Cloud-based healthcare IT product company, Attune Raises USD 6 M from Norwest Venture Partners
Headquartered in Singapore, with a product development Centre in India, Attune Technologies, a cloud-based healthcare IT product company, today announced that it has raised 6 Million USD from Norwest Venture Partners (NVP), a global multi-stage investment firm.
Traditionally healthcare IT systems have been built in silos. There are different systems for scheduling, billing, HIS (Hospital Information System), LIS (Lab Information System), RIS (Radiology Information System), PACS and more. These systems require disparate vendors and do not necessarily provide integration capabilities. Therefore, the price and architecture of these systems and products put them at a disadvantage in the fast growing healthcare services market in this region.
Attune has taken a different approach to creating its technology platform (Attune Health Kernel), which was built to effectively manage patient data and workflow in the cloud. The product is currently used in hospitals, labs, imaging centers, day care centers, dialysis centers and clinics, and has logged in more than 2 million patient records to date.
Mr. Arvind Kumar, CEO & Director of Attune commented, “We experienced strong traction in both the HIS and LIS sectors last year. Funding from Norwest Venture Partners enables us to accelerate the growth of our cloud-based model in India as well as in other key global markets. Norwest has a strong track record in building successful cloud-based product companies and we are looking forward to working closely with the firm to grow our business further at this exciting time in the market.”
Attune’s cloud-based HIS, LIS and EHR system is based on its proprietary Health Kernel Platform. Leading Diagnostics lab chains such as Metropolis, MEDALL and others have implemented Attune’s cloud-based LIS system to track samples from the point of collection all the way up to storage. In addition, leading hospitals such as Kamatchi Memorial Hospital, Kurinji Hospital, and others are using Attune’s cloud-based HIS system to automate the complete hospital processes.
Attune Technologies has operational presence in India, Indonesia, Malaysia, Philippines and Vietna and plans to deploy the funds to enhance product development and scale its business operations across South Asia, South East Asia, Middle East and China.
Mr. Mohan Kumar, Executive Director, Norwest Venture Partners commented, “The healthcare services market is growing rapidly in the INDIA/ASEAN/MENA region with the creation of large chains of healthcare service providers. We believe that a cloud-based architecture naturally lends itself to integrating these large chains, bringing in operational efficiency and also integrating the various suppliers and partners in the healthcare ecosystem. We liked Attune’s product architecture and the management team’s expertise in developing national level EHR products—all of which drove our investment decision. NVP is very active in this sector globally, as it has invested in CareCloud which offers EHR, revenue cycle management and practice management software, as well as ClearDATA, a leading healthcare cloud computing platform and service provider.”