Earlier this year ContextMedia changed its name to Outcome Health, a name that we were told at the time “represents the company’s aspiration to activate the best health outcome possible for every person in the world”, well following on from that, the company has announced that it has raised, we quote “Financing at $5 Billion Valuation to Accelerate Growth and Transform Healthcare”.
This is the company’s first-ever round of funding. Outcome Health, partners with healthcare providers to serve actionable health intelligence at the moment of care to improve patient outcomes, announced a financing round valuing the company at $5 billion pre-money, to expand its impact from 20% to 70% of all U.S. physician practices by 2020.
The size of this investment and the quality of participants strongly positions the company to also drive growth across emerging opportunities such as clinical trials, payers, pharmacies and international markets. Investors include Goldman Sachs Investment Partners, Alphabet’s growth equity investment fund CapitalG, Leerink Transformation Partners, Pritzker Group Venture Capital and Balyasny Asset Management, among many others, as well as strategic health systems and healthcare stakeholders aligned with the company’s mission.
Rishi Shah, CEO of Outcome Health told us “Outcome Health and its investors share a commitment to activate the best health outcome possible for every person in the world. We believe achieving this at scale will require building a ubiquitous network that brings together all sides of healthcare to support patients and healthcare providers whenever, wherever and however they make critical healthcare decisions,” said “We are grateful to have been entrusted to realize this vision by so many important stakeholders. Together, we have the opportunity to create the exam room of the future, physically and digitally, and evolve healthcare decision making from the currency of information to the currency of intelligence.”
One of the company’s exam room technologies is its Digital Anatomy Board, which facilitates effective communication through 3D anatomical diagrams that physicians can annotate during patient consultations to visualize the patient’s medical condition, related symptoms and treatment options.
The company is aiming to transform the patient experience while empowering healthcare providers to achieve the transition towards value-based care. Christopher Dawe, co-head of the Venture Capital and Growth Equity team at Goldman Sachs Investment Partners said “Outcome Health is improving the point-of-care decision-making process that leads to better healthcare outcomes. This investment is consistent with our broader philosophy of backing mission-driven teams who are bringing positive transformation to large addressable markets.”
Laela Sturdy, partner at CapitalG, Alphabet’s growth equity fund was also quoted as saying “We are thrilled to be partners to Outcome Health and to support their growth as they deploy their health intelligence platform in physician consultation rooms around the world”.
Outcome Health’s innovative model is based on aligning industry incentives to drive synergies amongst all healthcare stakeholders via patient-centric technology solutions that deliver measurable improvement in health outcomes.
The company, founded in 2006 by Rishi Shah and Shradha Agarwal, partners with 231,000 healthcare providers nationwide to impact 500 million patient visits annually. Outcome Health has offices in Chicago and New York City, employing more than 600 people, and partners with large healthcare systems, private physician practices, medical associations, global life sciences companies as well as pharmacies and payers.