The New York eHealth Collaborative (NYeC) and the Partnership Fund for New York City (Partnership Fund), are proud to announce the achievements of two of its New York Digital Health Accelerator (NYDHA) graduates, Avado and Cureatr, both leaders in the health IT communications software industry. Avado, a developer of cloud-based patient relationship management (PRM) tools and technologies has been acquired by WebMD, the leading source of health information. Cureatr, the nation’s fastest growing mobile care coordination solution for healthcare providers has secured $5.7 million in Series A financing, which also includes participation from Milestone Venture Partners, a NYDHA venture investor, and the Partnership Fund.
Both companies graduated from the NYDHA program in May. The inaugural class of eight companies has raised approximately $11.4 million in aggregate post-program, driving growth and significantly expanding their customer base.
The 9-month program provided each of the eight companies with high-caliber mentorships: Senior-level executives from 23 of New York State’s leading healthcare organizations provided product development feedback. The companies also benefited from mentorship by world class investors and executives from the health insurance, pharma and health IT entrepreneurial sectors. In addition to providing product feedback, the participating healthcare providers facilitated 17 pilots at their organizations and created over 100 jobs. The NYDHA is currently planning to launch and announce the next class of the Accelerator in early 2014.
Avado is the second NYDHA pilot program to be acquired since graduating, after Remedy Systems which was acquired in May.
“New York City is quickly becoming a health IT hub, bringing with it good paying jobs to New York City,” said Maria Gotsch, President and CEO of the Partnership Fund for New York City. “Startups like Avado and Cureatr have achieved remarkable success in a short period of time in part due to the innovative New York Digital Health Accelerator. We encourage the next round of companies to participate so we can further promote the growth of this burgeoning sector.”
With an investment of $4.2 million, the NYDHA is the largest-funded healthcare IT accelerator program in the country, providing funding to eight growth-stage health tech companies developing cutting edge technology solutions in care coordination, patient engagement, analytics, and message alerts for healthcare providers.
Cureatr along with the NYDHA’s other successes will be present at the upcoming New York eHealth Collaborative’s (NYeC) Digital Health Conference taking place in New York City this November 14-15. More than 1,200 senior-level healthcare decision makers from across New York’s robust health IT community will gather to showcase recent innovations and the most cutting edge technological developments in healthcare. To view a full conference schedule and to register visit www.digitalhealthconference.com.
