A Toronto-based healthcare data management and storage company, Smile CDR, has closed a $20 million Series A financing round. The company, led by Duncan Weatherston, offers a platform and suite of services for healthcare data integration and interoperability. It stores health records and is compatible with all FHIR resources.
Series A funding round
The $20 million Series A funding round for Smile CDR is an essential step for the company as it continues to accelerate its growth. The investment will help the company continue the development of its platform and services to meet the needs of health systems and payers. The company has already partnered with many large payers and health systems across the United States. Its innovative interoperability solutions have helped grow the FHIR-based health information exchange (HIE) industry.
The new funding will allow the company to continue its mission of delivering secure and standardized health information to healthcare providers. The company aims to transform how healthcare information is created and shared by making it available to patients anytime, anywhere. In addition, it plans to use the funding to expand beyond its core FHIR-based offering.
In a recent funding announcement, Smile CDR, a Toronto-based healthcare data management and storage company, announced a $20 million Series A financing round. The company, led by Duncan Weatherston, is focused on helping health systems close medical information gaps. Its platform offers secure storage and transfer of health records. It also gives solutions to FHIR-based interoperability, a new standard expected to become mandatory by 2020.
Smile CDR has rapidly grown in the past year, with 400% year-over-year employee growth. The company partners with 23 payers, including three of the top 10 U.S. insurers, and has customers in 15 countries worldwide.
Toronto-based Smile CDR has announced that it has raised $20 million in Series A growth capital from 30 North Group and UPMC Enterprises. The company is focused on helping health systems close the gaps in their medical information by providing a comprehensive data and integration platform. Its services help health systems securely store and transfer patient health information. The company pitches its solutions as a way to meet the CMS’ 2020 interoperability ruling. It recently earned FHIR API certification from the Drummond Group, an organization focused on helping healthcare systems improve their interoperability solutions.
In addition to offering health information integration software, Smile CDR has been working on advancing interoperability standards. It has also developed an API that automates clinical data conversion into FHIR resources. This API enables secure and standardized health data exchange and allows organizations to implement FHIR-based applications.
Partnership with Diameter Health
Diameter Health is a leader in data interoperability and a trusted source of clinical data. Through the partnership, Diameter Health and Smile CDR will combine the best-of-breed FHIR solutions available on the market. The Diameter Health Fusion technology will work with the Smile CDR Clinical Data Repository to deliver a comprehensive solution that can be deployed into an enterprise data architecture.
The company’s partnerships are diverse and include some of the world’s most extensive health plans and insurers. It also has customers in more than fifteen countries. Its mission is to build a standardized “Internet of Health” for healthcare. By collaborating with healthcare organizations, the company aims to improve the quality and safety of patient care by streamlining clinical data and ensuring it is easily accessible.