Xealth, a Seattle, Washington-based digital prescription platform, as per recent reports, has raised an additional $3 million in its Series A investment funding. With this recent investment, the company has in total raised $14 million in financing from this round.
The round saw participation from Xealth’s new investors Atrium Health, Cleveland Clinic, and MemorialCare Innovation Fund, who joined McKesson Ventures, Novartis, Philips, ResMed, Threshold Ventures (formerly DFJ Venture), Providence Ventures, UPMC, and Froedtert and the Medical College of Wisconsin health network. The company plans on utilizing these recent Series A investments, to fund the development and deployment of the Xealth platform for digital health programs.
Xealth, which spun out of Providence St. Joseph Health (PSJH) in 2017, helps clinicians with prescription and monitoring of digital healthcare content, apps, devices, and services from within their native electronic health record (EHR) charting interface, and integrates all patient interaction into the existing patient portal of a health system. Furthermore, the Xealth platform facilitates caretakers and physicians with the ability to monitor patient engagement and analyze the effects of more engaged patients.
“Fast becoming the preferred digital health formulary, Xealth works with stakeholders across all areas of health care, including providers, payors, pharma, devices, and supply chain,” states Mike McSherry, CEO of Xealth. “This gives Xealth insight and perspective that advances digital health strategies in a way that optimizes outcomes and assists physician workflows. By investing in Xealth and working with the company to advance their own digital health strategies, Atrium Health, Cleveland Clinic and MemorialCare are demonstrating their commitment to the patient experience.”