HealthMyne Raises $15 Million in Series B Round to Expand Commercialization Efforts
MADISON, Wis.--(BUSINESS WIRE)--Aug 1, 2018--HealthMyne, the first company to bring multiple enhanced clinical decision support (CDS) workflow modules to Radiology and the Oncology care continuum in a single platform, raised a $15 Million Series B round to expand its global commercialization efforts. Ascension Ventures led the round, with participation from existing institutional backers Venture Investors, 4490 Ventures, and WARF.
HealthMyne’s proprietary algorithms automate the extraction of quantitative imaging metrics at the Point-of-Read, greatly reducing inter- and intra-reader variability and making evidence-based metrics including volume, density, mass, doubling-times, heterogeneity and others available at the Point-of-Care. These volumetric measurements are combined with clinical information from the EMR, PACS, Radiation Therapy and other systems to drive transformed CDS workflow modules (Cancer Screening, Tumor Board Management, Clinical Trials/Therapy Response Assessment, Incidental Findings, Thoracic Specialty, others), actionable quantitative reports, and an integrated imaging and clinical patient-centric dashboard to impact daily patient management decisions.
Arvind Subramanian, President & CEO of HealthMyne states, “The QIDS platform drives collaboration between the Point-of-Read and Point-of-Care by providing the multidisciplinary care team with intuitive, workflow-integrated software that leverages imaging and clinical data to enhance the quality and cost of care. The CDS modules in the platform significantly automate and streamline inefficient and cost-intensive clinical processes to allow busy clinicians to focus their energies on optimizing patient management decisions that make a real impact on patients’ lives.”
“Imaging data offers a tool that’s been significantly underleveraged for care and disease management,” added John Kuelper, Investment Director at Ascension Ventures. “Only a fraction of the available structural information is actually captured in the radiology report and made available to care teams. A rapidly growing pool of radiomics research has the potential to add this quantitative data to better predict disease progression and therapy response, but technical and workflow challenges have prevented community providers from implementing this technology in clinical care. The HealthMyne platform offers a technical infrastructure capable of consistently capturing data at scale and a CDS Point-of-Care application suite that makes this information actionable for specialists, care managers, and researchers.”
Subramanian continued, “There is exceptional interest in the market for an integrated platform that can solve multiple high-impact problems in the diagnosis and treatment of patients across the healthcare enterprise. We are currently making that breakthrough in Oncology, but our roadmap includes expansion into other major clinical specialties over time. Ascension Ventures’ investment is great validation that community health systems are looking for ways to get more clinical yield out of their imaging and CDS investments and partnerships.”
HealthMyne, Inc. (HM; Madison, WI) is focused on delivering Quantitative Imaging Decision Support (QIDS®) for Radiology and Oncology to U.S.-based multi-hospital systems with expansion to non-U.S. markets and other clinical specialties over time. The company’s FDA-cleared software platform’s novel Rapid Precise Metrics (RPM) ™ algorithms deliver Point-of-Read image-derived curated metrics integrated with other clinical systems data (e.g. PACS, EMR, RT) into multiple Point-of-Care workflow modules to ensure timely clinical decision support (CDS) and precise patient management. The QIDS platform provides actionable, patient-centric reports and an integrated clinical and imaging dashboard to optimize collaboration among the multidisciplinary care team. Additionally, the platform’s discoverable database supports data mining and AI-based application development for Precision Medicine/Big Data initiatives and for innovative clinical, translational, and commercial research by both medical centers and pharmaceutical/biotech companies
About Ascension Ventures
Ascension Ventures ( www.ascensionventures.org ) is a strategic healthcare investment firm with four funds and more than $800 million in capital under management. The firm was launched in 2001 by Ascension, the nation’s largest Catholic and non-profit health system, and today invests on behalf of thirteen of the nation’s leading community health systems. These health system limited partners collectively operate 474 hospitals, have 578,000 employees and generate $88 billion in annual revenue. AV collaborates with these partners to identify, invest in, and support strategically aligned private companies that are transforming the healthcare industry and enhancing the experience for patients, their families, and caregivers.
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SOURCE: HealthMyne, Inc.
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PUB: 08/01/2018 09:00 AM/DISC: 08/01/2018 09:01 AM