The amount of electronic information that can be delivered is dizzying — electronic medical records, test results, imaging. But one company believes it has found a way to deliver this information in the context of educational materials to ease patients into a better understanding of a newly diagnosed or updated condition to ensure they process it at a pace that’s manageable. Irish company Lincor Solutions seeks to capitalize on the growing digital footprint patient carry around with them thinks the bedside is a good place to start to help hospitals manage the dissemination of that information.
Edison Ventures in Lawrenceville, New Jersey pumped $9.5 million into Lincor Solutions so the nine-year old company can expand its platform across the US. It will locate its US headquarters in Nashville, TN and maintain research, development and sales offices in Cork, Ireland. The funds will also be used to to support product development, and to provide liquidity for existing shareholders.
Lincor’s MEDIVista platform has secure image archiving, integration to communication, medical records and hospital management systems for hospitals and providers. The company offers patients multimedia entertainment, education and communications services.
“A big challenge in healthcare is data integration,” noted Edison Ventures Principal Lenard Marcus in a phone interview. “What Lincor does is act as a point of consolidation with one window [through] which patients can receive firsthand data and learn more about their disease state and condition and enable physicians and nurses to have bedside conversations with them. In my view…it enables you to have a point of consolidation and the bedside is an ideal place.”
Marcus added that Lincor’s tool can also help boost reimbursement for providers because it can improve adherence, engage patients and reduce the likelihood of needless readmission. Lincor’s products are currently deployed in over 100 hospitals around the world.
Health IT has been a big priority for Edison Ventures in recent years and marks its 30th investment in health IT companies. Health IT businesses that currently number among Edison Ventures’ portfolio companies include pharmaceutical interactive marketing business Cadient, Web-based life science education company ClearPoint, customer data integration provider Health Market Science, Life science contract solutions iContracts, cost management business PHX and Verilogue — a physian patient communication business.