Outcome Health announced its first-ever round of funding closed at a $5B valuation pre-money from a group of investors, including Goldman Sachs Investment Partners, Alphabet’s growth equity fund CapitalG, Leerink Transformation Partners, Pritzker Group Venture Capital, Balyasny Asset Management, and strategic healthcare stakeholders. According to the news release, the nearly $600 million raised during this round “will fund the company’s continued acceleration as Outcome Health grows from 20% of U.S. physician practices currently to 70% by 2020, and pursues new investment opportunities and international growth.” The leading health decision platform will increase its market share in a variety of point of care settings – including hospitals, health systems, and health practices.
Outcome Health provides tablets and large-format, wall-mounted touch screens which doctors and patients can utilize during their appointment. Among its unique features, the technology provides the largest English-language health library, showcases 3-D models that doctors can move and use for demonstrations, and allows drug ads that share health or Rx information or recruit patients for clinical trials.
Rishi Shah, the Founder and CEO, stated, “Outcome Health and its investors have gathered around a shared commitment to connect ten million exam rooms and billions of moments of care around the world to ensure that patients and doctors can make the best health decisions every time. Together, we have the opportunity to bring healthcare from an age of information to an age of intelligence.”
According to Todd Cozzens, co-founder and Managing Partner at Leerink Transformation Partners, one of the investors, “Outcome Health is redefining the way that the life sciences, payers, healthcare IT, physicians and patients interact. The technology enhances the most important event in the delivery of care – the trusted moments where the doctor and patient make decisions about their conditions and treatments – and represents innovation that we are proud to support.”
Shah explained to Forbes in an exclusive interview, however, that Outcome Health is not simply in the point of care market, but rather has a broader reach in the healthcare industry, especially as it continues to fuel its significant growth. In addition to working with healthcare professionals and patients, the Forbes article noted how Outcome Health also works “on businesses for healthcare providers and with Medicare on new payment models. With the new funding, the company can pursue more aggressive acquisitions in the months to come, as well as invest in startups that might want to create content or build applications to house on Outcome’s content network.” As Shah told Alex Konrad and Matthew Herper, “We’ve created a multi-sided network that gives payers and life science companies a seat at the table. They can help doctors and patients make the best decision every time.”