Raleigh, North Carolina-based Axial Exchange, a mobile app developer, raised just under $5 million from undisclosed investors, according to an SEC filing. Axial Exchange is backed by a syndicate of venture capital firms, led by Canaan Partners.
The company recently announced a series of enhancements to its mobile patient engagement app which include prioritizing elements related to day-to-day health management including medication adherence, access to all health system resources available to patients, and a new design approach that focuses users on the health information, instead of the design elements of the app.
Axial offers hospitals a way to keep their patients continuously engaged by giving patients the information and interactive tools needed to the patient’s device. Patients can use the apps developed by Axial to share their health information with providers and care givers. Health systems benefit via lower readmissions and improved patient satisfaction scores, according to the company.
Last year, Axial acquired Mayo Clinic mobile health startup mRemedy, although they did not disclose financial terms of the deal. As part of the agreement Axial Exchange also gained access to content from MayoClinic.com that it planned to incorporate into its patient-facing wares. Before the acquisition, Central Baptist Hospital signed on as mRemedy’s first client and later hired Axial Exchange.
Other hospitals that have hired Axial Exchange include Parrish Medical Center, AtlantiCare, WakeMed, Colorado Health Medical Group, and Avera McKennan Hospital and University Health Center.