US-based health intelligence provider Outcome Health has raised $600m from a consortium that included CapitalG, the growth stage corporate venturing division of diversified conglomerate Alphabet.
Goldman Sachs Investment Partners, Leerink Transformation Partners, Pritzker Group Venture Capital, Balyasny Asset Management and unnamed health systems and healthcare stakeholders also contributed to the round, which valued Outcome Health at $5bn pre-money.
The size of the transaction was first reported by the Wall Street Journal on Tuesday, though it was not confirmed in Outcome’s press release yesterday.
Founded in 2006, Outcome Health has developed a platform to deliver health information and intelligence during critical moments of care to help both medical professionals and patients to make better decisions.
The company’s products include the Digital Anatomy Board, which allows doctors to annotate 3D anatomical diagrams to visualise a patient’s condition, related symptoms and treatment options.
The company has partnered 231,000 healthcare providers in the US so far, including approximately 20% of all US physician practices. The money will support an expansion of Outcome’s network to 70% of practices across the country.
The funding will also help Outcome enter additional opportunities, including clinical trials, pharmacies and international markets.
Laela Sturdy, partner at CapitalG, said: “We are thrilled to be partners to Outcome Health and to support their growth as they deploy their health intelligence platform in physician consultation rooms around the world.”