Singaporean health data analytics firm Holmusk gets Veradigm’s backing
Behavioural health data analytics company Holmusk has raised $45 million in a Series B funding round led by Veradigm, formerly Allscripts Healthcare Solutions. The round was also joined by its existing investors, Heritas Capital, Health Catalyst Capital, Novartis, and Northwell Holdings.
WHAT IT’S FOR
The Singapore and New York-based company will use its new funds to continue expanding its NeuroBlu database, which has become one of the leading sources of real-world clinical data for the behavioural health industry.
Meanwhile, Veradigm also intends to sign a data partnership with Holmusk to bring its cohorts of behavioural health and related de-identified patient data to Holmusk’s database.
THE LARGER TREND
Over the past two years, Holmusk established multiple partnerships with hospitals and medical research institutes worldwide to help advance behavioural health research while growing its NeuroBlu platform. It has existing collaborations in the United States with Otsuka, the University of Texas Health Science Center and the Harris Center for Mental Health and IDD, and Metrocare Services; the National Healthcare Group and the Institute of Mental Health in Singapore; and Charité-University Medicine Berlin in Germany.
Meanwhile, Veradigm’s investment in Holmusk comes over a week since its rebranding. It now claims to be “well-positioned” to drive growth and serve its markets where there is a growing shift from disparate systems towards an interoperable system where health data can be “translated into actionable insights and support a higher quality of care.”
ON THE RECORD
“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 behavioural health data. We remain laser-focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes,” Holmusk CEO and founder Nawal Roy shared.
“Mental and behavioural health is a serious global health problem that has only increased during and post the COVID-19 pandemic. Holmusk has proven expertise to create the evidence needed to improve mental health,” Rick Poulton, CEO of Veradigm, commented.