CHICAGO – Rishi Shah and Shradha Agarwal, co-founders of Chicago-based Outcome Health, could well be the youngest Indian-American billionaires—at least on paper. Their firm recently announced the financing round valuing the company at $5 billion pre-money. The company raised about $500 million in venture capital.
Outcome Health partners with healthcare providers to serve actionable health intelligence at the moment of care to improve patient outcomes. The size of this investment and the quality of participants apositions the company to also drive growth across emerging opportunities such as clinical trials, payers, pharmacies and international markets.
Investors in the company include Goldman Sachs Investment Partners, Alphabet’s growth equity investment fund CapitalG, Leerink Transformation Partners, Pritzker Group Venture Capital and Balyasny Asset Management, among many others, as well as strategic health systems and healthcare stakeholders aligned with the company’s mission.
“Outcome Health and its investors share a commitment to activate the best health outcome possible for every person in the world. We believe achieving this at scale will require building a ubiquitous network that brings together all sides of healthcare to support patients and healthcare providers whenever, wherever and however they make critical healthcare decisions,” Outcome Health CEO Shah said in a statement. “We are grateful to have been entrusted to realize this vision by so many important stakeholders. Together, we have the opportunity to create the exam room of the future, physically and digitally, and evolve healthcare decision making from the currency of information to the currency of intelligence.”
One of the company’s exam room technologies is its Digital Anatomy Board, which facilitates effective communication through 3D anatomical diagrams that physicians can annotate during patient consultations to visualize the patient’s medical condition, related symptoms and treatment options.
“Using the Outcome Health Digital Anatomy Boards is an opportunity to dialogue with a patient and explain their medical problem in a visual way,” says Dr. Neil Baum, a urologist in New Orleans. “I use the Digital Anatomy Boards with nearly every patient and I have found that patients appreciate and, more importantly, understand the problem and what needs to be done to resolve the problem.”
The company says it is transforming the patient experience while empowering healthcare providers to achieve the transition towards value-based care.
“Outcome Health is improving the point-of-care decision-making process that leads to better healthcare outcomes,” said Christopher Dawe, co-head of the Venture Capital and Growth Equity team at Goldman Sachs Investment Partners. “This investment is consistent with our broader philosophy of backing mission-driven teams who are bringing positive transformation to large addressable markets.”
“We are thrilled to be partners to Outcome Health and to support their growth as they deploy their health intelligence platform in physician consultation rooms around the world,” said Laela Sturdy, partner at CapitalG, Alphabet’s growth equity fund.
“Outcome Health has transformed the point-of-care into a key source of intelligence for patients, providers and life sciences partners alike,” said Marco DeMeireles, Principal – Private Investments, at Balyasny Asset Management. “We look forward to partnering with Rishi, Shradha, and the Outcome team as they create new tools and business lines that reshape the way healthcare employs data and technology to drive patient outcomes.”
Outcome Health’s innovative model is based on aligning industry incentives to drive synergies amongst all healthcare stakeholders via patient-centric technology solutions that deliver measurable improvement in health outcomes.
“Outcome Health is redefining the way that the life sciences, payers, healthcare IT, physicians and patients interact,” said Todd Cozzens, co-founder and Managing Partner at Leerink Transformation Partners. “The technology enhances the most important event in the delivery of care – the trusted moments where the doctor and patient make decisions about their conditions and treatments – and represents innovation that we are proud to support. Doctors like Outcome Health’s platform because their patients have a better care experience, which leads to better compliance, adherence and most importantly, better outcomes.”
Outcome Health’s mission is to activate the best health outcome possible for every person in the world through technologies that change behavior to positively shape the human condition. The company serves health information and health intelligence during critical moments of care to enable patients and physicians to make the best healthcare decision possible. The company, founded in 2006 by Rishi Shah and Shradha Agarwal, partners with 231,000 healthcare providers nationwide to impact 500 million patient visits annually.
Outcome Health has offices in Chicago and New York City, employing more than 600 people, and partners with large healthcare systems, private physician practices, medical associations, global life sciences companies as well as pharmacies and payers.