Deal: $10 million
Investors: The funding was led by Heritage Group, the corporate venture arm of HCA, with participation from Health Insight Capital.
What they do: Chicago-based Procured Health is a provider of software solutions that reduces the cost of healthcare, including technology that helps hospitals discover and evaluate medical devices. According to Procured CEO Hani Elias, JD, MPH, the funding will be used "to advance our solutions and continue innovating at a rapid pace."
"In healthcare today, hospitals cannot afford any wasteful spending," explained Elias. "And clinical excellence, while still of utmost importance, must be coupled with initiatives to reduce costs and improve efficiency in order to drive value."
Other details: Heritage Group is a venture-capital firm that's backed by some of the nation's leading healthcare companies, including Trinity Health, Cerner, Cardinal Health, Sutter Health, Memorial Hermann, and more. This investment comes from Heritage's second Healthcare Innovation Fund, which closed $220M in capital commitments earlier this year.
Previously, Procured raised a $4M Series A in 2014 from FCA Venture Partners. The four-year-old company works with leading health systems, including Stanford Health Care, Vanderbilt University Medical Center, and Legacy Health.
Update: Procured Health has changed their company name to Lumere.
(Image via Wiki Commons)
