Truveta, a healthcare data analytics startup formed by 14 U.S. health systems, welcomed three new members to the company and closed a $95 million financing round, it announced July 13.
Dallas-based Baylor Scott & White Health, Columbia, Md.-based MedStar Health and Arlington-based Texas Health Resources are the newest members of Truveta, which launched in February. Headed by Terry Myerson, a former engineer at Microsoft, Truveta will serve as a universal database of patient population information collected from its participating member healthcare organizations.
The company plans to use the $95 million Series A funding, raised by the 17 member health systems and Mr. Myerson, to hire more technology and health data experts to continue building out the platform. Truveta is currently home to more than 100 employees, Mr. Myerson told Becker's Hospital Review.
Truveta's goal is to make deidentified clinical data covering varying diagnoses, geographies and demographics available to physicians and researchers for stronger analyses of medical conditions, treatment therapies and prognoses. According to the company, it maintains a strong emphasis on data privacy, ethics and security and is advised by a board of governors and healthcare providers.
"One of the special things is that our health system members set it up, so they provide the ongoing governance," Mr. Myerson said. "I report on privacy, security, ethics and data quality to them, and they hold us to the highest standards across all those areas."
Truveta aims to help healthcare professionals more quickly respond to health issues, such as the COVID-19 pandemic, by generating a larger, shared database of knowledge. For example, had a platform like Truveta existed last year, it could've been used to share research on medications such as hydroxychloroquine or whether patients should be intubated, Mr. Myerson said.
Truveta's 17 members provide more than 15 percent of all patient care across the U.S. By welcoming Baylor Scott & White Health, MedStar Health and Texas Health Resources, the platform will have greater racial and ethnic diversity, especially Black and Hispanic patients, from health systems operating in Texas, Maryland, Virginia and Washington, D.C., according to a news release.
Truveta's founding health systems care for tens of millions of patients and comprise thousands of care facilities across the U.S. Here are the 17 organizations leading the project:
- AdventHealth (Altamonte Springs, Fla.)
- Advocate Aurora Health (Milwaukee)
- Baptist Health of Northeast Florida (Jacksonville)
- Baylor Scott & White Health (Dallas)
- Bon Secours Mercy Health (Cincinnati)
- CommonSpirit Health (Chicago)
- Hawaii Pacific Health (Honolulu)
- Henry Ford Health System (Detroit)
- MedStar Health (Columbia, Md.)
- Memorial Hermann Health System (Houston)
- Northwell Health (New Hyde Park, N.Y.)
- Novant Health (Charlotte, N.C.)
- Providence (Renton, Wash.)
- Sentara Healthcare (Norfolk, Va.)
- Tenet Health (Dallas)
- Texas Health Resources (Arlington)
- Trinity Health (Livonia, Mich.)