowering costs.
The funding round was led by Health Enterprise Partners (HEP) and MemorialCare Innovation Fund (MCIF). HEP is a growth equity firm whose investors include some of the largest health systems and health plans in the United States. MCIF, the venture arm of the MemorialCare Health System, partners with leadership at the health system to vet and invest in disruptive healthcare technology.
Twistle selected HEP and MCIF because of their mutual commitment to deliver large-scale intelligent transformational solutions to the healthcare industry. “We are particularly impressed with their partnerships with leading provider and payer enterprises, and their records of helping innovative healthcare technology companies succeed,” said Kulmeet Singh, Twistle’s CEO. “We think they are the ideal partners to help us lead healthcare into a new era of communication effectiveness.”
The funding will be leveraged to advance Twistle’s mission of helping care teams optimize every patient’s care by automating proactive conversations that inform timely actions. Specifically, the company will accelerate expansion in the provider and life sciences markets, and fuel innovation with a focus on human-assisted automation that enables those organizations to continuously improve patient care.
“If we want to deliver great care and bend the cost curve in this country, we cannot continue following the status quo,” Singh said. “We have to use automation to increase the effectiveness of our care teams and find better ways to motivate patients to take ownership of their own health.”
One of the most significant differences in Twistle over other information delivery systems is its ability to be molded to exactly what health systems or life sciences companies need to deliver their desired results. Enterprises are free to innovate on Twistle’s process automation platform and configure novel pathways to engage patients and consumers through any channel: mobile messaging apps, patient portals, interactive voice response, and simple, secure text messaging.
Ezra Mehlman, Managing Partner at HEP, said that HEP’s partnership with many of the leading healthcare organizations across the country has provided a unique perspective about the value of Twistle’s technology. “In our conversations with them, we hear the priority their executives are assigning to hyper-individualized care plans and asynchronous patient communications,” he said. “They see these as the keys to true patient engagement. We have also observed how many of these leaders select Twistle as their solution after rigorous head-to-head contests. We are thrilled to be partnering with Kulmeet Singh and his team in executing on what we believe is an outsized market opportunity.”
Brant Heise, Managing Director of MemorialCare Innovation Fund, said Twistle’s technology makes a difference for patients, too. “Large health systems are confronted with a dizzying array of apps to educate and guide patients, each targeting a different disease or condition, with a unique app experience,” he said. “Twistle enables health systems to eliminate many point solutions and consolidate on a single platform that integrates with the existing IT ecosystem. Allowing patients to engage through messaging standardizes their experience and makes adoption simple.”
Source: Company Press Release