Seattle-based Providence’s incubation model strikes again. The health system’s Digital Innovation Group has created a company called Praia Health, whose platform is designed to transform the way third-party consumer solutions can be incorporated into a health system’s digital experience.
Other Providence spinoffs include Xealth, a Seattle-based company that enables the deployment of digital therapeutics applications for many large health systems.
Announced last year, Praia Health securely manages data exchange between the solution, the health system’s electronic medical record, and other health system data sources, increasing the flexibility and speed of third-party integration, while which dramatically reduces its cost, the company said.
Praia Health has been in use in Providence since January 2022 and currently supports over 3.5 million user accounts. Community Health Network, an Indiana-based health system, recently licensed the Praia Health Consumer Platform for implementation in 2024.
“Praia Health will enable us to remove traditional barriers to patient care by personalizing people’s health journey and seamlessly connecting them with the right services, products and resources, in an automated way,” said Patrick McGill, MD, executive vice president and director. head of transformation at Community Health Network, in a statement.
Seventeen digital health companies have joined the Praia Health Ecosystem Partner program, including Atlas Health, Cedar, DexCare, Foodsmart, Fortuna Health, Kyruus Health, Livara Health, Medbridge, Modivcare, Omada Health, Rosarium Health, Season Health, Vale Health, Wellthy, Wildflower Health, Validic and Xealth.
As a Praia Health clinical integration partner, Xealth enables digital solutions to be incorporated into the physician experience and brings more than 50 additional connected digital health partners to the Praia Health ecosystem. Additionally, Praia Health has secured Panda Health, AVIA Marketplace, Xealth and West Monroe as channel partners for the platform.
The company announced the closing of a $20 million oversubscribed Series A financing led by Frist Cressey Ventures and backed by SignalFire, Espilon Health Investors and Providence Ventures.
The new company is led by startup and healthcare industry veteran Justin Dearborn, who has served as executive-in-residence within the Providence Digital Innovation Group (DIG) since September 2023. The Praia Health platform is the fourth technology incubated in DIG under the leadership. by Sara Vaezy, Director of Strategy and Digital at Providence. Frist Cressey partner Navid Farzad, SignalFire partner Yuanling Yuan and Vaezy have joined Dearborn on Praia Health’s board of directors.
“Partnerships and collaboration across industries are new imperatives for health systems, and an open and efficient platform for data sharing and consumer engagement is a prerequisite that didn’t exist,” Dearborn explained in a statement. “There is great value associated with streamlining the delivery of the broad spectrum of consumer-facing solutions that a health system wants to implement today, both operationally and from a patient and caregiver satisfaction perspective. We are excited to see that both “Health systems like digital health solutions companies are already recognizing the value as well.”
“Providence’s incubation model has some incredible advantages: it allows us to test the technology in a real-world setting and work alongside other health systems and technology partners during the incubation process,” Vaezy added in a statement.
