NEW YORK--(BUSINESS WIRE)--HealthReveal, a healthcare technology company that anticipates and mitigates adverse medical events for individuals with chronic disease, announced today a $10.8 million Series A round led by GE Ventures and joined by Greycroft Partners and Flare Capital Partners; Manatt Ventures also had joined the syndicate.
HealthReveal partners with leading providers, payers and employers to enable them to detect the onset of potentially life threatening health issues and intervene before an adverse event occurs. The company has developed a next generation cloud-based, clinical analytics solution, harnessing the power of evidence-based medicine as a foundation for machine learning.
The HealthReveal solution continually monitors and analyzes patient physiology and care by integrating multiple real-time streams of clinical, operational and biometric data to ensure adherence to evidence-based care guidelines by clinicians and patients. When data suggest that the patient’s care has deviated from those guidelines, HealthReveal suggests immediate and highly personalized interventions to optimize care and reduce the risk of adverse medical events.
“HealthReveal is building an analytical bridge between the medical literature and covered individuals’ phenotypic clinical profiles generating diagnostic and treatment guidance in line with current medical best practice,” said Dr. Lonny Reisman, the Company’s CEO and founder. “Our company is founded on the simple principle that knowledge saves lives and that by looking at each patient personally and comprehensively we can make a meaningful improvement in clinical outcomes, medical costs and value. ”
“HealthReveal has the potential to transform our ability to combat chronic disease. This is an exciting opportunity to combine personalized digital information with a business model that allows patients and their doctors to make better and earlier decisions to preserve and maintain their health,” said Lisa Suennen, Senior Managing Director of Healthcare Investing at GE Ventures. “HealthReveal’s management team has succeeded in this area before and now has more advanced tools to execute at an even more profound level.”
“HealthReveal helps clients reduce the cost of care by improving the quality of care; ensuring incontrovertible medical knowledge is consistently and reliably used by clinicians in providing first class medical care,” said Bill Geary, General Partner at Flare Capital Partners. “The breakthrough technology and client penetration position HealthReveal to make an enormous contribution to the healthcare system at large.”
“We are delighted to be working with HealthReveal and expect that the introduction of their technology will be a key driver of our future clinical and business success,” said David I. Cohen, MD, MSc, Executive Vice President, Clinical Affairs & Affiliations; Chair, Department of Population Health, Maimonides Medical Center in Brooklyn, NY. “The company understands that health care technology only matters if it helps transform data into actionable information that improves clinical care and outcomes.”
HealthReveal is a healthcare technology company whose mission is to preempt the avoidable consequences of chronic disease. A fundamental component of fulfilling this mission is ensuring patients receive guideline-directed medical therapy. Patients suffering from chronic disease receive guideline-directed medical therapy approximately 50% of the time.1 The consequences are tragic at the individual patient level resulting in avoidable consequences like strokes, heart attacks, heart failure, end stage renal disease and advanced cancer. The consequences are also costly, with approximately 86% of healthcare costs per year due to chronic disease.2 HealthReveal partners with providers, payers and employers to generate patient specific interventions to anticipate and avoid adverse medical events. HealthReveal will also apply machine learning techniques to patient information and leverage the Internet of Things to continually monitor at risk patients.
About GE Ventures
GE Ventures identifies, scales and accelerates ideas that will help make the world work better. Focused on the areas of software, advanced manufacturing, energy and health care, GE Ventures combines equity investing, new business creation, licensing and technology transfer to deliver an innovation platform designed to drive growth for partners and GE. For more information, visit http://www.geventures.com, or follow on Twitter (@GE_Ventures) and LinkedIn.
About Greycroft Partners
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world - New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $800 million and has made over 150 investments since inception in leading companies including Acorns, App Annie, Boxed, Buddy Media, Extreme Reach, Huffington Post, JW Player, Maker Studios, Plated, Scopely, TheRealReal, Thrive Market, Trunk Club, Venmo, and WideOrbit. For more information please visit http://www.greycroft.com.
About Flare Capital Partners
Flare Capital is a team of proven healthcare technology venture capital investors known for their unparalleled strategic industry resources, insight and total commitment to the success of its entrepreneurs. Flare Capital raised one of the healthcare industry’s largest dedicated venture capital funds focused exclusively on early stage and emerging growth investments in healthcare technology innovation and is privileged to closely partner with founders and management. Selected investments include Bright Health, Circulation, ClearDATA, Evolent Health, HealthVerity, Iora Health, Welltok and HealthReveal. Learn more at www.flarecapital.com.
1 McGlynn, EA, Asch, SM, Adams, J, Keesey, J, Hicks, J, DeCristofaro, A, Kerr, EA. The Quality of Health Care Delivered to Adults in the United States, New England Journal of Medicine. Vol. 348, No.26, June 26, 2003
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