The New York Digital Health Accelerator’s Dec. 4 “Demo Day” featured seven early- and growth-stage health tech companies that are developing technology products for care coordination, patient engagement, predictive analytics and workflow management for healthcare providers.
The Accelerator is a five-month program created by the New York eHealth Collaborative (NYec) and the Partnership Fund for New York City to foster New York’s growing health tech sector. The seven companies introduced 16 pilot projects developed during the Accelerator program to an audience of potential investors and healthcare senior executives. The pilots allowed the companies to validate on an initial basis both the clinical relevance and business viability.
The Accelerator, now in its second year, offers participating companies the opportunity to engage directly with a broad network of providers in New York State including hospitals, long-term care providers, community health centers and primary care providers who could potentially be a ready market for their products. As part of the NY Digital Health Accelerator, each chosen company also received up to $200,000 in investment capital.
The seven companies participating in the program include:
- AllazoHealth
- Clinigence
- Covertix
- IQuartic
- Noom
- Quality Reviews
- Sense Health
“We are giving health IT companies what they need but cannot get anywhere else: access to major customers and product feedback from senior-level executives at New York’s top healthcare institutions,” Dave Whitlinger, executive director of the New York e-Health Collaborative, said in a statement. “By providing these companies with direct mentorship to improve their technologies and business strategies, the Accelerator is quickly expanding New York’s health IT landscape. We look forward to seeing what these companies accomplish after having completed our program.”
The investment capital for the Accelerator was provided by a syndicate of investors, with 22 healthcare providers agreeing to participate in the program. The inaugural Accelerator class of eight companies graduated in May 2013 and raised a total of $25 million post-program, driving growth and significantly expanding their customer base. Two of the companies were acquired within six months of graduating. By facilitating 17 pilots in their organizations, participating healthcare providers helped to create more than 120 jobs.
