US-based healthcare data analysis technology developer Health Fidelity has secured an undisclosed amount of funding from healthcare system UPMC.
Health Fidelity increased a March 2014 funding round of $14.1m to $19.3m in January 2015, according to a regulatory filing. The company has not disclosed whether UPMC’s investment represents the other $5.2m, or if it is a third tranche of that round.
Health Fidelity’s natural language processing technology, which it developed with the help of UPMC, enables users to analyse unstructured clinical data.
Unstructured electronic healthcare records comprise up to 80% of available clinical information on patients, and usable data can often be difficult to extract from them.
UPMC’s investment will enable Health Fidelity to focus on increasing its market share and extending its research and development efforts while also hiring more staff.
Health Fidelity is considering additional investments and partnerships with other players in the healthcare industry, but has not yet disclosed any specific details.