Outcome Health value climbs to $5.5 billion after first funding round
Outcome Health, a startup that CEO Rishi Shah and President Shradha Agarwal launched a decade ago, appears to be going strong.
After growing Chicago-based Outcome Health over 10 years, the co-founders went for their first round of funding recently, raking in $500 million from more than 50 investors. Among them are Alphabet, parent company of Google; Pritzker Group; Goldman Sachs; and Leerink Transformation Partners.
The $500 million investment, which Shah plans to use to further grow the company, puts Outcome Health’s valuation at $5.5 billion.
Until January of this year, Outcome Health was called Context Media.
The technology Outcome Health has in play is designed to educate patients about their diseases and about possible courses of treatment.
It seems like a simple idea – put all the pertinent information in digital form for the patient to access easily. The company employs videos and displays other information on tablet devices and screens in waiting rooms and exam rooms.
One of the company’s exam room technologies is its Digital Anatomy Board, which facilitates effective communication through 3D anatomical diagrams that physicians can annotate during patient consultations to visualize the patient’s medical condition, related symptoms and treatment options.
Shah envisions having this type of information available at physician practices around the world. The company is off to a good start, having doubled sales over the past two years.
The goal is to give both patients and doctors information they need at their fingertips.
So far, Outcome Health is in 40,000 healthcare practices and it works with 20 percent of healthcare providers in the U.S.
Shah expects this latest funding will expand Outcome Health’s reach.