Risalto Health Raises $1.5M to Improve Patient Outcomes in Musculoskeletal Care
NEW YORK, June 5, 2018 /PRNewswire/ -- Risalto Health, a digital health company aiming to transform the delivery of musculoskeletal (MSK) care, has raised $1.5M in seed stage capital from New York-based Health Catalyst Capital Management (HCCM). Risalto will use the financing to expand its machine learning capabilities and commercialize and expand its care concierge program, which will enable superior outcomes and cost savings for patients experiencing back, neck, knee, and hip pain. HCCM joins Oxeon Ventures as investors in Risalto.
Musculoskeletal ailments affect millions of Americans and cause billions in unnecessary spend from employers and health plans. Risalto's platform connects patients, employers, and providers to the highest quality care available through its proprietary algorithms, and it delivers personalized, alternative solutions for patients entering the MSK care journey. Created in partnership with Oxeon's Venture Studio, Risalto already has its first customer, a Fortune 50 company responsible for the coverage of almost 250,000 members.
"Musculoskeletal care creates a huge burden for patients, payers, and employers alike," said Daniel Pizzarello, MD, Founder and CEO of Risalto. "Partnering with Health Catalyst Capital will help us move faster in our mission of getting every patient the evidence-based care they deserve. Risalto will do more than just save money -- we will help patients heal, resume active lives, and minimize exposure to dangerous pain medication."
Health Catalyst Capital Management, a venture capital firm focused on venture and growth stage healthcare opportunities, invests in multiple-stages of high-growth healthcare IT and tech-enabled services companies. Investors in HCCM's $100M+ fund include several major healthcare companies, such as large health plans and providers.
"Health Catalyst Capital Management invests in companies that can improve the quality of healthcare while lowering costs," said Charles Boorady, HCCM's Founding Managing Director. "Musculoskeletal care is a major pain-point in the healthcare system. We are excited to partner with Risalto, and collaborate with Oxeon Ventures, in addressing this large area of systemic concern."
About Risalto Health
Risalto Health is a big data and technology enabled healthcare enterprise transforming the delivery of musculoskeletal care. The company works collaboratively with primary care doctors, specialists, physical therapists, and psychologists to change patterns of care in high-spend areas to improve outcomes while significantly lowering costs for payers and patients. For more information, visit www.RisaltoHealth.com.
About Health Catalyst Capital Management
Health Catalyst Capital Management is a New York-based venture capital firm that seeks to invest in entrepreneurial teams building high growth healthcare information technology businesses that make a positive social impact by improving patient access, outcomes and value. For more information, visit www.HealthCatalystCapital.com.
About Oxeon Ventures
Oxeon Ventures builds and co-invests alongside leading venture and growth equity firms, and additionally focuses on building companies de novo, with entrepreneurs or with strategic partners and anchor customers. Our affiliate, Oxeon Partners, is a highly specialized healthcare recruiting and venture firm that connects its company partners with the fundamental drivers of business growth: great people, transformational business development partnerships, strategic investments, next-generation business ideas, and human capital advisory. For more information, visit www.oxeonventures.com.
SOURCE Risalto Health