Health IT, Hospitals, Startups

Pervasive Health raising $26 million to democratize health analytics for hospitals

There is a huge appetite for big data in healthcare not only to get the […]

There is a huge appetite for big data in healthcare not only to get the best assessment on the condition of their patients but also to give hospitals a better understanding of how they stack up to the competition and where they need to improve. One pain point is a need for to make these platforms more manageable and affordable for companies. Chicago based health IT company Pervasive Health is raising $26 million, according to a Form D filing with the Securities and Exchange Commission. The company’s analytics platform, Apervita, is designed to provide ways to make big data interpretation and integration easier across health information exchanges, hospitals and community health partners.

Among the company’s early customers are the Cleveland Clinic and Mayo Clinic, according to Crain’s Business Chicago. The publication did a roundup of the best pitch that a group of investors heard this year. Pritzker Group Venture Capital Partner Adam Koopersmith named Pervasive Health. The platform subscriptions cost about $25,000 for up to 10 people.

Pervasive Health was founded by Paul Magelli, Rick Halton, and Geoff Phillips, in 2012. Magelli and Phillips previously worked for Nokia Siemens after it acquired their UK-based mobile communications business, Apertio, for $240 million. Apertio provided mobile networks with infrastructure to consolidate information about their subscribers.

Koopersmith told Crain’s he was encouraged by Magelli’ and Phillips’ track record as serial entrepreneurs and the desire by former colleagues to work with them again.

He added: “The market is huge, and the pain is real. The existing market for health analytics is $4 billion. That number is expected to grow to $20 billion, and the biggest challenge for most healthcare companies is that analytics are complicated and expensive to implement.”

A description of the Apervita technology on Pervasive’s LinkedIn page listed a few different applications. Providers could use it as a way to convert their medical intellectual property into computable content that could be commercialized through the platform’s Apervita Market channel. Health professionals can browse professionally curated medical content, subscribe to it, and connect their own data sets. The platform is self-service and can be used by non-data scientists

 

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