Redox Raised $45M To Connect Healthcare Data In The Cloud
The Redox cofounders got a taste of the coming digital health revolution while working at Verona, Wisconsin-based Epic Systems in the late aughts. That’s when they saw the hundreds of different interfaces electronic health records needed to connect to within a health system. “There was this big disconnect between the world of electronic health records and the world of new cloud-based software,” says Skievaski, the president of Redox.
The trio met not through their day jobs but through an “intrapreneurship” program inside Epic that fostered collaboration on innovative projects. Skievaski was the first to leave in 2013 and began working on a startup. He and Lloyd soon founded a co-working space in downtown Madison called 100state, which later launched an incubator called 100 Health. “Epic is the largest employer in that whole county with 10,000 plus employees, and there wasn’t an ecosystem of people starting health tech companies around Madison,” says Skievaski. “It just seemed like there should be.” Bonney came onboard in February 2014 and by the end of that year, Redox was born.
Bonney is the only one of the three cofounders who still lives in Wisconsin. The company had a remote work policy from the very start and has grown to 130 employees. While Redox saw an initial slow down of integrations at the start of the Covid-19 pandemic, there was soon a huge demand for telehealth companies that wanted to connect to health systems, ranging from tiny startups to publicly-traded firms. Redox customers pay a license fee and then a connection fee based on the total number of hospitals, which gives software developers “a predictable pricing model,” says Bonney, as opposed to the per transaction fee charged by similar companies.
Japan-based Omron, which makes home blood pressure monitoring devices, started working with Redox on clinical integrations a year and a half ago as part of a pilot for its remote patient monitoring program, which officially launched in January. “What Redox allows us to do is bolt on to exactly how [the provider] is already operating,” says John Lustig, Omron’s director of remote patient monitoring and clinical programs.
Redox is electronic health record agnostic, meaning it helps Omron connect its remote patient monitoring software VitalSight to more than 50 different records systems. “Redox enables us to flag out of range readings and send them back in triggering an alert notification,” says Lustig. The doctor doesn’t have to use another interface or app. Everything is centralized in the electronic health record they are already used to using.
“The interesting thing about us is it’s not just about getting new customers, a huge part of our growth is the expansion of existing customers,” says Bonney. The members of Redox’s network currently integrate more than 12 million patient records daily. “We grow as our customers grow, and the total number of connections that we help them enable.”
