Digital health companies Covera Health and Medmo became a single entity on Tuesday, forming an end-to-end platform for managing diagnostic imaging.
The companies say the platform will reach approximately 6 million Americans in all 50 states, ranging from Fortune 10 and 100 employers, three of the five largest national health plans, and thousands of values-based primary care physicians.
Covera Health uses an artificial intelligence-powered platform to measure diagnostic accuracy at more than 1,100 diagnostic imaging facilities across the United States, analyzing completed images and flagging clinically important information back to clinical decision makers. The company’s website says it has analyzed 21 million patient journeys and generated more than 679,000 insights.
Meanwhile, Medmo is a care coordination platform for diagnostic imaging that partners with value-based care organizations, primary care groups, ACOs, and health plans. Its focus is on ensuring patients reach the correct imaging center, complete their tests, and receive timely follow-up care. The company says it has supported more than 1 million cases to date, reducing spending by 35% and increasing study completion rates by 30%.
Covera Health led Medmo’s $15 million Series A funding round announced in October.
Ron Vianu, CEO of Covera Health, said in a statement that where a patient undergoes an imaging test is “not a neutral decision,” adding that depending on the location and clinician, “meaningfully different diagnoses may be made.”
“That fluctuation was always there,” Vianu said. “Covera was the first to build the infrastructure to measure that and prove that directing patients to the right facility leads to meaningful and better outcomes. Our goal was to ensure that results are connected to the doctors and care teams who need to act on them. Medmo is the first platform in radiology that closes the loop from the moment a referral is written to the moment a patient is placed on the right treatment path.”
Mr. Vianu will remain CEO of Covera Health. Lucas Takahashi, CEO of Medmo, will continue to serve as CEO of the company, but will also serve as president of the combined organization.
Takahashi said in a statement that health care providers can “lose visibility” if a patient is ordered to undergo an imaging test and then leaves.
“Medmo bridges that gap, ensuring that patients arrive at the right facility, complete their studies, and get the results back to the doctors who need treatment,” Takahashi said. “Partnering with Covera means that clinical intelligence is embedded in every step of that effort. Together, we have built a platform that delivers something new for radiology: quality and coordination as one.”
