August 22, 2108
INDIANAPOLIS, Ind., Aug. 22, 2018 (GLOBE NEWSWIRE) — hc1.com® announced today that existing investor Health Cloud Capital has exercised its option to provide additional growth funding, bringing the company’s total Series B capital raise to $10 million. Elevate Ventures also participated in the round. The additional capital will fund continued expansion of several precision health initiatives underway at hc1, including solutions that combat the opioid crisis and optimize prescribing of other prescription drugs.
Today’s healthcare organizations face the daunting challenge of improving quality while simultaneously reducing costs. At the same time, consumers are demanding more personalized services from their providers and health plans. Despite widespread recognition of these issues, healthcare remains largely impersonal and imprecise. hc1’s precision health solutions personalize healthcare by ensuring the right person gets the right test and the right therapy. Through this high impact formula, improvements in health and well-being delivered by hc1 also result in a dramatic reduction in medical spending.
“Since inception, our team has been focused on developing the critical mass of clients, data, and advanced cloud computing capabilities required to truly personalize healthcare for millions of people,” said Brad Bostic, Chairman and CEO of hc1.com. “We have reached a critical inflection point that empowers us to deliver unprecedented precision health capabilities to address many of healthcare’s biggest challenges, including combating the opioid epidemic and optimizing prescribing, and we are realigning the hc1 team to concentrate our efforts in this domain.”
“Health Cloud Capital is assembling a portfolio of high impact healthcare SaaS businesses that leverage the cloud to deliver targeted precision medicine solutions with clear clinical benefit and demonstrable economic return,” said Travis Morgan, Managing Director of Health Cloud Capital. “The hc1 precision health platform is a perfect example of using data and advanced bioinformatics to solve specific healthcare challenges, and we look forward to realizing synergies between hc1.com and our other portfolio companies in the near future.”
The Series B funding will be used to enhance existing precision health solutions, launch new initiatives, and drive market adoption with partners such as Appriss Health, the nation’s leader in substance use disorder and prescription drug monitoring solutions. Appriss recently teamed with hc1 to combat opioid misuse and abuse through an innovative partnership launching this fiscal quarter. Additional details about Appriss and other strategic partnerships will be forthcoming.
hc1.com®, the leader in cloud-based precision health solutions, is passionate about unlocking the answers that solve healthcare’s biggest challenges. The company’s mission to personalize the healthcare experience is focused on delivering the right test and the right therapy to the right person at the right time. Its cloud-based solutions enable healthcare organizations—including medical laboratories, health systems, payors, and health plans—to deliver on the promise of optimized prescribing, high-value care, and preventative medicine. Follow hc1 on Twitter @hc1_HRM, LinkedIn, and Facebook.
For information contact Clarus Communications:
Linda Muskin, 847-432-7300
Mara Conklin, 847-816-9411