Singapore and United States-based healthtech firm Holmusk has raised $45 million series B financing round led by Nasdaq-listed healthcare firm Veradigm Inc (formerly known as Allscripts Healthcare Solutions, Inc).
The round also saw participation from current investors including Heritas Capital, Health Catalyst Capital, Novartis (dRx Capital), and Northwell Holdings, the venture investment arm of Northwell Health, as well as other previous investors, Holmusk said in a statement on Wednesday.
According to the statement, Holmusk will leverage this investment to continue its rapid expansion of its flagship offering, the NeuroBlu Database—a leading source of real-world clinical data for the behavioral health industry.
Now that the financing has been completed, Veradigm and Holmusk intend to enter into a data partnership to bring cohorts of behavioral health and related de-identified patient data from Veradigm to the NeuroBlu Database, significantly adding to Holmusk’s real-world clinical data asset.
“This investment will enable our team to continue its work in curating and enhancing data as we plan to build the world’s largest platform for behavioral health data,” said Nawal Roy, Holmusk Founder and Chief Executive Officer.
“We remain laser-focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes,” he added.
Meanwhile, Michael Weintraub, Chair of the Holmusk Board said :”We feel fortunate to form a partnership with Veradigm, a company that shares our vision for the transformative power that data can have in health care.”
“Working collaboratively will help us to deepen our investment in the behavioral health space and make a broader impact,” he added.
Holmusk is a behavioral health real-world evidence and data analytics company on a mission to harness real-world data to transform both research and care for behavioral health.
Combining the leading behavioral health database with artificial intelligence (AI)-powered analytics and digital solutions designed to address the most pressing challenges in behavioral health, Holmusk is advancing the frontier of evidence generation and fueling innovation.
The firm is headquartered in New York and Singapore, with three additional offices around the world
“Mental and behavioral health is a serious global health problem that has only increased during and post the COVID-19 pandemic,” said Rick Poulton, Veradigm Chief Executive Officer.
“Holmusk has proven expertise to create the evidence needed to improve mental health. We are proud to equip the company with the resources needed to advance this important work,” he added.
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale.
The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully.