|[October 08, 2013]
Luminate Health Raises $1M from KEC Ventures to Help Patients Understand Their Lab Results
NEW YORK --(Business Wire)--
Luminate Health, Inc. (Luminate
Health), an innovative software-as-a-service (SaaS (News - Alert)) provider that
gives labs a digital platform for their patients to access and
understand their lab test results, today announced a $1M seed round led
The announcement follows the company's graduation from prominent New
York City-based health tech accelerator, Blueprint Health, earlier this
year. The company is partnering with commercial and hospital labs,
including one of the top 10 labs in the US.
Launched in 2012, Luminate Health is transforming the way that patients
understand and manage their own health, and has uniquely connected labs,
physicians, and patients with its service. With legislation that will
require labs to provide patients with digital access to their lab
results going into effect later this year, Luminate Health enables labs
to go a step further. With the company's service, labs can not only help
patients make sense of their lab results, but also help physicians
improve their relationships with patients and save time on
communication. As a result, labs also improve their relationships with
both physicians and patients.
"Labs are also informatin companies, but simply providing lab result
data to patients isn't enough. Today, patients have very little
understanding of what their lab results mean," said Sidd Sinha, CEO and
Co-founder of Luminate Health. "Consequently, in a $75B US medical
testing market, much of the benefit of this testing can be lost.
Luminate Health is changing that. By enabling patients to understand
their lab results, we empower them to become active managers of their
own health. Since up to 70% of decisions around a patient's prevention,
treatment, and diagnosis involve lab test results1, this is
an important place to start as part of a patient's overall medical care."
Jeff Citron, Managing Partner of KEC Ventures and Chairman of Vonage (News - Alert),
has joined Luminate Health's board of directors.
"The inability of patients to participate in managing their own health
is a massive gap in the healthcare system. The proliferation of IT-based
solutions for healthcare will dramatically change that. That has
enormous benefits for patients themselves, but it's also a huge
opportunity for the organizations that provide care to patients," said
Citron. "Luminate Health is poised to address this opportunity by
re-envisioning how patients interact with their medical information and
with its model for connecting labs, physicians, and patients. We're
excited to be partnering with Luminate Health to help them grow and
scale their service across this incredibly large space."
"Medical test results encompass such a large part of a patient's medical
record. We're taking a patient-centric design approach to unlock the
value of these results for the entire ecosystem - patients, physicians,
and labs," said Sinha. "Looking forward, we're also employing our own
analytics to pull out powerful insights for better, more targeted care
to individual patients."
About Luminate Health
Luminate Health offers a HIPAA-compliant SaaS solution that gives labs
an easy and cost-effective way for patients to access, manage, and
understand their lab results. The company will expand into an even
broader set of medical information as adoption of its services continues
to grow. For more information, visit www.luminatehealth.com,
or email email@example.com.
About KEC Ventures
KEC Ventures is a venture capital firm that invests in early stage
technology companies across a wide spectrum of industries. KEC partners
with talented entrepreneurs and works alongside them to offer strategic
advice and support in all facets of their business.
1 American Clinical Laboratory Association. 2007. "The Value
of Clinical Laboratory Services." (http://www.acla.com/acla-archives)
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