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Curisium Raises $3.5M to Scale Innovative Healthcare Contracting on BlockchainMANHATTAN BEACH, Calif., Dec. 14, 2017 /PRNewswire/ -- Curisium, a healthcare technology and services company that enables innovative contracting at scale via its blockchain-based platform, announced today it has raised $3.5M in seed financing from Flare Capital Partners, New Enterprise Associates (NEA), Shuttle Fund, Sanofi Ventures, and Green Bay Ventures. In conjunction with the financing, Bill Geary of Flare Capital and Mohamad Makhzoumi of NEA have joined the Curisium Board of Directors, and Ruchita Sinha of Sanofi Ventures has been appointed a Board Observer. The Curisium platform uses cutting-edge blockchain and secure computation technologies to allow payers, providers, and life science companies to efficiently and securely engage in innovative, patient-centric value-based contracts. Nearly a third of the payments in the $3T US healthcare market are already tied to some form of innovative payment model; Curisium aims to transform healthcare by disrupting existing frameworks and enabling scalable value-based care contracting at the individual patient level. "Payers, providers, and life science companies are increasingly entering into various forms of innovative contracts," said Peter Kim, co-founder and CEO of Curisium. "However, effective implementation today is hampered by costly logistics, lack of trust, and difficulty verifying patient-level outcomes." "Curisium's platform, by enabling outcome verification at the patient level, while automating the payment side, has the potential to rapidly accelerate the breadth and depth of innovative contracting arrangements," said Bill Geary, co-founder and Partner at Flare Capital. "We're thrilled to be an investor partner with the Curisium founding team having successfully backed them before, and are impressed with their deep industry and technology insights and capabilities." "There is no mechanism today to effectively define or share patient health states," added Milind Kamkolkar, Chief Data Officer at Sanofi. "With the Curisium platform, we now have a trusted version of health records that will get better over time, and the industry can finally start to discover, maintain and improve patient health." Greg Papadopoulos, Venture Partner at NEA and former CTO of Sun Microsystems, notd "Healthcare data are siloed, and there is a reluctance to share due to fundamental distrust among its custodians. Curisium's platform tackles this logjam with unique cryptographic guarantees around its data access." Both Kamkolkar and Papadopoulos have joined Curisium's inaugural Industry Advisory Board. "Blockchain technology has tremendous potential and there is a huge opportunity to implement this application within the healthcare industry," stated Mohamad Makhzoumi, General Partner at NEA and Head of Healthcare Services. "We are thrilled to partner with the Curisium team as they pioneer blockchain for healthcare in a pragmatic, market-driven way, that addresses pain points across trust, security, and payment logistics." To learn more about Curisium, please visit www.curisium.com. About Curisium About Flare Capital Partners About NEA About Shuttle Fund About Sanofi Ventures About Green Bay Ventures
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