New investment led by LSP enables the global healthtech company to expand commercial operations in the U.S. healthcare market
BOSTON, Mass. – December 4, 2018 – Lumeon, the leader in Care Pathway Management (CPM), today announced the closure of a $28M investment led by LSP, one of Europe’s largest healthcare investment firms. Investing from the LSP Health Economics Fund 2, the financing will provide Lumeon with capital to grow its U.S. team and Boston headquarters, scale commercial operations and accelerate customer deployments in the region.
Along with LSP as the lead investor, the funding includes venture capital from MTIP and participation from current investors Gilde, Amadeus Capital Partners and IPF Partners. Cedars-Sinai Medical Center continues to maintain a strategic investment in Lumeon, following successful participation in their fall 2017 accelerator program.
The U.S. healthcare system has been fractured by inefficient care processes and soaring operational costs. With the cost of care delivery threatening the survival of healthcare providers across the country, a new approach is needed.
Lumeon partners with providers to support next-generation care delivery. The company’s CPM platform deploys personalized care pathways that combine intelligent orchestration and automation. Building on existing Electronic Health Records (EHR) with advanced patient engagement techniques, CPM delivers better care by eliminating low-value activities and assuring best practice. In doing so, it reduces operational costs while improving the patient experience and increasing revenue.
“After an extensive look at 100 companies in digital health, we invested in Lumeon with complete confidence,” said Rudy Dekeyser, Managing Partner at LSP. “Lumeon is leading a transformation in healthcare delivery, with a commercially validated and results-driven product platform that improves any patient’s journey in any healthcare system. We believe that Lumeon’s Care Pathway Management solution, and the way it significantly impacts cost, efficiency – and, importantly – quality of care, will become an inherent component of modern and sustainable value-based healthcare.”
“As a market, the U.S. has made significant investment in care documentation systems, but it has never experienced the cost pressures that we have grown up with in Europe,” said Robbie Hughes, founder and CEO, Lumeon. “There is an urgent need for care delivery optimization which can only be solved by thinking holistically about the patient pathway.” Hughes continued, “Hospital CIOs don’t want to buy more point solutions, they need enterprise-wide capability that allows leadership to deploy best practice quickly and repeatedly at significant scale. Lumeon has created the market for Care Pathway Management, and this investment will accelerate our penetration into the biggest healthcare market in the world.”
Lumeon enables healthcare organizations to orchestrate and automate systems and processes, bringing situational awareness to care operations to deliver high performance, team-centered healthcare. The industry-leading Lumeon Care Pathway Management (CPM) platform and suite of solutions empower health organizations to take control of their end-to-end care delivery model and maximize the use of resources. By iteratively designing and deploying efficient pathways, organizations reduce cost and minimize unwarranted variation, while flexibly adapting to emerging needs.
With headquarters in the USA and Europe, Lumeon serves some of the largest health enterprises across the globe, managing over six million patients on its platform.
LSP (Life Sciences Partners) is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, the LSP team has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €1.7 billion ($2.0 billion) of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. The LSP Health Economics Fund 2 invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: www.lspvc.com