The investment was led by First Trust Capital Partners, with contributions from FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners, and Wanxiang Healthcare Investments.
Watershed Health aims to address the issue of uncoordinated care by connecting various entities within the healthcare system, including health plans, hospitals, post-acute care facilities, primary care providers, and community-based organisations.
The company’s platform facilitates real-time information exchange through a shared patient record, encompassing clinical documents, current health status, social determinants of health (such as food, housing, and transportation), and contact information. This integration allows providers to communicate effectively, execute care plans, and make informed decisions.
Currently, Watershed Health serves four of the six major US health plans and collaborates with thousands of clinical and non-clinical providers. Together, they deliver care to more than five million patients, striving to improve care coordination and enhance patient outcomes.
Dr. Chip Grant, an interventional cardiologist and founder and CEO of Watershed Health, said: “My work as a physician has shown me the consequences of uncoordinated care – the missed connections and the inefficiencies. It’s frustrating for providers and it’s harmful to patients. I started Watershed because I knew a better healthcare system was possible, and I wanted to solve the problems I was seeing in my community. “
He added: “Little did I know that Watershed would ultimately be advancing transformational change for the entire healthcare sector. Our work to drive coordinated care across healthcare communities is unbelievably compelling to both payers and providers, and we are expanding to help solve the problem of fragmented care nationwide.”
