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Providence, a big not-for-profit Catholic healthcare system, introduced the launch of Praia Well being, a shopper platform for healthcare techniques, alongside the closing of a $20 million oversubscribed Sequence A funding spherical.
Frist Cressey Ventures led the spherical with participation from Epsilon Well being Traders, Windfall Ventures and SignalFire.
Navid Farzad, companion at Frist Cressey, and Sara Vaezy, Windfall’s chief technique and digital officer, joined the newly shaped firm’s board of administrators.
Yuanling Yuan, a companion at SignalFire, and Justin Dearborn, Praia Well being’s CEO, additionally joined the board.
WHAT IT DOES
Praia Well being is a shopper platform for well being techniques. It provides a low-code ecosystem to ease entry to third-party shopper choices at scale by easing their integration right into a well being system’s digital expertise.
The corporate manages the info trade between the well being system’s digital medical report platform and their different information sources and the digital well being resolution.
The corporate launches with seventeen digital well being companions in its ecosystem, together with Wellthy, Omada Health, Medibridge, Livara Well being, Atlas Health, DexCare, Kyruus Health, Foodsmart, Rosarium Well being, Vale Well being, Wildflower Health, Cedar, Season Health, Xealth, Validic, Modivare and Fortuna Well being.
The startup is the fourth incubated expertise from Windfall Digital Innovation Group, a well being innovation middle inside Windfall during which Dearborn, Praia’s CEO, serves as executive-in-residence.
“Partnerships and cross-industry collaboration are new imperatives for well being techniques, and an open, environment friendly platform for information sharing and shopper engagement is a prerequisite that hasn’t existed,” Dearborn mentioned in a press release.
“There may be deep worth related to streamlining the supply of the broad spectrum of consumer-facing options {that a} well being system needs to deploy right this moment–each operationally and from a affected person and caregiver satisfaction perspective. We’re excited to see that each well being techniques and digital well being resolution corporations are already recognizing the worth as properly.”
MARKETPLACE SNAPSHOT
Quite a few healthcare techniques have launched spin outs, increasing the digital well being ecosystem.
Mount Sinai Health launched Sema4, a spin spinout growing health-data-analytics platforms. In 2020, Sema4 raised $121 million in Series C funding, bringing its valuation to over $1 billion.
Boston Children’s Hospital spinout Mightier makes biofeedback video video games to assist kids with emotional regulation.
Johns Hopkins launched Vixiar, a tablet-based point-of-care system for assessing cardiac filling stress, and Mount Sinai Health System’s spinoff OOVA focuses on fertility and girls’s well being.
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