Every day, the U.S. healthcare system has to deal with inefficient care processes and substantial operational costs. In order to address these problems, Lumeon partners with healthcare organizations to support next-generation care and automate their systems and processes. As a result, Lumeon has become a leader in Care Pathway Management (CPM).
Lumeon has raised $28 million in funding led by Life Sciences Partners (LSP) — which is one of the largest healthcare investment companies in Europe. MTIP also participated in this round along with current investors Gilde, Amadeus Capital Partners, and IPF Partners. And Cedars-Sinai Medical Center is continuing to maintain a strategic investment in Lumeon. Lumeon participated in Cedars-Sinai’s fall 2017 accelerator program:
“As a market, the U.S. has made significant investment in care documentation systems, but it has never experienced the cost pressures that we have grown up with in Europe,” said Lumeon founder and chief executive Robbie Hughes. “There is an urgent need for care delivery optimization which can only be solved by thinking holistically about the patient pathway.” Hughes continued, “Hospital CIOs don’t want to buy more point solutions, they need enterprise-wide capability that allows leadership to deploy best practice quickly and repeatedly at significant scale. Lumeon has created the market for Care Pathway Management, and this investment will accelerate our penetration into the biggest healthcare market in the world.”
Lumeon will be using the funding to grow its U.S. team in Boston, scale commercial operations, and accelerate customer deployments in the area. Lumeon’s CPM platform deploys personalized care pathways combining intelligent orchestration and automation. And it builds on existing Electronic Health Records (EHR).
“After an extensive look at 100 companies in digital health, we invested in Lumeon with complete confidence,” added LSP managing partner Rudy Dekeyser. “Lumeon is leading a transformation in healthcare delivery, with a commercially validated and results-driven product platform that improves any patient’s journey in any healthcare system. We believe that Lumeon’s Care Pathway Management solution, and the way it significantly impacts cost, efficiency – and, importantly – quality of care, will become an inherent component of modern and sustainable value-based healthcare.”