Press Release
GE Ventures and Stanford Health Care Launch Digital Health Company
March 05, 2015
New company to focus on demonstrating digital health product value with emphasis on outcomes data and new approaches to predictive analytics
MENLO PARK, CA – March 5, 2015 – Today, GE Ventures and Stanford Health Care announced the launch of Evidation Health, an independent company committed to improving health outcomes with evidence-based digital medicine.
Focused on generating real-world clinical and economic evidence for digital health products and platforms, Evidation Health combines health outcomes data with new approaches to predictive analytics to identify and deploy the most effective and efficient patient management strategies and interventions.
Evidation Health Chief Executive Officer Deborah Kilpatrick, said, "Our company has the core capabilities to make precision digital medicine a reality. We envision a digital health-enabled future where clinical interventions can be customized and concentrated in ways that maximize clinical and economic benefit for payers, providers and, most importantly, patients."
According to digital health seed fund Rock Health, more than $4B was invested in over 250 digital health companies in 2014 alone. As this new breed of disruptive tools and technologies enter the market, healthcare purchasers struggle to identify those that will most significantly impact outcomes and improve patient care.
Rowan Chapman, managing director of new business creation at GE Ventures said, “Digital disruption in the health care industry has introduced a number of new but often unproven products and services. With Evidation Health, we will be able to not only improve outcomes, but also ensure that the best products reach patients.”
To accelerate commercial progress, Evidation Health joined forces with The Activity Exchange, a digital health company with strong predictive analytics capabilities, and closed its Series A financing in January of 2015. The round was led by GE Ventures, with participation from Asset Management Ventures and Rock Health. The company is focused on forging new partnerships while continuing its corporate and academic collaborations with Humana, Biogen Idec., Sanofi, Harvard Business School and Wharton, amongst others.
Stanford Health Care President and CEO Amir Dan Rubin, said "Stanford Health Care is committed to delivering integrated solutions to the complex problems patients face, and those solutions will increasingly be advanced through digital health. As an early adopter of electronic health records, virtual visits and precision health, Stanford Health Care is excited to join with GE Ventures to launch Evidation Health to provide real-world assessment and validation of digital health care technologies."
Evidation Health is led by Deborah Kilpatrick, chief executive officer; Christine Lemke, chief product officer; and Amy Belt Raimundo, chief business officer; along with Board Members, Rowan Chapman of GE Ventures and Skip Fleshman of Asset Management Ventures.
About Evidation Health
Evidation Health began as a collaboration between GE Ventures and Stanford Health Care to realize a shared vision for a digital health-enabled future. The company seeks to improve health outcomes through clinically and economically beneficial digital health products and new approaches to predictive analytics that help optimize patient management strategies.
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital and opportunities for commercialization through GE’s global network of business, customers and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing and development resources in over 100 countries. For more information, please visit http://geventures.com/.