TransformativeMed, maker of EHR-friendly clinician coordination and messaging software, has raised $5.8 million in a Series A financing round led by Alliance of Angels.
WHAT THEY DO
Built for use within Cerner hospitals, the company’s CORES Value Suite product platform inserts a handful of clinical workflows for different specialties or conditions into the EHR. The software incorporates machine learning to surface relevant data as the clinician works within the EHR, supports messaging and texting, and can integrate with smartphones to keep clinicians in the loop in case of critical alerts.
TransformativeMed’s platform is active in more than 130 hospitals, according to the company, including Dignity Health, Baptist Health and MedStar.
WHAT IT’S FOR
According to the funding announcement, TransformativeMed will be looking to ramp up its sales and marketing, with the ultimate goal of expanding the country-wide reach of its CORES Value Suite product.
MARKET SNAPSHOT
While TransformativeMed’s out-of-the-box product is specific to Cerner EHR systems, healthcare software maker Olive (which recently closed a $32.8 million financing round) offers an EHR agnostic tool that also uses AI to automate provider workflows. On the messaging side, Spok has a variety of EHR and mobile compatible platforms, the latest of which was announced at this year’s HIMSS conference.
Vital, a new company recently launched by former Mint.com founder Aaron Patzer, is also playing in the EHR workflow/ care coordination space.
ON THE RECORD
“TransformativeMed built its business through clinical word-of-mouth. This intimate clinical connection has provided deep insight into what the market needs, the runway to learn how to deliver a truly turnkey solution to IT, and most importantly — market proof that our EHR-optimization approach works.” TransformativeMed President and CEO Doug Cusick said in a statement. “We are thrilled with the confidence that our investors have in our solution and team and are prepared to jumpstart TransformativeMed’s growth as we redefine the Clinical Communication and Collaboration market with CORES.”
