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| Healthcare IT and Biotechnology News Release |
| News Home :: Healthcare IT and Biotechnology News Releases :: More News Releases on this day |
| Date of Publication: Friday, November 30, 2007 |
Altarum Leads $1 Million Investment Round in Cielo MedSolutions |
| Michigan-based research institute and software firm team to advance Clinical Quality Management. |
Ann Arbor, MI -- Altarum, the nonprofit health system research institute and Cielo MedSolutions, a healthcare software startup, today jointly announced the formation of a multifaceted strategic alliance.
As the cornerstone of the new arrangement, Altarum is serving as the lead investor in Cielo’s current round of financing, providing $500,000 of a $1 million total round finalized this week. Other investors in this round are the Michigan Pre-Seed Capital Fund – which announced a $250,000 investment this week – and Automation Alley, the Southeast Michigan economic development agency, whose $250,000 investment in Cielo was announced earlier this year. As part of the alliance, Cielo ha s relocated its offices to Altarum’s Ann Arbor, Michigan headquarters building. Altarum and Cielo have also signed a multi-year, exclusive, teaming agreement to collaborate on government-funded projects that align with the research, technical and consulting strengths of the two organizations.
“Altarum solves complex systems problems in health care by integrating research, technology, analysis and consulting skills,” said Linc Smith, Altarum president and CEO. “Our interest in Cielo MedSolutions is based on their innovative technical approach to using Web-based software to improve clinical quality. What we have seen in Cielo leads us to beli eve that the company has the potential to drive meaningful and lasting improvements in the management of chronic disease. Enabling promising health technology companies such as this one is one small but important way in which we advance our mission to improve our nation’s health.”
“Altarum is an ideal partner for us,” commented Dave Morin, Cielo’s President and CEO. “They understand U.S. healthcare at a systems level, and the combination of their national reach, reputation for objective research, and anal ysis and broad expertise with the public sector will be invaluable in helping us drive the successful adoption of clinical quality management systems.”
Cielo Clinic, the company’s flagship web-based application, helps primary care physicians to deliver efficient, high-quality care for all patients through point-of-care prompts and reminders of services due. Incorporating a multi-dimensional, multi-problem disease registry, Cielo Clinic’s robust search and report-generation tools enable clinicians to proactively manage their entire patient population, tracking all care measures. Currently in use with customers ranging from the ambulatory care clinics of large health systems to private medical practices and rural hospitals, Cielo Clinic helps providers dramatically improve their performance with respect to the screening, prevention and management of chronic diseases.
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