Xealth Secures $11 Million Series A Funding to Expand Its Digital Prescription Platform

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on March 28, U.S. local time, digital health company Xealth completed an $11 million Series A financing round. The funds will be used to expand Xealth’s patient information monitoring platform to better connect patients and physicians.

It is reported that this round of financing was jointly completed by McKesson Ventures, Novartis, Philips, ResMed, and Xealth’s existing investors Threshold Ventures, Providence Ventures, UPMC, and the Medical College of Wisconsin Health Network.

Xealth is a digital health company that provides healthcare information integration services. Xealth enables clinicians to easily consolidate patient data through workflows provided by its platform and leverage this data to monitor patients’ health status. This information includes patients’ educational engagement, usage of third-party online applications, use of electronic devices, and interactions with other non-clinical services, such as ride-sharing, grocery purchases, and e-commerce product recommendations. Using the Xealth platform, care teams and physicians can monitor patient engagement across various activities and analyze how different behaviors impact patient health. Spun out from Providence Ventures in 2017, Xealth raised $8.5 million from a range of investors, including Threshold Ventures (formerly DFJ Venture), Providence Ventures, and the Froedtert & Medical College of Wisconsin Health Network.

Xealth provides a direct communication platform for physicians and patients. Healthcare teams can access relevant digital content and services by prescribing Xealth, thereby issuing e-prescriptions for condition-specific resources. Patients can locate these e-prescriptions on the Xealth platform to manage their health more effectively. Xealth enables clinicians to monitor patients’ digital health content, connected devices, and lifestyle services directly from their electronic health records (EHR), integrating this information seamlessly into Xealth’s existing patient portal. These capabilities allow digital care solutions to deliver more targeted improvements in the quality of patient care.

“This funding comes as we further develop our platform technology to adapt to the rapidly growing digital health market,” said Mike McSherry, CEO of Xealth. “We have witnessed advancements ranging from device monitoring to companion applications for traditional medical care. We believe the market currently demands the integration of physician and patient information, streamlined communication channels, and the delivery of proven therapeutic prescriptions.”

ResMed is a global leader in connected health, having integrated sleep apnea treatment data into more than 1,000 third-party systems, including hospital EHRs, thereby enabling clinicians to access data more rapidly, deliver more direct care, and improve patient outcomes.

McKesson Ventures is a healthcare services and information technology company dedicated to advancing the healthcare business. McKesson Ventures collaborates with hospitals, medical teams, pharmacies, pharmaceutical companies, and various other healthcare institutions to build healthier healthcare organizations and deliver better care to patients across different regions.

Novartis is a global healthcare company headquartered in Switzerland, providing solutions to meet the evolving needs of patients worldwide. Novartis’s mission is to discover new ways to extend human life.

Threshold Ventures was founded in 1999 by former venture capitalist Jon Baer. Baer noted that while startups could secure funding, they lacked sufficient resources to address the management, strategic, and operational challenges typically faced by early-stage companies. Threshold Ventures provides such support to startups.

Providence Ventures is a non-profit Catholic healthcare organization dedicated to meeting the broad needs of the communities it serves, with a particular focus on the poor.

UPMC is one of the leading nonprofit health organizations in the United States, a comprehensive global health enterprise headquartered in Pittsburgh, Pennsylvania.

(Compiled by Liu Yujing)