Health IT Company Twistle Secures $16M Series A Funding to Enhance Patient Care Services

On October 29, 2019, VCBeat (WeChat ID: vcbeat) learned that health IT company Twistle announced the completion of a $16 million Series A financing round, jointly invested by Health Enterprise Partners (HEP) and MemorialCare Innovation Fund (MCIF).

This round of financing will be used to fulfill Twistle’s vision of helping care teams meet each patient’s needs by enabling timely service actions through automated notifications. Twistle aims to accelerate its expansion in the healthcare provider and life sciences markets, driving innovation with a focus on human-assisted automation to help partners continuously improve patient care services.

Twistle, established in 2011, is a leading healthcare platform in the United States. The platform empowers patients to actively participate in every stage of their care journey. Twistle integrates Internet of Things (IoT), mobile communication, and artificial intelligence (AI) technologies into a unified, streamlined platform. By automatically delivering personalized information to patients, it facilitates easier access to necessary treatments, thereby accelerating patient recovery.

A key factor in Twistle’s application is its ability to deliver customized services tailored to the exact specifications of health systems or life sciences companies, thereby achieving desired outcomes and KPIs. Enterprises can freely innovate on Twistle’s process automation platform by configuring new service modules—such as mobile messaging apps, patient portals, interactive voice response (IVR) systems, and simple, secure text messaging—to engage patients and consumers.

After downloading the Twistle app, patients can receive educational materials, reminders, checklists, surveys, communication tools, and more, all customized by their provider’s care team. The aim is to streamline care management by delivering the right information through the app at the appropriate time.

Health Enterprise Partners and MemorialCare Innovation Fund are jointly committed to delivering large-scale intelligent transformation solutions for the healthcare industry. Kulmeet Singh, CEO of Twistle, stated, “We are particularly impressed by their partnerships with leading healthcare providers and payers, as well as their track record of helping innovative health technology companies succeed. We believe they are the ideal partner to help us usher healthcare into a new era of communication efficiency.”

Brant Heise, Managing Director of the MemorialCare Innovation Fund, stated that Twistle’s technology has had a significant impact on patients. He said, “Large health systems face a dizzying array of applications, each targeting different diseases or conditions and offering unique user experiences. Twistle enables health systems to eliminate many disparate solutions and consolidate them into a single platform integrated with their existing IT ecosystems. By facilitating communication on this platform, patients enjoy an improved user experience, while data collection for the platform becomes simpler.”

Health Enterprise Partners (HEP), founded in 2006 and headquartered in New York, USA, is a healthcare-focused private equity firm that specializes in investing in healthcare services and biotechnology companies, with its clients typically being hospitals or health service providers.

MemorialCare Innovation Fund (MCIF) is a strategic healthcare investment fund wholly owned by MemorialCare Health System. Its goal is to accelerate the delivery of entrepreneurial solutions for the U.S. healthcare system by investing in early- and mid-stage companies focused on innovations in health information technology, healthcare services, and medical devices.

(Compiled by Wang Fang)