Health information and technology provider Healthline Networks has spun out patient risk management software subsidiary Talix with $14m of funding from investors including data provider RELX.
RELX, which invested through its Reed Elsevier Ventures unit, was joined by industrial product manufacturer General Electric, Investor Growth Capital and VantagePoint Capital Partners.
Formed as a subsidiary of Healthline in January 2015, Talix released its risk adjustment software application, Coding InSight, in June and has since signed up several customers from healthcare provider and payer organisations.
The investment will be used to support the growth of Coding InSight as well as additional products that will also make use of Talix’s HealthData Engine.
Dean Stephens, Talix’s newly appointed chief executive, said: “Having secured this round of funding, Talix is well positioned to further innovate and disrupt the healthcare risk adjustment space.
“We are excited for this new chapter and look forward to continuing to deliver value to both our growing stable of high-profile customers and our shareholders.”