Healthbox is thrilled to announce the Intermountain Healthcare Innovation Fund’s newest portfolio company: Redox. Redox is the modern API for healthcare, allowing best-in-class software to easily and securely interoperate with EHRs in a health system infrastructure. Since Redox's participation in the 2015 Healthbox Studio in Salt Lake City, UT, Healthbox has been a strong supporter of the critical work the company is doing to speed the adoption of digital healthcare applications by reducing costs and removing barriers. Redox has built an impressive team that is committed to driving value for startups, health systems, and payors alike. Healthbox is excited to support their growth and looks forward to helping them achieve their vision.
The Intermountain Healthcare Innovation Fund has invested $1 million as a follow-on to the company’s recently announced Series B, bringing the final closing to $10 million. The round was led by RRE Ventures with participation from .406 Ventures, HealthX Ventures, Flybridge Capital Partners, and Dreamit Ventures. The Intermountain Healthcare Innovation Fund is managed by Healthbox and affiliated with Intermountain Healthcare, a leading health system with 22 hospitals and 1,500 employed physicians and advanced practitioners.
“We are thrilled to welcome Intermountain Healthcare Innovation Fund as a strategic investor,” said Luke Bonney, CEO of Redox. “Intermountain is a leading innovator in healthcare technology and Redox is proud to help continue that legacy.” Intermountain recognized the need for a modern application interoperability platform when it invited Redox to take part in the Healthbox Studio program. Since then, Redox has connected digital health applications to nearly 100 health systems across the country who utilize three dozen unique EHR vendors.
“We have seen countless healthcare applications struggle with interoperability in recent years,” said Leland Brewster of Healthbox. “Redox is scaling a bold solution with a fantastic team. We are excited to continue working with them as they help companies and health systems overcome this challenge.”
Redox will work with Intermountain as they adopt digital health solutions that integrate with their electronic health record. Additionally, Intermountain has developed many applications in-house, such as their Rehab Outcomes Management System (ROMS®). Redox will become a part of Intermountain’s commercialization strategy as they deploy these solutions with other health systems. Devin Soelberg, Redox’s Chief Customer Officer who also happens to have been born at one of Intermountain’s hospitals, will lead the company’s efforts with the health system.
“Redox is quickly becoming a standard in application interoperability,” adds Vivek Reddy, Chief Health Information Officer of Intermountain Healthcare. “Their platform has evolved into the largest network of enterprise healthcare applications with the ability to scale innovations across large health systems like ours.”