Health Catalyst Raises $41 Million
Health Catalyst is a company that focus on providing big data solutions for the healthcare industry. This past January, Health Catalyst has raised $33 million in Series B funding from Norwest Venture Partners, Sequoia Capital, and Sorenson Capital. Earlier this week, Health Catalyst added more investors, including Kaiser Permanente Ventures and CHV Capital. The company has raised a total of $41 million.
Hospitals are known for using warehouse software, but moving electronic health records (EHRs) to the cloud can be challenging. One of the mandates in Obamacare is that health providers are required to transition to digital health records over the next two years. This is why the quality of EHRs is becoming a huge deal. Health Catalyst believes that they are positioned to take advantage of Obamacare’s mandates and help providers pull data efficiently from their EHR systems.
“Kaiser Permanente Ventures’ mission to partner with entrepreneurial companies to advance clinical quality, service and affordability closely matches Health Catalyst’s own goals to help hospitals standardize around the safest, most effective care practices while also reducing inefficiencies,” stated Health Catalyst CEO Dan Burton. “Like Kaiser Permanente Ventures, CHV Capital represents an ideal partner for Health Catalyst — a strategic investor with direct ties to one of the country’s most innovative, data-driven health systems. In addition to gaining a financial partner in CHV Capital, our commercial and development relationship with Indiana University Health will enable both organizations to accelerate our shared goal of being leaders in delivering patients the highest quality of care through the most cost efficient means possible. We are excited to welcome both investors and look forward to leveraging their organizational expertise and resources to help take Health Catalyst to the next level.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry