Watershed Health, a company dedicated to transforming patient care coordination in the healthcare sector, has successfully closed a funding round, raising $13.6m.
The investment was led by First Trust Capital Partners, with participation from prominent investors such as FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners, and Wanxiang Healthcare Investments.
Watershed Health operates at the forefront of healthcare technology, offering a real-time care coordination Software-as-a-Service (SaaS) platform.
This platform facilitates seamless communication and collaboration among healthcare providers, aiming to reduce costs, enhance quality of care, and improve patient outcomes.
The company plans to utilise the newly acquired funds to meet the increasing demand for its platform across the United States.
This includes expanding its engineering, development, customer success, and sales teams to better serve payers and providers seeking innovative solutions for care coordination challenges.
Recent estimates highlight the significant financial impact of uncoordinated care on the US healthcare system, amounting to roughly $340bn annually.
Watershed Health’s platform addresses this issue by providing a comprehensive point of connection among a patient’s clinical and non-clinical providers.
By streamlining communication and enabling real-time information exchange, the platform aims to mitigate the adverse effects of fragmented care on patient outcomes.
Emma Cartmell, managing partner of Create Health Ventures, stated, “Watershed is poised to be the leader in coordinated care – the costliest problem in the industry. Watershed is on an upward trajectory because both the payers and the providers have experienced the benefits of being able to use a platform that provides real-time care coordination, and I expect to see marked improvements in healthcare outcomes as more providers join, use and experience the tangible improvements it delivers.”
Jon Phillips, managing director of First Trust Capital Partners, commented, “While there may be doubts within the healthcare industry about the possibility of community-wide collaboration throughout a patient’s care journey, Watershed is not only demonstrating that it’s achievable but also essential. Watershed offers a comprehensive view of a patient’s health, empowering providers to make informed decisions at the point of care. We believe the company is poised to revolutionise the healthcare landscape, and our investment reflects our enthusiasm to be a part of this transformation.”
Todd Johnson, partner at FCA Venture Partners, added, “Dr. Grant’s unique perspective as a physician has been instrumental in the successful adoption of Watershed. He and his team understand the challenges of providing patient care in a system where communication and collaboration are often lacking. Watershed is intentionally designed to cut through the noise and solve the massive problem of fragmented care.”
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