Watershed Health raises $13.6 million

Care coordination company Watershed Health announced the completion of a $13.6 million funding round led by First Trust Capital Partners, with participation from FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners and Wanxiang Healthcare Investments.

Watershed is on a mission to solve uncoordinated care by connecting health plans, hospitals, post-acute care, primary care providers, community-based organizations, and more to streamline communication, improve care coordination, and enhance patient outcomes. A shared patient record enables the exchange of information in real-time, including clinical documents, current health status, social determinants of health (such as food, housing and transportation) and contact information. Providers can communicate, execute a care plan and make up-to-date, informed decisions.

The company’s current customers include four out of six major US health plans, as well as thousands of clinical and non-clinical providers that are delivering care to more than five million patients.

“My work as a physician has shown me the consequences of uncoordinated care – the missed connections and the inefficiencies. It’s frustrating for providers and it’s harmful to patients. I started Watershed because I knew a better healthcare system was possible, and I wanted to solve the problems I was seeing in my community. Little did I know that Watershed would ultimately be advancing transformational change for the entire healthcare sector. Our work to drive coordinated care across healthcare communities is unbelievably compelling to both payers and providers, and we are expanding to help solve the problem of fragmented care nationwide.” – Dr. Chip Grant, an interventional cardiologist and founder and CEO of Watershed Health.