Xealth Secures Additional $3 Million in Series A Funding to Advance Digital Health Platform Development

VCBeat (WeChat ID: vcbeat) learned from foreign media that on June 20, U.S. local time, digital health company Xealth announced the completion of an additional $3 million in Series A financing, bringing the total amount raised in this round to $14 million. The additional funding was provided by Atrium Health, Cleveland Clinic, and MemorialCare Innovation Fund. The proceeds from this financing round will be used to advance the development and application of Xealth’s digital health platform.

It is reported that in March this year, Xealth completed an $11 million Series A financing round. In addition, Xealth completed an $8.5 million seed financing round in 2017.

Xealth is a digital health company headquartered in Washington State, USA, that provides medical information integration services to healthcare organizations. The Xealth digital health platform can be embedded into electronic health record (EHR) systems, enabling clinicians to develop appropriate care plans for patients directly within their workflow and deliver these plans to patients’ mobile devices or computers. The platform then monitors patient engagement and outcomes. Furthermore, it integrates data related to patient education, transportation, and meals, allowing for the monitoring and analysis of which care plans are effective and how they can be optimized.

“Atrium Health has always been committed to providing patients with the best care using innovative solutions,” said Dr. Rasu Shrestha, Executive Vice President and Chief Strategy Officer at Atrium Health. “Xealth can help us bridge the gap between clinicians’ workflows and patients’ daily lives, significantly improving the patient experience.”

“Xealth’s technology enables us to integrate digital health tools into clinical workflows, enhance the patient experience, deliver appropriate solutions to patients, and allow analysts to monitor outcomes in real time,” said Peter Rasmussen, MD, Medical Director of Remote Health at Cleveland Clinic.

“The transition to value-based healthcare requires deeper collaboration between healthcare institutions and patients,” said Brant Heise, Managing Director of the MemorialCare Innovation Fund. “We believe Xealth’s value lies in how it collaborates with healthcare institutions to enable them to deliver better care more effectively.”

“Xealth collaborates with various enterprises across the healthcare industry, including suppliers, pharmaceutical companies, and medical device manufacturers, striving to rapidly become their preferred digital health integration platform,” said Mike McSherry, CEO of Xealth. “By investing in Xealth and advancing their respective digital health strategies, Atrium Health, Cleveland Clinic, and MemorialCare are demonstrating their commitment to patients.”

Atrium Health is an innovative healthcare organization providing comprehensive medical and health services across North Carolina and South Carolina in the United States, with a diverse network of more than 900 points of care, including academic medical centers, hospitals, healthcare pavilions, physician practices, surgical and rehabilitation centers, home health agencies, skilled nursing facilities, and hospice care.

Cleveland Clinic is a nonprofit academic medical center that integrates clinical and hospital care with research and education. Cleveland Clinic’s mission is to provide better patient care, investigate their problems, and deliver further education to those it serves.

The MemorialCare Innovation Fund is a strategic investment vehicle affiliated with the MemorialCare Health System. MCIF focuses its investments on early- to mid-stage companies in the fields of medical devices, healthcare information technology, or healthcare services.

(Compiled by Zhang Xiaoxu)