US-Based Veradigm Invests $30 Million in Singapore's Behavioral Health Co. Holmusk

The investment aims to leverage digital health technologies and real-world data to enhance care delivery, improve behavioural health outcomes and enable deeper insights into behavioural healthcare.

US-based healthcare data and technology solutions provider, Veradigm has made a strategic investment of $30 million in Holmusk, a global company specialising in Real-World Data (RWD)in behavioural health.

The investment aims to leverage digital health technologies and real-world data to enhance care delivery, improve behavioural health outcomes and enable deeper insights into behavioural healthcare.

Reportedly, Veradigm is now set to contribute cohorts of millions of behavioural health patients and related de-identified clinical data to Holmusk's NeuroBlu Database. This Real-World Data (RWD) provides insights into how behavioural healthcare is delivered. 

With this collaboration, the NeuroBlu Database will now be able to support a broader range of research endeavours and address complex behavioural health questions by creating targeted research cohorts.

Sharing his views, Nawal Roy, founder and CEO, Holmusk, said 'œThis strategic investment represents significant growth for our NeuroBlu Database, enabling us to move closer to our vision of creating a single source of truth for behavioral health. This is a crucial step as we work to help eliminate the gaps in evidence, information, and learning that have held the behavioural health industry back from moving to an outcome-based reimbursement system and a learning healthcare system.'

Earlier, Veradigm led Holmusk's Series B financing round as the primary investor.  However, with this new investment, Veradigm is further strengthening its financial commitment to Holmusk, continuing to build upon their collaboration. 

This strategic decision marks a substantial expansion for the NeuroBlu Database, to become a comprehensive and authoritative source of information for behavioral health.

Expressing his views, Rick Poulton, CEO, Veradigm, said, 'œWe look forward to taking this next step in our collaboration with Holmusk. Holmusk's expertise in preparing clinical real-world data for analysis, including mapping the data to a common data model, will be invaluable in unlocking new insights from our existing resources. We also believe it will enable the creation of much-needed evidence to improve behavioural health outcomes around the world.'

Founded in 2018, Veradigm is a health information technology, analytics, and intervention solutions startup. It offers physician practices, hospitals, and other healthcare providers with practice management and electronic health record (EHR) technology. Moreover, it also provides products for patient engagement and care coordination, as well as financial and analytics technology.

While, the Singapore-based healthcare data and technology solutions provider, Holmusk,  was founded in 2015. It develops a real-world evidence platform in behavioural health and chronic diseases to expand data-driven, evidence-based care for people managing behavioural health conditions.

In another similar instance, US-based Augmedix expanded its behavioural health coverage by the end of 2023. This move sought to supplement behavioural healthcare providers with its newest product, Augnedix Go. This was followed by a huge demand for behavioural healthcare services in the country.

Likewise, In June this year, India's leading mental health platform LISSUN launched its first offline centre for children with developmental and behavioral disorders. This centre is equipped with advanced facilities including counselling rooms, occupational therapy areas, and assessment zones, among others.