Denver-based NextHealth Technologies announced Thursday it received $8.5 million in funding to grow its engineering staff and make system enhancements to its healthcare platform.
Norwest Venture Partners, a venture capital firm out of Palo Alto, led the funding with participation from existing investors.
“With annual healthcare spending projected to surpass $16K per person in the U.S. by 2025, it has never been more important to provide consumers with the tools they need to make informed medical decisions,” Casper de Clercq, General Partner at Norwest Venture Partners, said in a statement.
NextHealth is an analytics platform that encourages assesses engagement to target unnecessary healthcare costs and reduce those costs for its members. A spokesperson for the company said in a statement that the technology has reduced member ER visits by 25 percent and regularly save members more than $12 per month.
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