Diameter Health Raises $2.1 Million Investment
Leading provider of clinical analytic solutions will aggressively expand team, product portfolio and customer success initiatives to serve rapidly growing market
Farmington, CT – Diameter Health, a leading provider of clinical intelligence – healthcare analytics that improve patient care with a measurable return on investment, today announced it has completed financing of $2.1 million. Investors include Connecticut Innovations, Milestone Venture Partners, Excelerate Health Ventures, and Long River Ventures.
This growth capital will enable the company to accelerate product development as well as expanding the company’s infrastructure while adding resources to implementation, support and quality. The expanded team reflects Diameter Health’s commitment to innovation, client relationships and service excellence.
“Diameter Health has a number of key attributes and differentiators that attracted us to invest in the company,” said Tripp Peake, General Partner at Long River Ventures. “Their technology is not only extremely innovative, but they also solve critical real-world problems that health systems, health information exchanges, accountable care organizations and payers face every day.”
Diameter Health is disrupting healthcare through clinical insight derived from information available from any certified EHR. The company’s SaaS platform and web based solutions unleash the power of data previously held captive in disparate medical records.
- Diameter transforms and enhances raw data into clinical intelligence while the patient is still in the hospital
- Powerful predictive models identify high risk patients most likely to be re-admitted, fall or suffer other adverse events to enable improved patient care, while avoiding penalties
- Analytic tools identify gaps in documentation to more accurately represent patient’s risk profile and support appropriate reimbursement, while enabling improvements in clinical processes
“Diameter Health’s market momentum is poised to accelerate in the area of clinical intelligence,” said Matt Storeygard, director of investments at Connecticut Innovations. “As an investor, we are always looking for companies who are ahead of the curve and Diameter has a solution that can have a positive impact on patient care and increased revenues for providers.”
With increasing demand for healthcare solutions which deliver quick results without costly integrations or massive data warehouses, Diameter Health’s platform provides “double bottom line” returns, enabling better patient care and reducing penalty payments, while also increasing reimbursement through identification of missing documentation critical to accurate patient risk adjustment.
“Our platform has enabled our clients to leverage their significant investments in electronic health records by providing automated, actionable and highly accurate analytics,” said Eric Rosow, chief executive officer of Diameter Health. “As we move forward, Diameter will introduce more solutions to help clients increase the quality of patient care, reduce penalty payments, optimize reimbursements and improve outcomes, which is a win for patients and providers alike.”
About the Investors
Connecticut Innovations: CI is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. With the addition of its Small Business Innovation Team in 2009 and our merger with the Connecticut Development Authority—the state’s lender—in 2012, CI now proudly serves great Connecticut companies, no matter what stage of growth they’re in. More information about CI is available at www.ctinnovations.com.
Excelerate Health Ventures: Excelerate Health Ventures was founded by experienced entrepreneurs with extensive startup and investment experience. The firm consists of a hands-on, roll-up your sleeves and make it happen operational team. In addition to the team’s general experience in healthcare and venture capital, Excelerate Health Ventures has specific scientific, business, financial, intellectual property and start-up experience that benefits its portfolio companies and co-investors. More information is available at www.exceleratehealth.com.
Long River Ventures: Long River Ventures invests in seed and early stage companies in healthcare, IT, and other technology-driven sectors. Formed by a group of experienced entrepreneurs and venture capitalists, Long River is designed and structured to invest smaller amounts of capital with typically initial investments of $500,000 to $1MM. The firm backs exceptional entrepreneurs who are focused on building capital efficient businesses. More information is available at www.longriverventures.com.
Milestone Venture Partners: Milestone Venture Partners is an early stage venture capital fund with $135 million under management. The firm invests in high growth, technology-enabled services companies which have initial users and early revenue, primarily in Digital Health businesses which provide technology solutions to providers, payors, biopharmaceutical firms, and patients. More information is available at www.milestonevp.com.
About Diameter Health
Diameter Health is transforming healthcare through actionable, predictive clinical intelligence. With technology built on interoperability standards, Diameter Health’s analytics unleash clinical meaning from the wealth of data trapped in Electronic Health Records (EHRs). Our SaaS solutions identify patients at risk of adverse outcomes and provide improved visibility into patient acuity. Consequently, customers are able to avoid penalties, capture incentives, and increase revenues resulting from more accurate reimbursement. Diameter Health – 360° Clinical Intelligence. More information is available at www.diameterhealth.com.
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