An Ohio-based health tech startup is getting a big boost from a Louisville-based entity to the tune of seven figures.
After winning the CareTech pitch competition, Quovis — a decentralized health information exchange based out of Cleveland — has received a $1 million investment from 0924 Investments, LLC, the family office of Randy Bufford, per a press release.
Bufford is the founder and former president/CEO of Trilogy Health Services, LLC.
Brandon Fairless, Quovis CEO/co-founder, said that he initially met Bufford at the Optimize industry conference last September in Louisville at Churchill Downs Racetrack, where they were won of two winners named at the pitch competition under the name of Gazelle.
“This investment in Quovis has catapulted us to where we are today,” Quovis CEO Brandon Fairless said in the release. “[We] immediately gelled over our common desire to end data fragmentation in long-term care. We’re excited to benefit from Randy’s well-established track record of success and know he shares our passion for using technology to improve the lives of those served by our healthcare system.”
Quovis/Gazelle — founded in 2019 as a pharmaceutical software tech platform to address issues centered around the opioid epidemic — operates by using smart contract technology to decentralize the process of data exchange and coordinate patient care between medical teams, while reducing “the friction caused by disparate healthcare IT systems, according to the release. It also eliminates the need for a third-party manager or new software interface, which can also reduce the time and costs for all involved.
In addition by using the capabilities of blockchain, it allows patients to own their own data and know who is accessing it and when.
The next edition of the Optimize conference and CareTech competition will take place Sept. 27-28 at the Kentucky International Convention Center in Downtown Louisville. The events are sponsored by Louisville Healthcare CEO Council (CEOc) its subsidiary Aging2.0 — which in 2022 moved its headquarters from San Francisco to Louisville after being acquired by CEOc.
Aging2.0 is composed of a volunteer-run network of more than 130 chapters in 31 countries. Its focus is to identify and promote innovations and resources that can improve the obstacles that came with aging. Since its founding, more than 40,000 innovators have been involved with Aging2.0 initiatives.
