Kaiser, Mass General invest in Providence digital health spinoff

Renton, Wash.-based Providence's digital health spinoff, DexCare, closed a $50 million series B funding round Jan. 12.

DexCare is an operating system that manages health system capacity and demand across all lines of care, according to a news release. The platform has secured customers that include Houston Methodist, the Froedtert and Medical College of Wisconsin health network in Milwaukee and Indianapolis-based Community Health Network.

The funding round was led by Transformation Capital, with participation from Providence, Oakland, Calif.-based Kaiser Permanente and Boston-based Mass General Brigham.

DexCare will use the funds to support innovation efforts, improve customer experiences and recruit talent. The money will also allow the company to expand into additional service lines and care modalities.

Providence created DexCare in 2016 as the platform for its ambulatory care business but has since spun off the company. DexCare closed its first investment round in March 2021, securing $20 million.

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