UPMC has contributed to a funding round for Xealth, which emerged out of Providence St. Joseph Health.
Xealth, a US-based health prescription and analytics platform spinout from Providence St. Joseph Health, secured $8.5m today in a round backed by Providence and University of Pittsburgh Medical Center (UPMC).
The round was led by VC firm DFJ Venture Capital, with participation from medical care providers Hennepin Healthcare System and Froedtert Health.
Xealth emerged out of Providence’s Digital Innovation Group incubator in 2016. Its platform collates electronic medical records which track the patient’s experience with prescribed health products such as educational content, disease management apps or medical devices.
The platform is accessed through a patient’s own health system’s service portal and can remind them to follow their prescriptions. Xealth’s technology is currently being used by both Providence and UPMC.
The money will help build Xealth’s capabilities to support more third-party health applications.
The spinout is led by chief executive Mike McSherry, previously an entrepreneur in residence with Providence Health & Services, which later merged with St. Joseph Health to form Providence St. Joseph.