MADISON, WI--(Marketwired - April 06, 2017) - Redox, the leading integration platform for digital healthcare applications and health systems, announced today that the Intermountain Healthcare Innovation Fund has invested $1 million as a follow-on to the company's recently announced Series B, bringing the final closing to $10 million. The round was led by RRE Ventures with participation from .406 Ventures, HealthX Ventures, Flybridge Capital Partners, and Dreamit Ventures.
The Intermountain Healthcare Innovation Fund is managed by Healthbox and affiliated with Intermountain Healthcare, a leading health system with 22 hospitals and 1,500 employed physicians and advanced practitioners.
"We are thrilled to welcome the Intermountain Healthcare Innovation Fund as a strategic investor," said Luke Bonney, CEO of Redox. "Intermountain is a leading innovator in healthcare technology and Redox is proud to help continue that legacy."
Intermountain recognized the need for a modern application interoperability platform when it invited Redox to take part in its 2015 Healthbox Studio program. Since then, Redox has connected digital health applications to nearly 100 health systems across the country who utilize three dozen unique EHR vendors.
"We have seen countless healthcare applications struggle with interoperability in recent years," said Leland Brewster of Healthbox. "Redox is scaling a bold solution with a fantastic team. We are excited to continue working with them as they help companies and health systems overcome this challenge."
Redox will work with Intermountain as they adopt digital health solutions that integrate with their electronic health record. Additionally, Intermountain has developed many applications in-house, such as their Rehab Outcomes Management System (ROMS®). Redox will become a part of Intermountain's commercialization strategy as they deploy these solutions with other health systems. Devin Soelberg, Redox's Chief Customer Officer who also happens to have been born at one of Intermountain's hospitals, will lead the company's efforts with the health system.
"Redox is quickly becoming a standard in application interoperability," adds Vivek Reddy, Chief Health Information Officer of Intermountain Healthcare. "Their platform has evolved into the largest network of enterprise healthcare applications with the ability to scale innovations across large health systems like ours."
Redox is the modern API for healthcare, allowing best-in-class software to easily and securely interoperate with EHRs in a health system infrastructure. Through Redox's standardized data models and interoperable network, software applications connect to Redox once and then have the ability to integrate with any health system and EHR. With hundreds of applications integrated, Redox is the leading healthcare interoperability platform with the largest ecosystem of enterprise applications. Redox is headquartered in Madison, Wisconsin: the land of beer, cheese, and health tech. Learn more and join the network at www.redoxengine.com.
About the Intermountain Healthcare Innovation Fund
Launched in 2015, the Intermountain Innovation Fund is a strategic investment vehicle of Intermountain Healthcare, a Utah-based, not-for-profit system of 22 hospitals, 180 clinics, a Medical Group, a health plan division called SelectHealth, and other health services. The Fund's purpose is to source, evaluate, and invest in innovative companies that align with Intermountain's mission of helping people live the healthiest lives possible. The Fund is managed by Healthbox, a partner for innovation and entrepreneurship in healthcare having worked with more than 35 healthcare organizations and over 160 early-stage companies since its founding in 2011. For more information, visit www.intermountainhealthcare.org and www.healthbox.com.
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