BEKHealth Secures $4 Million in Funding to Expand Availability and Adoption of its AI-Powered Clinical Research Software Platform
Support from a consortium of leading healthcare investors and Change Healthcare will enable the company to grow platform to streamline and automate clinical research processes
Stamford, Conn. (June 21, 2021) – BEKHealth today announced $4 million in funding to accelerate the adoption of the company’s clinical research software platform. BEKHealth’s AI-powered platform accelerates and improves clinical research processes by combining electronic medical record (EMR) data processing, feasibility and site selection, precision patient trial matching, and care coordination.
Excelerate Health Ventures, a leading digital health-focused early-stage venture capital firm, led the financing round with participation from syndicate partners Boston Millennia Partners, Connecticut Innovations and Martin Ventures. Change Healthcare also joined the round as a strategic commercial partner. The funding will enable BEKHealth to continue to grow its team and respond to increasing demand from healthcare and clinical research organizations.
Fueled by cutting-edge machine learning, BEKHealth’s AI models combine more than 400 unique medical libraries and 70,000 research protocols with an interoperable clinical data model to power a highly accurate and intuitive clinical research software platform.
“For years, clinical research sites, research personnel, and trial participants have been underserved by aging technology, cumbersome workflows, and poor and untimely access to critical data," said Jason Baumgartner, founder and CEO of BEKHealth. "By leveraging a unique combination of machine learning and directly integrating EMR data, BEKHealth is helping researchers bring lifesaving and life-extending therapies more quickly to the patients who need them. With support from our new investment partners, we’ll be able to expand these efforts on a much larger scale."
BEKHealth has experienced significant growth driven by the use of technology and analytics in the clinical research and healthcare sectors as well as today’s increasingly virtual healthcare environment where doctors and clinical staff are challenged to coordinate research in a timely and safe manner. The COVID-19 pandemic further underscored the critical importance of speed, efficiency and accuracy as it relates to patient enrollment for clinical trials.
“BEKHealth's platform is the most advanced system for ingesting and processing both structured and unstructured EMR data, evaluating site feasibility and leveraging machine learning algorithms to drive automated identification of protocol-eligible patients daily,” said Andy Schwab, partner at Excelerate Health Ventures. “BEKHealth helps clinical research organizations cut timelines, improve outcomes and increase revenue in ways that no other platform can.”
“BEKHealth is important in our efforts to support healthcare providers in matching their patients to clinical trials in order to improve access and expand treatment options,” said Faisal Mushtaq, senior vice president of Clinical Network and Health Sciences at Change Healthcare. “Our hope is to help accelerate providers’ ability to find highly qualified patients to join appropriate clinical trials nationally.”
BEKHealth Corporation is a privately held, venture-backed business based in Connecticut. BEKHealth was founded to serve a core need of clinical research – more accurate and automated trial feasibility and patient trial matching. By combining a proprietary AI-powered EMR data processing engine with easy-to-use and impactful workflow solutions, we provide sites and CROs the ability to achieve “the last mile” to recruit the right patients more rapidly. For more information, visit www.bekhealth.com.