Health system’s VC fund invests in software company

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The Smart Room platform creates a fully digital environment for patients and staff through several touchscreen devices. Graphic courtesy eVideon

A health-focused venture capital fund is supporting a locally based software company.

Spectrum Health Ventures is supporting Wyoming-based eVideon, which develops digital products meant to help health systems achieve better care transitions, higher satisfaction scores, and streamline workflows and efficiency.

The funding will support eVideon’s efforts in expanding its market share and cultivating products, the partners said.

This funding comes at a pivotal time for eVideon, the company said, having recently announced a package of Smart Room products, which builds on the company’s interactive patient TV platform.

The platform creates a fully digital environment for patients and staff through several touchscreen devices.

The collection of devices includes a beside tablet mounted on an articulating arm, allowing the device to continuously charge while preventing loss or damage. A digital door display informs providers with patient precautions and service requests, among other pertinent patient-related information. A digital whiteboard replaces the need for a traditional patient dry erase board and fully integrates with real-time data.

The platform also allows patients to connect with the eVideon system through personal devices.

“This funding will significantly impact our ability to innovate and serve our hospital partners with cutting-edge technology like the Smart Room,” said Jeff Fallon, CEO of eVideon.

“This decision emphasizes our ongoing commitment to driving growth and providing value for companies that have the potential to change the future of health care,” said Scott McLean, managing director at Spectrum Health Ventures.

Beyond its investment, representation from Spectrum Health Ventures is joining the eVideon advisory board and board of directors.

“With their invaluable insights, we will be able to more meaningfully evolve our offerings and continue to address the needs of patients and providers alike,” Fallon said.

Calder Capital represented Spectrum Health Ventures as its buy-side mergers and acquisitions advisory firm.

Terms of the transaction were not disclosed.

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