Moxe Health secures $25M from Trinity Capital for its healthcare data exchange tools. Their convergence product enables payers to input insights into EHRs for providers, while digital release of information automates chart requests. Trinity aims to support Moxe’s growth, recognizing its potential to revolutionize healthcare data exchange. Interoperability initiatives like FHIR and companies like Avaneer and Microsoft highlight the broader market context.
Moxe Health, a data exchange company in the healthcare sector, has secured $25 million in growth capital from Trinity Capital. The company specializes in providing tools for sharing patient health record information to payers and providers. One of its key offerings is the convergence product, enabling payers to input insights into Electronic Health Records (EHR) for providers. Additionally, Moxe Health provides a digital release of information product for providers, automating requests for medical charts, with payers having access to a chart retrieval tool.
The investment will be utilized to further scale the company’s operations. Trinity’s managing director of life sciences, Lauren Cosentino, expressed excitement about Moxe’s technology potentially revolutionizing healthcare data exchange, emphasizing Trinity’s commitment to supporting the company’s growth.
In a previous funding round in 2022, Moxe Health raised $30 million in a Series B funding led by Piper Sandler Merchant Banking and Vensana Capital, with participation from existing investors. The company had outlined plans to expand its team and enhance its data exchange technology with this investment.
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The broader market context highlights the significance of interoperability in healthcare, with initiatives like the FHIR at Scale Taskforce (FAST) making strides in identifying Fast Healthcare Interoperability Resources (FHIR). Avaneer, another startup in the field, utilizes blockchain and FHIR technologies to facilitate secure data exchange among healthcare organizations. Microsoft Cloud for Healthcare also expanded its API services in 2021, particularly with Azure Healthcare APIs, allowing users to input health data and integrate it with FHIR for improved searchability and sharing capabilities.