Veradigm Announces Strategic Investment in Holmusk

Rhea-AI Summary

Veradigm Inc. (NASDAQ: MDRX) has announced a significant investment in Holmusk, contributing to its $45 million series B financing round. This partnership aims to enhance Holmusk's NeuroBlu Database, a vital resource for real-world clinical behavioral health data. Veradigm will also collaborate with Holmusk to integrate de-identified patient data into this database.

CEO Rick Poulton emphasized the importance of addressing mental health issues exacerbated by the COVID-19 pandemic. This collaboration positions Veradigm as a key player in advancing behavioral health solutions.

Positive

• Veradigm's investment of $45 million in Holmusk to strengthen behavioral health data capabilities.
• Partnership to enhance the NeuroBlu Database, increasing access to real-world clinical data.

Negative

• None.

This collaboration fuels the expansion of a leading source of real-world clinical behavioral health data

CHICAGO--(BUSINESS WIRE)-- Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare Solutions, Inc., announced today an investment in Holmusk, a global behavioral health real-world evidence and data analytics company, as part of Holmusk’s $45 million series B financing round. The round was led by Veradigm, with participation from current investors including Heritas Capital, Health Catalyst Capital, Novartis (dRx Capital), and Northwell Holdings, the venture investment arm of Northwell Health, as well as other previous investors.

Holmusk will leverage this investment to continue its rapid expansion of its flagship offering, the NeuroBlu Database—a leading source of real-world clinical data for the behavioral health industry.

Now that the financing has been completed, Veradigm and Holmusk intend to enter into a data partnership to bring cohorts of behavioral health and related de-identified patient data from Veradigm to the NeuroBlu Database, significantly adding to Holmusk’s real-world clinical data asset.

“Mental and behavioral health is a serious global health problem that has only increased during and post the COVID-19 pandemic,” said Rick Poulton, Veradigm Chief Executive Officer. “Holmusk has proven expertise to create the evidence needed to improve mental health. We are proud to equip the company with the resources needed to advance this important work.”

“This investment will enable our team to continue its work in curating and enhancing data as we plan to build the world’s largest platform for behavioral health data,” said Nawal Roy, Holmusk Founder and CEO. “We remain laser-focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes.”

“We feel fortunate to form a partnership with Veradigm, a company that shares our vision for the transformative power that data can have in health care,” said Michael Weintraub, Chair of the Holmusk Board. “Working collaboratively will help us to deepen our investment in the behavioral health space and make a broader impact.”

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube.

About Holmusk

Holmusk is on a mission to harness real-world data to transform both research and care for behavioral health. Combining the leading behavioral health database with AI-powered analytics and digital solutions designed to address the most pressing challenges in behavioral health, Holmusk is advancing the frontier of evidence generation and fueling innovation. Holmusk is headquartered in New York and Singapore, with three additional offices around the world. For more information, please visit www.holmusk.com.

© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the beliefs, intentions or goals of Veradigm and Holmusk. These forward-looking statements are based on current beliefs and expectations, only speak as of the date that they are made, and are subject to significant and inherent risks and uncertainties. Such statements can be identified by the use of words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. Certain factors that could cause the results described in this release to differ materially from those described in the forward-looking statements include, but are not limited to, the ability of Veradigm and Holmusk to enter into a definitive agreement relating to the data partnership described herein. Veradigm does not undertake to update forward-looking statements to reflect changed assumptions, the impact of circumstances or events that may arise after the date of the forward-looking statements, or other changes in its business, financial condition, or operating results over time.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005849/en/

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Kaitlin Jansen

704-995-2384

kaitlin.jansen@holmusk.com

Source: Veradigm Inc.

FAQ

What is Veradigm's recent investment related to MDRX?

Veradigm has invested in Holmusk, contributing to a $45 million series B financing round aimed at improving behavioral health data.

How will Veradigm's investment benefit the NeuroBlu Database?

The investment will enhance the NeuroBlu Database by integrating additional de-identified patient data, thereby expanding its real-world clinical data resources.

What is the significance of Veradigm's collaboration with Holmusk?

This collaboration is significant as it addresses the growing need for robust behavioral health data solutions, especially post-COVID-19.

When was the investment in Holmusk announced by Veradigm?

The investment in Holmusk was announced on the date of the press release, which is January 9, 2023.