The company, which provides analytics and network solutions for health insurers, plans to use the funds to grow data partnerships and expand its advanced analytics capabilities. Moreover, Axial is looking to develop and launch the axialNetwork and axialConnect platforms with initial customers. These products promise to optimize the care network that surrounds patients in pain. Axial Healthcare is developing partnerships that will accelerate growth towards its next round of funding, which is anticipated in early 2015.
“Over 100 million Americans find themselves in an episode of pain each year; sadly, this is one of the most frustrating patient experiences in healthcare and highly vexing for practitioners and payers as well,” explained Axial Healthcare Chairman & CEO John Donahue. “Axial Healthcare is committed to helping the patient in pain with care that makes sense and moves them forward in their recovery. The additional capital will allow us to improve the health of more patients, support more practitioners and partner with more health insurers.”