The product of a new innovative model, Tendo Systems $50 million has been raised In the B round of financing.
This round of financing was led by existing investor Lux Capital, with the additional participation of General Catalyst, bringing the valuation of the eight-month-old healthcare software company to US$550 million.
Own system The company’s co-founder Dan Goldsmith said in a telephone interview that the main goal is to digitize and customize the entire patient care process. To develop their digital participation platform, the company is adopting a basic customer model.
Goldsmith explained that normally, technology companies will develop a small product and then bring it to market and acquire customers, but Tendo is deliberately selecting and working with the health system to create a product that can make the patient’s journey more seamless. .
Located in Philadelphia Jefferson HealthHe is an early investor in the company and Tendo’s first basic customer.
For Jefferson, working with Tendo is an opportunity to enter the bottom of a promising new company and influence the technology being created.
“[Providers] Must…become a partner in the consumerization of healthcare,” Thomas Jefferson University President and Jefferson Health CEO Dr. Stephen Krasco said in a telephone interview. “These things must happen in the form of partners, not like As before, when EMR develops, we respond, or telemedicine develops, we respond… If we really put Silicon Valley’s rapid-action mentality and mission-driven traditional healthcare ecosystem. “
Together, Tendo Systems and Jefferson are creating a platform that aims to become “Open table“Healthcare, Goldsmith said. It will allow patients to search for care, schedule appointments, provide medical history through a virtual waiting room, and schedule follow-up visits.
Goldsmith said the company plans to use the recently raised funds for research and development.
“We want to access and simplify care…just the push of a button,” he said. “One of the problems today is that with the click of a button, I can see my entire financial situation, but not my entire personal situation.”
Towards this goal, Tendo Systems and Jefferson Health both view their strategic partnership as the dawn of a more collaborative new era in health IT innovation.
On the one hand, developing a product that can use the wide range of sanitation facilities in the Jefferson system—from academic medical centers and primary care facilities to rehabilitation—will allow Tendo and the health system to jointly develop a product that can function in various health areas. Set, Klasko said.
This cooperation will eventually provide Jefferson with an additional source of income.
“We have seen hospital revenues and insurance rates have fallen, and we have seen companies earn billions of dollars in valuations based on these valuations. [new technologies] we [piloted],” Krasco said.
He believes that suppliers are eager to enter the revenue stream, rather than just looking outside.
“For Jefferson, the entire new mathematics of innovation and strategic partnerships has become a very important part of our financial outlook,” he added.
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