Lumeon Raises $30M in Funding to Support U.S. Growth
New investment will expand care delivery platform solutions and enable deeper healthcare provider partnerships
BOSTON – Aug 11, 2020 – Lumeon, the leader in care pathway orchestration, today announced that it has closed $30M in Series D funding led by new investors Optum Ventures and Endeavour Vision, with participation from current investors LSP, MTIP, IPF Partners, Gilde and Amadeus Capital Partners. The investment will enable the company to extend the reach of its Care Pathway Management (CPM) platform, which helps healthcare providers automate their patient care coordination to improve care quality, deliver better outcomes and reduce costs.
Lumeon’s CPM platform uses real-time data to dynamically guide patients and care teams along their care journeys. By automating, orchestrating and virtualizing care delivery across care settings, Lumeon’s solutions allow health systems to operate with predictability and efficiency, delivering optimal care to each patient while substantially lowering costs for healthcare providers.
“While the markets for data analytics, clinical decision support and patient engagement are well established, what is missing today is the ability to effectively connect them to solve the problem of personalizing care delivery in a scalable way,” said Lumeon Founder and CEO Robbie Hughes. “The ‘last mile’ that turns the insight into action is the hardest part for health systems, and is the core of the Lumeon proposition.”
Hughes continued, “This investment will allow us to continue on our rapid growth path, as we help healthcare systems develop and scale new models of delivery.”
“As the technology-driven transformation of healthcare is accelerated by COVID-19, Lumeon’s ability to optimize the care of every patient based on individual risk, cost, engagement and social determinants is crucial for their customers to operate effectively,” said Optum Ventures Principal Dr. Ashish Patel. “We believe Lumeon is uniquely positioned to help health systems unlock new opportunities in sustainable, profitable care delivery.”
Lumeon’s CPM platform integrates with all electronic health record (EHR) systems in addition to incorporating required clinical and administrative data from point solutions and devices, addressing the fragmented nature of healthcare technology and the challenge of interoperability. By extending beyond the confines of a healthcare provider’s EHR, Lumeon’s configurable solutions maximize current investments as organizations evolve their care delivery models.
“Lumeon’s flexible CPM platform offers an unparalleled solution to the care pathway challenges many health systems face,” said Alexander Schmitz, Partner at Endeavour Vision. “By coordinating processes across the continuum – from basic administrative tasks through to highly complex clinical optimization protocols – Lumeon is helping to define a new future for patient care.”
Lumeon helps health systems take control of their care delivery processes by orchestrating and automating care journeys to operate with predictability and efficiency. Its industry-leading solutions act as the ‘auto-pilot’ for healthcare delivery, navigating the patient care journey while coordinating care teams, communication, tasks, and decisions to increase revenue, optimize resource utilization, and deliver superior outcomes at less cost. Lumeon’s solutions are enabled by their cloud-based care pathway management (CPM) platform. Capitalizing on the patient’s electronic health record (EHR), health systems can start simply with immediate benefits and evolve to orchestrate their entire care process. More than 70 progressive health systems across 12 countries have deployed Lumeon’s multi-award-winning platform. www.lumeon.com
About Optum Ventures
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers’ access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.
About Endeavour Vision
Endeavour Vision is a leading private equity firm investing in growth-stage medtech and digital health companies. We invest in disruptive technologies that address major unmet needs and that provide superior clinical benefits for patients or bring significant efficiencies to healthcare systems. Endeavour Vision’s team combines strategic and operational experience in building medtech and digital health businesses, a successful track record of investing, and the necessary capital to support the transition of R&D organisations into successful clinical and commercial operations. The company headquarters are in Geneva, Switzerland, with a presence in North America. For more information, visit www.endeavourvision.com
For further information, contact: