A healthcare tech company that collects and analyzes patient data said May 12 it plans to double in size this year after securing a $20 million investment.
Chicago-based PatientIQ landed the funding from Health Enterprise Partners and August Capital. The business intends to use the money to grow its patient outcomes platform and expand into the “provider and real-world evidence markets,” according to a company news release.
"As healthcare continues down the path toward value-based care delivery, the ability to measure and quantitatively define 'quality' is imperative," PatientIQ CEO Matthew Gitelis said in the release.
The company serves more than 200 healthcare organizations and collects information from more than 1.4 million patients, using the data to help providers gauge their performance, predict outcomes and better collaborate with one another.
Editor's note: This article was updated May 12 at 2:55 p.m.