PHILADELPHIA and MADISON, Wis., Oct. 4,
2016 /PRNewswire/ -- Moxe Health ("Moxe"), a company
focused on accelerating the exchange of clinical data between
payers and providers, today announced a $5.5 million Series A financing round led by
Safeguard Scientifics (NYSE:SFE). Proceeds will be used for product
expansion, hiring and sales efforts.
Moxe was founded in 2012 with a vision to enable bi-directional
data exchange through its key product, Substrate, directly linking
payers and their provider networks. By integrating insurer data
using industry standard processes, Moxe allows providers to
incorporate claims, risk and other payer data into their own
analytic efforts, allowing clinicians to better understand patient
risks and deliver value-based care. As the market evolves to
include further stakeholders, Moxe will aid efforts to
operationalize data originating from all corners of the healthcare
ecosystem.
"The rules of healthcare are quickly being re-written, as
technology presents an opportunity to facilitate more meaningful
interactions between payers and providers," said Dan Wilson, Moxe's founder and CEO. "We enable
workflows that are beneficial to both sides of the equation and
focus on delivering patient health insights to providers while
reducing administrative excess. We balance this by offering payers
a cost-effective model for receiving clinical data, at a fraction
of the standard market rate."
"Our aim is to facilitate access to a patient's complete picture
of health, ultimately bringing more transparency to the process,"
added Wilson. "We're scaling our operations with this in mind,
adding key hires in engineering and sales through the end of 2016
and early 2017. Safeguard shares this vision and complements our
efforts during a period of substantial growth."
To combat a widening disconnect between insurers and healthcare
providers, Moxe democratizes access to information. With an
established client base, Moxe has moved into an industry-leading
position, meeting healthcare's demand for the seamless exchange of
clinical data among key stakeholders. Moxe requires minimal hours
of implementation effort from providers, greatly reducing the
administrative burden of integration.
"The payer-provider dynamic in healthcare is drastically
shifting, and there's value being harvested from companies, and
tools, serving as the conduit," said Safeguard's Managing Director,
Gary Kurtzman, M.D., who will join
Moxe's board of directors. "Moxe has developed a vendor-agnostic
solution primed to capitalize on a demand for real-time access to
comprehensive clinical data. By connecting various databases
together, Moxe facilitates a more holistic view of patient
health."
About Moxe Health
Founded in 2012, Moxe Health enables
bi-directional flow of information between payers and providers.
The company's flagship product, Substrate, is an electronic medical
record integration solution connecting payers and provider
networks, facilitating real-time data exchange among industry
stakeholders. Through this exchange of data, provider networks are
rewarded with key patient health insights and a reduced
administrative footprint. Moxe is based in Madison, Wisconsin. For more information,
please visit moxehealth.com.
About Safeguard Scientifics
Safeguard Scientifics
(NYSE:SFE) provides capital and relevant expertise to fuel the
growth of technology-driven businesses in healthcare, financial
services and digital media. Safeguard targets companies that are
capitalizing on the next wave of enabling technologies with a
particular focus on the Internet of Everything, enhanced security
and predictive analytics. Safeguard typically deploys between
$5 million and $25 million over the
course of its partnership with a company, initially investing in a
Series A or B Round and opportunistically in a Seed Round.
Safeguard has a distinguished track record of fostering innovation
and building market leaders that spans more than six decades. For
more information, please visit www.safeguard.com or
follow us on Twitter @safeguard.
Forward-looking Statements
Except for the
historical information and discussions contained herein, statements
contained in this release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Our forward-looking statements are subject to
risks and uncertainties. The risks and uncertainties that could
cause actual results to differ materially include, among others,
our ability to make good decisions about the deployment of capital,
the fact that our partner companies may vary from period to period,
our substantial capital requirements and absence of liquidity from
our partner company holdings, fluctuations in the market prices of
our publicly traded partner company holdings, competition, our
inability to obtain maximum value for our partner company holdings,
our ability to attract and retain qualified employees, market
valuations in sectors in which our partner companies operate, our
inability to control our partner companies, our need to manage our
assets to avoid registration under the Investment Company Act of
1940, and risks associated with our partner companies, including
the fact that most of our partner companies have a limited history
and a history of operating losses, face intense competition and may
never be profitable, the effect of economic conditions in the
business sectors in which Safeguard's partner companies operate,
and other uncertainties described in our filings with the
Securities and Exchange Commission. Many of these factors are
beyond the Company's ability to predict or control. As a result of
these and other factors, the Company's past financial performance
should not be relied on as an indication of future performance. The
Company does not assume any obligation to update any
forward-looking statements or other information contained in this
press release.
MEDIA CONTACTS
For Safeguard Scientifics
Heather Hunter
Vice President, Corporate Communications
610.975.4923
hhunter(at)safeguard(dot)com
For Moxe Health
Terri Leigh Rhody
Vice President, Marketing and Customer Experience
608-699-9176
terri@moxehealth.com
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SOURCE Safeguard Scientifics