Redox, a health IT startup formed by former employees of Epic Systems, has raised $3.5 million as part of a Series A round to grow its health system customers and add some staff.
The company developed an API for health IT companies so their software tools can be more easily integrated by health systems’ disparate EHRs.
.406 Ventures led the round along with participation by Flybridge Capital Partners and HealthX Ventures.
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
Redox CEO and co-founder Niko Skievaski addressed its investment priorities in response to emailed questions.
“We’re looking to grow our network of integrated health systems and applications. There are already over 130 organizations developing to our API specifications.”
Asked if the business planned to use the funding to increase staff numbers, he said:
“We’re not going to go out and hire a gaggle of people right off the bat. However, we do need to grow to meet up with the demand. Primarily, hiring will take place on the sales, customer success, and development teams. We currently have five employees in Madison and five scattered throughout the country. I imagine we’ll take things slowly on opening new locations based on where our employees want to live. We also have desk space in Houston at TMC|X and in Chicago at MATTER.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Earlier this year the company launched a gallery to showcase some of its 130 partners’ applications.
Skievaski highlighted Gauss Surgical as an example of a customer with a tech application that went beyond its initial vision for what companies would produce.
“They make a great iPad app that accurately measures blood loss. We help them put the value back into the EHR. We didn’t initially envision helping such sweet devices.”
