Axial Healthcare, which provides a cloud-based clinical decision support platform for managing the cost and quality of patient care, has closed an $8 million Series A round of funding led by .406 Ventures, with participation from previous investors, including BlueCross BlueShield Venture Partners and Sandbox Industries. As part of the deal, Liam Donohue, .406 Venture’s Co-Founder and Managing Partner, has joined Axial’s Board of Directors.
The new funding will enable the Nashville, TN-based company to accelerate the deployment of its suite of pain management capabilities to not only drive value for current client partners but also serve future partners nationwide.
“We were very encouraged by the investor community response to our offering and are delighted to partner with Liam and the .406 Ventures team,” said John J. Donahue, Chairman and CEO of Axial Healthcare, Inc. “They have a proven track record for stellar healthcare services and HCIT investment success. Plus, their reputation for leadership, integrity and innovation is unmatched in the space.”
Founded in 2012, Axial Healthcare relies on big data informed advanced analytics to highlight opportunities, then engages acute and chronic pain patients and manages care plans episodically to improve outcomes, enhance the patient’s experience and eliminate needless expense.
The company’s fully coordinated pain care solution includes four inter-operable components: axialAnalytics (patient and practitioner advanced analytics), axialPractitioner (pain care pathways, performance metrics and point of care MD support), axialNetwork (pain clinic Center of Pain Excellence and COPE network contracting), and axialConsumer (targeted consumer support for high-risk pain patients).