The Johns Hopkins University-founded wound evaluation software developer had counted Tencent and Penn Medicine among its backers.
Tissue Analytics, a US-based wound imaging technology spinout of Johns Hopkins University, was acquired by patient record management software company Net Health for an undisclosed sum today.
Spun out of Johns Hopkins’ Whiting School of Engineering in 2014, Tissue Analytics has built a machine learning-driven software platform that helps clinicians take 2D and 3D measurements to monitor the healing of wounds, ulcers and burns.
Users upload pictures of the wound into the platform and receive automated measurements indicative of the likely prognosis. The technology can also be used to monitor patients remotely via Tissue Analytics’ smartphone app.
Net Health believes Tissue Analytics will extend its presence in predictive analytics-driven wound care, and has taken on-board all of the spinout’s employees.
Silversmith Capital Partners, one of the firm’s existing backers, supplied equity funding to support the acquisition.
Penn Medicine, the healthcare system of University of Pennsylvania, backed a $5m series A round for Tissue Analytics which closed in 2018.
Digital health-focused private equity firm DigiTx Partners led the round, which also included medical device producer Molnlycke Health Care, nonprofit healthcare provider Intermountain Healthcare and venture capital fund Dreamit Ventures.
Tissue Analytics had received $1.9m in debt and other securities in 2016 according to a regulatory filing, after Tencent had supplied $750,000 in seed funding in 2015.
