NEW YORK, March 20, 2017 /PRNewswire/ -- Aetion, a leading healthcare technology company that provides real-world evidence (RWE) analytics solutions for payer/provider, biopharma and medical device customers, today announced that it has secured $11.2 million in Series A funding in a round led by Flare Capital Partners and joined by Lakestar.
The Aetion Evidence Platform™ generates the real-world evidence that empowers the healthcare industry to engage in a value-based business model. With its patented rapid-cycle analytics™ technology, the platform combines best-of-breed science with leading-edge computing technology to unlock evidence from the everyday clinical and financial interactions of the healthcare system. Aetion customers can analyze virtually any real-world data to determine medical need, comparative effectiveness and the overall value profile of medical treatments and interventions. The platform enables payers and providers to collaborate in real-time with biopharmaceutical and medical device companies to develop therapeutic insights and make smart choices in patient care.
"With the healthcare industry moving toward data-driven, value-based care, essential evidence is a necessity for assessing the expected and realized value of medical products and treatments," stated Jeremy A. Rassen, Sc.D., co-founder, president and chief scientific officer, Aetion. "Our platform combines modern analytic methods with rapid-cycle computing technology to generate the transparent, real-time insights necessary for evaluating the outcomes and value of medical treatments and interventions."
Customers rely on the platform to provide them with the ability to gain insights into the clinical and financial status of a population, measure and compare the effectiveness and value of treatments and provider practices and realize value-based contracting. With these insights, customers can mitigate risk by monitoring product safety and effectiveness in large populations.
"Speed, efficiency, accuracy and transparency, combined with easy-to-use workflows, are critical needs when it comes to making informed decisions that impact quality patient care," said Sebastian Schneeweiss, M.D., Sc.D., co-founder and science lead, Aetion, and professor of medicine and epidemiology, Harvard Medical School. "The Aetion Evidence Platform delivers the best analytic science to drive decision-making, and it does so at a fraction of the cost of traditional approaches."
"Aetion has assembled a knowledgeable team of leading health experts and data scientists to create a platform that delivers valuable insights for its customers," said Bill Geary, general partner, Flare Capital Partners. "Accurate data and real-time analyses are the underpinning of today's health sector, and it's important for the industry to have a solution like the Aetion Evidence Platform to deliver the best intelligence to make informed decisions."
With this additional funding, the company will extend the capabilities of its platform, as well as expand and commercialize its solutions for the benefit of the healthcare ecosystem.
Based in New York City, Aetion (pronounced eh-tee-ahn) is a leading healthcare technology company that delivers the real-world analytics and evidence needed for value-based healthcare. With its patented rapid-cycle analytics™ technology, the platform utilizes the everyday clinical and financial interactions of the healthcare system to unlock essential evidence about the effectiveness and value of medical treatments. Founded by Harvard Medical School faculty members and top big data technologists, Aetion enables payers and providers to collaborate with biopharmaceutical and medical device companies in real-time to develop therapeutic insights and make smart choices in patient care. Learn more at www.aetion.com.
About Flare Capital Partners
Flare Capital is a team of proven healthcare technology venture capital investors known for their unparalleled strategic industry resources, insight and total commitment to the success of its entrepreneurs. Flare Capital raised one of the healthcare industry's largest dedicated venture capital funds focused exclusively on early stage and emerging growth investments in healthcare technology innovation and is privileged to closely partner with founders and management. Selected investments include Aetion, Bright Health, Circulation, ClearDATA, Evolent Health, HealthReveal, HealthVerity, Iora Health and Welltok. Learn more at www.flarecapital.com.
Lakestar is a global venture capital firm, investing in internet and technology companies worldwide, with offices in London, Berlin, Zurich and New York. Selected investments include Spotify, Opendoor, Facebook, Airbnb, SOFI, King.com, Klarna, Skype, Oscar Healthcare, Harry's Shaving, Maker Studios, Algomi, and Teralytics, as well as many earlier stage companies in the U.S. and Europe. Lakestar maintains an entrepreneur-centric approach, enabling stellar management teams to accomplish their full potential. www.lakestar.com.