Health IT, Hospitals, Startups

GE Ventures, Baird fuel Apervita’s push to expand ‘health analytics marketplace’

Apervita found its partners for its big investment round, announcing Wednesday that GE Ventures and […]

Apervita found its partners for its big investment round, announcing Wednesday that GE Ventures and Baird Capital provided the lions share of an $18 million investment to scale the health analytics company.

The company, which used to be called Pervasive Health, said it will use the funding to further develop its technologies, expand sales and marketing and “address growing market demands.” Chief Marketing Officer Rick Halton said Apervita’s marketing will begin to focus more on primary and secondary carer providers in the United States.

Its customer base currently consists of major academic medical centers and big research groups, such as Mayo Clinic and The Leapfrog Group, Halton said. Its web site also suggests pharma and health insurance companies could leverage the service.

Apervita describes itself as the “first health analytics marketplace.” Essentially, the company has created a place where health systems can upload and then share what have largely been siloed approaches to data crunching and analytics with other health systems. Think of it like a publishing platform but instead of for medical journals its for analytics.

Apervita charges a subscription fee for the platform, starting in the thousands of dollars. Authors set the subscription fee for their content and Apervita takes a small revenue share.

The company promises its approach will deliver life-saving analytics approaches faster to caregivers, while selling the analytics solutions at a greatly reduced price.

Pritzker Group Venture Capital and Math Ventures participated in the round. An SEC filing had suggested the company could have raised up to $26 million. Halton said the company is considering expanding the Series A round in the future.

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