AirStrip said Tuesday that it has secured $25 million in funding. Gary and Mary West Health Investment Fund, Sequoia Capital and Wellcome Trust led the round. Based in San Antonio, Texas, AirStrip is a provider of mobile healthcare applications.
August 26, 2014 09:00 AM Eastern Daylight Time
SAN ANTONIO–(BUSINESS WIRE)–AirStrip®, the leading provider of mobile healthcare applications that drive clinical transformation, has raised $25 million in a strategic funding round led by the Gary and Mary West Health Investment Fund, Sequoia Capital and Wellcome Trust that includes some of the most influential leaders in healthcare.
Hospitals are being overwhelmed by a flood of clinical data from multiple disparate sources, and their legacy IT systems are not equipped to manage the information and make it useful. AirStrip solves this challenge by integrating clinical data and making it accessible on mobile devices. Adoption of AirStrip’s interoperable mobility solutions are taking off, enabling clinicians and health care executives to provide better care, increase efficiency and reduce costs.
The funding will support the continued growth of the patent-protected AirStrip ONE® mobile technology solutions, expansion into the home health space, internationalization efforts, and accelerated integration with industry-leading analytics engines.
In addition to AirStrip’s existing investors, including Sequoia Capital, Wellcome Trust, Hospital Corporation of America (HCA) and Qualcomm Inc., new investors include:
Dignity Health, a current AirStrip customer and one of the nation’s largest health care systems, is a 20-state network of nearly 9,000 physicians, 55,000 employees, and more than 380 care centers, including hospitals, urgent and occupational care, imaging centers, home health, and primary care clinics. Dignity Health previously selected AirStrip for clinical transformation initiatives in 2013.
“At Dignity Health, we’re focused on the importance of innovative technologies to increase the quality of care, improve the patient experience, and reduce health care costs,” said Richard Roth, VP of strategic innovation. “AirStrip is a great example of next generation digital health technology that helps providers harness real-time data and apply it in ways that help our clinicians, patients, and caregivers make better day-to-day decisions about care.”
St. Joseph Health (SJH), a current AirStrip customer and not-for-profit health system providing care to communities throughout California, Texas and eastern New Mexico. Their services include 16 acute care hospitals, as well as home health agencies, hospice care, outpatient services, skilled nursing facilities, community clinics and physician organizations.
“At St. Joseph Health, we look to health care innovations that will empower physicians to have the data they need to make the best possible clinical decisions,” said Darrin Montalvo, President of Integrated Services. “We are encouraged by AirStrip’s ability to offer doctors real-time information via mobile devices. This type of technology will help us better partner with our caregivers to achieve our goal of providing outstanding care to the patients and communities we serve.”
The Gary and Mary West Health Investment Fund, which invests in businesses that share the mission of West Health—pioneering new and smarter technologies, policies and practices, to make high-quality healthcare more accessible at a lower cost to all Americans.
“AirStrip is helping demonstrate how innovative, interoperable technologies can be integrated into the healthcare system to help transform how and where care is delivered to patients,” said Nicholas Valeriani, manager of the West Health Investment Fund and chief executive of West Health. “Reimagining healthcare delivery with smarter technologies and practices like these are fundamental to addressing the cost crisis in healthcare.”
Leerink Partners is a leading investment bank, specializing in healthcare. Leerink’s knowledge, experience and healthcare focus enable them to help corporate and investor clients define and achieve their strategic, capital markets and investment objectives.
“At Leerink, we partner with companies that develop and commercialize innovative products and services that are defining the future of healthcare,” said Jim Boylan, Senior Managing Director and Head of Investment Banking. “AirStrip’s advances in mobility are changing how healthcare is delivered today by making information available to care teams anytime, anywhere.”
“The success of this investment round shows deep industry support and validation of the AirStrip strategic vision,” AirStrip CEO Alan Portela said. “Right now one in six babies born in the U.S. is monitored with AirStrip, and at-risk patients were monitored 1.2 million times in 2013 alone using AirStrip. The market has responded with great enthusiasm to what we have accomplished to date. We expect to take our mHealth leadership to new levels with upcoming announcements around real-time processing and clinical data analytics. We are honored to announce that some of the most visionary and innovative leaders in healthcare are joining us to deliver on the promise of true mobile interoperability on a global scale.”
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AirStrip® (www.airstrip.com) provides a complete, vendor- and data source-agnostic enterprise-wide clinical mobility solution, which enables clinicians to improve the health of individuals and populations. With deep clinical expertise and strong roots in mobile technology and data integration, AirStrip is empowering leading health systems globally as the industry continues to evolve at a rapid pace. Based in San Antonio, Texas, AirStrip allows health systems to unlock the full potential of their existing technology investments with a complete mobility solution that provides access to critical patient data across the care continuum. AirStrip is backed by investments from Dignity Health, St. Joseph Health, the Gary and Mary West Health Investment Fund, Sequoia Capital, Qualcomm, Inc., Leerink Partners, Hospital Corporation of America (HCA) and the Wellcome Trust. AirStrip’s base of visionary customers includes HCA, Texas Health Resources, Tenet Healthcare, Dignity Health, St. Joseph Health and Ardent Health Services.