What You Should Know:
- Praia Health, a newly formed digital health company, today announced the closing of a $20 million oversubscribed Series A financing led by Frist Cressey Ventures and backed by SignalFire, Epsilon Health Investors and Providence Ventures.
- The funding will bolster the platform’s ability to revolutionize the delivery of individualized health solutions at scale, enabling digitally driven health system transformation.
Praia Health: Transforming Healthcare Integration with Innovative Digital Solutions
The new company is spearheaded by Justin Dearborn, a seasoned figure in both the healthcare industry and startup realm, who has been actively involved as an executive-in-residence at the Providence Digital Innovation Group (DIG) since September 2023. The Praia Health platform marks the fourth technology venture incubated at DIG under the guidance of Sara Vaezy, Providence’s chief strategy and digital officer. Joining Dearborn on Praia Health’s Board of Directors are Navid Farzad, a partner at Frist Cressey, Yuanling Yuan, a partner at SignalFire, and Vaezy herself.
Community Health Network, a healthcare system based in Indiana, renowned for prioritizing patient-centric care, comprehensive health services, innovative practices, and a commitment to population health management, has recently acquired a license for the Praia Health Consumer Platform, slated for implementation in 2024.
Through its proficient low-code ecosystem enablement capabilities, the Praia Health platform revolutionizes the integration of third-party consumer solutions into a health system’s digital infrastructure. By securely managing data exchange between various solutions, the health system’s electronic medical record system, and other pertinent data sources, Praia Health enhances the flexibility and efficiency of third-party integration, while significantly reducing associated costs.
Seventeen esteemed digital health partners have joined the Praia Health Ecosystem Partner program. Notable members include Atlas Health, Cedar, DexCare, Foodsmart, Fortuna Health, Kyruus Health, Livara Health, Medbridge, Modivcare, Omada Health, Rosarium Health, Season Health, Vale Health, Wellthy, Wildflower Health, Validic, and Xealth. Xealth serves as Praia Health’s clinical integration partner, facilitating the seamless incorporation of digital solutions into the clinician experience and bringing an additional 50+ connected digital health partners into the Praia Health ecosystem. Furthermore, Praia Health has enlisted Panda Health, the Avia Marketplace, Xealth, and West Monroe as channel partners for the platform.
“Praia Health will enable us to remove the traditional barriers to patient care by personalizing individuals’ health journeys and seamlessly connecting them to the right services, products and resources—in an automated way,” says Patrick McGill, M.D., EVP and chief transformation officer of Community Health Network. “Praia Health is a game-changer, enabling us to better serve our patients, our partners, and our caregivers through digital transformation.”
