Israeli digital health company Vim has completed a $60 million financing round from leading US healthcare funds including health insurance giant Anthem, pharma store chain Walgreens and Optum Ventures. Other investors include GreatPoint Ventures, Sequoia Capital, Frist Cressey Premera, and Blue Cross.
The company, which was founded by CEO Oron Afek, CTO Asaf David and Yael Peled in 2015, has 100 employees, 70 of them in Israel.
Vim has developed a platform for transferring medical data between medical sector organizations and works mainly in the US market, which has hundreds of thousands of medical databanks set up independently in hospitals, private clinics, insurance companies, and other organizations, some of them responsible for insuring their employees. The platform helps coordinate matters between the different organizations responsible for a patient's health.
Afek said, "In contrast to Israel, the health system in the US is built so that there is a separation between the insurance companies and service providers. In addition, data isn't shared in an efficient way between these organizations, with each side of the equation having conflicts of interest. Money rather than quality of service moves the system. All this has made the American health system the most expensive in any OECD country."
He added, "Our platform has already been adopted by leading insurance companies in the US and this last financing round will help us to continue to penetrate the US market and realize our vision of improving communications between the different parts and supporting a change in the model of payment for health services."
Published by Globes, Israel business news - en.globes.co.il - on May 5, 2021
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