Copient Health, a software provider that assists hospitals in improving patient access and more effectively utilizing its operating rooms, announced a $3.2 million Series A funding round led by Atlanta Ventures with participation from First Trust Capital Partners and continued investment from Atlanta Seed Company. The funds will be used to rapidly expand the company’s market reach and to support the ongoing development of the product.
“Copient Health was established specifically to address the core inefficiencies associated with Operating Room scheduling. This funding will allow us to rapidly expand the impact of our proven solution,” said Michael Burke, founder and CEO of Copient Health. “As health systems see an exceptionally dynamic environment for performing surgeries, a solution that ensures their scarce and costly OR resources are deployed most effectively is a requirement. Site-neutral payment pressures and ambulatory surgery centers’ expanding procedure scope create an impetus for ORs to rapidly evolve.”
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“The pressure to improve our healthcare system’s ability to effectively and economically deliver care continues to increase,” said A.T. Gimbel, Partner at Atlanta Ventures. “Machine learning has the opportunity to make quantum improvements in the way that care is delivered and health systems are operated. We’re thrilled to support Copient Health in this endeavor.”
“I’ve worked with the Copient Health founders on their previous ventures,” said Jon Phillips, Managing Director and Head of Private Equity for First Trust Capital Partners. “They’ve proven an ability to identify key challenges in healthcare, innovate creative solutions, and build a great company.”
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A hospital’s operating rooms provide the bulk of the financial support of its mission. They are typically a hospital’s biggest source of revenue and one of its largest costs, yet operating rooms often sit idle. When operating room time goes unused because of scheduling issues, hospitals’ financial pressures increase, and patient access to care decreases. Copient Health provides software that uses machine learning to identify in advance when operating rooms will be underutilized, then puts that time into the hands of providers who can use it. Hospitals realize better patient access, more flexibility in scheduling, and improved margins.
“We’ve known the founders of Copient Health through our fund, and through the Atlanta startup community. We’ve followed their previous successes closely,” said Jamie Hamilton, Managing Director of Atlanta Seed Company. “We were excited to participate in their seed funding and welcome the opportunity to add to our investment in this Series A round.”
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