Xealth, a digital prescribing platform developer, has secured $11m in series A funding from investors such as McKesson Ventures, Novartis, Philips and ResMed.
Image: Xealth secures $11m in Series A funding. Photo: Courtesy of Xealth.
The funding round in Xealth also saw participation from existing investors including Threshold Ventures (formerly DFJ Venture), Providence Ventures, UPMC and Froedtert and the Medical College of Wisconsin Health Network.
Xealth supports clinicians to prescribe and monitor digital health care content apps, devices, and services from their electronic health record (EHR) charting interface and in integrating the interaction into a health system’s patient portal.
The capabilities along with the option of adding new digital care vendors within no time, enable in delivering and the measurement of digital care solutions for improved patient care.
The present round of investment is expected to expand the firm’s platform in better connecting patients and doctors.
The newest investors will support its application of digital tools to transform multiple segments of the health care industry.
Xealth CEO Mike McSherry said: “With these new partners joining our existing investors and customers, Xealth will be serving virtually every sector of the health care industry—providers, payors, pharma, devices and supply chain. The Xealth platform is quickly becoming the preferred ‘digital formulary’.”
The startup was incubated and launched at Providence St. Joseph Health in 2017. It has been working with UPMC, the Froedtert and the Medical College of Wisconsin health network, Baylor Scott and White, Duke and other health systems.
The company claims that at present that more than 30 digital health solutions and over a million patient interactions are being prescribed and monitored by the patents to connect patients with educational content, transportation, meal delivery, e-commerce product recommendations and other services that can improve patient health outcomes.
Providence St. Joseph Health chief digital officer Aaron Martin said: “Xealth delivers a win for both patients and clinicians, while driving digital engagement with patients. Clinicians can recommend apps, content, products or services directly from the EMR – dramatically expanding their tool set for improving patient care and engaging patients digitally.”