AdaptX®, a self-serve clinical management solution company, announced the completion of $10 million in funding led by Cercano Management and including Memorial Hermann Health System and Morningside Ventures, as well as returning investors Founders' Co-op, Fortson VC, Star Equity, and WRF Capital.
SEATTLE, Nov. 1, 2023 /PRNewswire-PRWeb/ -- AdaptX®, a self-serve clinical management solution company, today announced the completion of $10 million in funding led by Cercano Management and including Memorial Hermann Health System and Morningside Ventures, as well as returning investors Founders' Co-op, Fortson VC, Star Equity, and WRF Capital. AdaptX will use these new funds to support its rapid growth and to invest in its AI-driven Adaptive Clinical Management™ technology.
AdaptX's self-serve solutions empower clinical leaders to assess, improve, and manage care across patients, using data from their electronic medical records (EMRs). With AdaptX, clinicians rapidly adapt treatments and workflows, improving care for patients while delivering immediate return-on-investment (ROI) for their institutions.
"At Memorial Hermann, we are committed to continuously improving care for patients across our community," says Feby Abraham, PhD, executive vice president and chief strategy officer for Memorial Hermann Health System. "AdaptX transforms clinical management by empowering clinical leaders to continuously assess, improve, and manage care with their own real-world data. We are excited not only to invest in AdaptX but also to use their solutions to enhance our care capacity and quality."
"AdaptX has achieved tremendous growth across the health system market," says YB Choi, partner at Cercano Management. "We are excited to deepen our support of AdaptX as it deploys its self-serve clinical management solutions across acute and ambulatory care environments in the U.S. and internationally."
"Healthcare leaders are using AdaptX to deliver solutions for their greatest challenges: increasing capacity and access, improving quality, enhancing equity, reducing burnout, and reducing greenhouse emissions," says Dan Low, MD, chief medical officer of AdaptX. "AdaptX has proven that our solutions catalyze dramatic improvements for any health system, from large-scale academic environments to much smaller rural communities."
"We are thrilled with the fantastic support of our new and returning investors," says Warren Ratliff, chief executive officer of AdaptX. "It is a testament to the incredible work of AdaptX's team that our fundraising round was oversubscribed despite the challenging economic environment."
With AdaptX's self-serve Adaptive Clinical Management™ solution, health systems transform clinical management, delivering dramatically better patient care and financial results. AdaptX's AI-driven Mission Control Center™ empowers clinical leaders to quickly and easily leverage their real-world data to assess performance, compare approaches, and adapt – across patients, teams, protocols, workflows, and facilities.
AdaptX is headquartered in Seattle and was founded in 2016. Learn more at adaptx.com.
About Memorial Hermann
Charting a better future. A future that's built upon the HEALTH of our community. This is the driving force for Memorial Hermann, redefining health care for the individuals and many diverse populations we serve. Our 6,600 affiliated physicians and more than 33,000 employees practice the highest standards of safe, evidence-based, quality care to provide a personalized and outcome-oriented experience across our more than 250 care delivery sites. As one of the largest not-for-profit health systems in Southeast Texas, Memorial Hermann has an award-winning and nationally acclaimed Accountable Care Organization, 17* hospitals and numerous specialty programs and services conveniently located throughout the Greater Houston area. Now and for generations to come, the health of our community will be at the center of what we do – charting a better future for all.
*Memorial Hermann Health System owns and operates 14 hospitals and has joint ventures with three other hospital facilities, including Memorial Hermann Surgical Hospital First Colony, Memorial Hermann Surgical Hospital Kingwood and Memorial Hermann Rehabilitation Hospital-Katy.
Courtney Witter, AdaptX, 1 206-620-0233, [email protected], adaptx.com