Xealth Secures $24 Million in Series B Funding to Accelerate Digital Health
Xealth, the leader in enabling digital health at scale, today announced that the company has secured $24 million in Series B funding led by Advocate Aurora Enterprises, a subsidiary of Advocate Aurora Health. Seven additional health systems – Banner Health, ChristianaCare, Cone Health, Memorial Hermann, Nebraska Medicine, Novant Health and Stanford Health Care – join existing health system investors Atrium Health, Cleveland Clinic, Froedtert & MCW Health Network, MemorialCare Innovation Fund, Providence and UPMC. This brings the company’s total funding to date to $52.6 million.
Use of digital therapeutics and remote patient monitoring is accelerating as they help fill a necessary role in extending care options for patients, with a Juniper Research study predicting that the number of people using digital therapeutics and wellness apps will grow from 627 million in 2020 to more than 1.4 billion in 2025.
Available to more than 100,000 physicians, Xealth’s digital health platform serves a critical role in bringing digital health into clinicians’ workflows, an essential element for program success. Tightly integrated with electronic health records (EHRs), the platform supports care teams to personalize digital solution ordering with one click and helps to elevate the patient experience. Funding from this round will fuel growth of the company’s team, approximately doubling its size. It will also support product innovation, including further enhancing its intelligence engine to better help health systems determine which tools are working best with which patients, further enabling the scale of Xealth’s deployment across the US.
The Xealth platform delivers centralized integration, prescribing, monitoring and governance for digital health tools from current clinician workflows, demonstrating a 50-80 percent reduction in integration and deployment costs, and substantial patient engagement with digital assets. Hospitals and providers can also leverage intelligent automation and gain insight into how each tool is performing with patients. Patients can be enrolled in beneficial programs and share information directly with care providers through the EHR.
The Health Management Academy, which brings leading health systems and industry partners together to address the industry’s biggest opportunities, helped initiate this round. Together with its members, The Academy identified Xealth as a pivotal digital health solution, creating a network effect that would benefit multiple members.
“As leading health systems pursue digital health innovation, they recognize the need to simplify the experience for physicians and streamline the process of integrating data. Xealth is a proven digital solution that addresses these challenges and enables systems to be more nimble in creating a world class digital patient experience,” said Matt Gunther of The Health Management Academy.
Spun out from Providence in 2017, Xealth has backing from 14 health systems and full integrations with the largest EHR vendors. Additional investors include Cerner, LRV Health, Threshold Ventures, McKesson Ventures, Novartis, Philips, and ResMed.
Xealth Secures $24 Million in Series B Funding to Accelerate Digital Health
