Current Health, a NYC-based provider of an FDA-cleared, artificial intelligence (AI)-powered patient management platform, raised $11.5m (£9m) in Series A funding.
The round was led by MMC Ventures and Legal & General, with participation from Par Equity and Scottish Investment Bank, the investment arm of Scottish Enterprise.
The company intends to use the capital to scale its platform.
Founded in Scotland in 2015 by CEO Christopher McCann and CTO Stewart Whiting, Current Health uses wearable and wireless vital signs monitoring, clinical indicators from an ecosystem of more than 50 integrations and symptoms collected via its patient engagement tools, to continuously track patient health trends. Leveraging proprietary machine learning algorithms, the company’s platform analyzes this data to proactively detect illness and alert providers to high-risk patients so they can deliver healthcare earlier.
Today, 13 of the largest healthcare systems in the United States and United Kingdom – including Mount Sinai and Dartford & Gravesham NHS Trust – use Current Health to manage patient care. With the Current Health platform, customers have been able to shorten hospital stays, reduce hospital readmission rates, improve patient satisfaction and deliver better patient outcomes.
The company has secured three FDA 501(k) clearances for its platform and proven the value of its solution in some of the most demanding and respected healthcare systems in the world.