SEATTLE, Oct. 29, 2019 /PRNewswire/ -- In a move that will further strengthen its leadership position in helping health systems and life sciences companies deliver personalized care guidance through the emerging category of care process automation, Twistle today announced it has secured $16 million in Series A funding. Leading healthcare enterprises use Twistle's scalable technology to manage outreach to patient populations by automating communications, information-gathering and patient education, helping them improve clinical and patient-reported outcomes while simultaneously lowering costs.
The funding round was led by Health Enterprise Partners (HEP) and MemorialCare Innovation Fund (MCIF). HEP is a growth equity firm whose investors include some of the largest health systems and health plans in the United States. MCIF, the venture arm of the MemorialCare Health System, partners with leadership at the health system to vet and invest in disruptive healthcare technology.
Twistle selected HEP and MCIF because of their mutual commitment to deliver large-scale intelligent transformational solutions to the healthcare industry. "We are particularly impressed with their partnerships with leading provider and payer enterprises, and their records of helping innovative healthcare technology companies succeed," said Kulmeet Singh, Twistle's CEO. "We think they are the ideal partners to help us lead healthcare into a new era of communication effectiveness."
The funding will be leveraged to advance Twistle's mission of helping care teams optimize every patient's care by automating proactive conversations that inform timely actions. Specifically, the company will accelerate expansion in the provider and life sciences markets, and fuel innovation with a focus on human-assisted automation that enables those organizations to continuously improve patient care.
"If we want to deliver great care and bend the cost curve in this country, we cannot continue following the status quo," Singh said. "We have to use automation to increase the effectiveness of our care teams and find better ways to motivate patients to take ownership of their own health."
One of the most significant differences in Twistle over other information delivery systems is its ability to be molded to exactly what health systems or life sciences companies need to deliver their desired results. Enterprises are free to innovate on Twistle's process automation platform and configure novel pathways to engage patients and consumers through any channel: mobile messaging apps, patient portals, interactive voice response, and simple, secure text messaging.
Ezra Mehlman, Managing Partner at HEP, said that HEP's partnership with many of the leading healthcare organizations across the country has provided a unique perspective about the value of Twistle's technology. "In our conversations with them, we hear the priority their executives are assigning to hyper-individualized care plans and asynchronous patient communications," he said. "They see these as the keys to true patient engagement. We have also observed how many of these leaders select Twistle as their solution after rigorous head-to-head contests. We are thrilled to be partnering with Kulmeet Singh and his team in executing on what we believe is an outsized market opportunity."
Brant Heise, Managing Director of MemorialCare Innovation Fund, said Twistle's technology makes a difference for patients, too. "Large health systems are confronted with a dizzying array of apps to educate and guide patients, each targeting a different disease or condition, with a unique app experience," he said. "Twistle enables health systems to eliminate many point solutions and consolidate on a single platform that integrates with the existing IT ecosystem. Allowing patients to engage through messaging standardizes their experience and makes adoption simple."
About Twistle Founded in 2011, Twistle is a healthcare technology company that helps organizations deliver personalized care to patients in their homes by automating everything from routine communication to information gathering and education activities, saving time for care teams while improving outcomes. Twistle's platform automatically checks in with patients and based on their responses, guides them to a better outcome by delivering follow-up information, questions, and empathetic messages. Patients are connected to the care team through multi-channel engagement, including IVR, text messaging and Twistle's own intuitive mobile app. Twistle's technology helps its customers increase revenue, standardize care processes and reduce costs. Twistle takes deep integration with EHRs, wearables, devices and the healthcare IT ecosystem, and creates a simple user experience for patients and their care teams to reach its vision: Every patient connected, supported and reassured.
About Health Enterprise Partners Health Enterprise Partners invests primarily in privately held, lower middle market companies in healthcare services and healthcare information technology. Central to HEP's strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP's funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare.
About MemorialCare Innovation Fund MemorialCare Innovation Fund (MCIF) brings strategic investment funding to accelerate the development of companies in the healthcare information technology, healthcare services, and medical device sectors that can advance high-quality, effective healthcare. MCIF is focused on companies offering innovative products, services and technologies which help healthcare systems significantly improve performance and outcomes and achieve their community missions.
Media Contact: Tara Stultz Amendola Communications for Twistle 440.225.9595 [email protected]