AdaptX Raises $10M to Expand its AI-Driven Medical Data Analysis for Healthcare Providers

AdaptX, a Seattle tech company that uses AI to help healthcare providers analyze medical data to improve patient care, raised an additional $10 million to support its growth and further invest in its technology. Led by investment firm Cercano Management, the new funding brings the company’s total amount raised to more than $20 million. Other investors in the round included Memorial Hermann Health System and Morningside Ventures, plus prior AdaptX investors Founders’ Co-Op, Fortson VC, Star Equity, and WRF Capital. Self-serve tools developed by AdaptX let clinical leaders analyze data from their electronic medical records to detect patterns and trends that might indicate ways to improve care or reveal inefficiencies in how care is delivered. For example, AdaptX can indicate if one approach to patient care is resulting in better outcomes than another, or identify disparities in treatment. The fundraising round “was oversubscribed despite the challenging economic environment,” said Warren Ratliff, AdaptX CEO, in a news release. Cercano Management was spun out of Vulcan Inc., the late Microsoft Co-Founder Paul Allen’s investment company, as a standalone investment firm last year. Vulcan Capital led AdaptX’s Series A investment round. Houston-based Memorial Hermann, with 17 hospitals in Southeast Texas, is using the AdaptX technology, in addition to investing in the Seattle company. AdaptX, originally known as MDMetrix, was started in 2016 by a pediatric anesthesiolo...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT AdaptX Cercano Management Dr. Dan Low Fortson VC Health IT Funding Health IT Fundings Health IT Investment MDMetrix Memorial Hermann Health System Morningside Ventures Paul Allen Star Equity Vulc Source Type: blogs