Xsolis plans to use the funding to accelerate growth. Here are top-line bullets you need to know.
Xsolis, a healthcare software company, has raised $75M in a minority growth investment from Brighton Park Capital.
HOW’S THE COMPANY PERFORMING?
- Tennessee-based Xsolis offers utilization management software. Its Cortex system aggregates EMR data and provides predictive analytics to health systems and hospitals, while automating case review for payers.
- Xsolis is a portfolio company of Powered Health.
WHY DOES THE MARKET MATTER?
- The healthcare artificial intelligence market is projected to grow at a CAGR of 41.4% and reach a value of $51.3B by 2027, according to Meticulous Research.
- There has been a rise in investments in this space; artificial intelligence-focused health care companies have raised nearly $2B in Q3’20, according to CB Insights. In addition, around 11 companies closed over $100M in funding rounds since March 2020.
- Covid-19 has sped up the adoption of AI in healthcare as organizations are looking to meet increasing demand with limited resources.
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