Amalgam Rx, a company offering tools that can be integrated into a healthcare provider's existing EHR, announced a $20 million credit investment from Catalio Capital Management.
The senior secured term loan gives the company an initial $12 million at close to refinance its existing corporate debt and further its market expansion.
Amalgam Rx will also have access to Catalio's board of advisors and network of life sciences leaders, who will provide insights into commercial growth and product development.
WHAT IT DOES
Amalgam Rx provides tools embedded into the EHR, a SaMD platform and its Medical-Grade AI offering.
The EHR tools can be embedded into a provider's current EHR platform and provide insight on clinical decision support, value-based contracts and more.
Amalgam Rx also partners with healthcare companies to create digital health applications using its pre-built AI modules.
Its Medical-Grade AI offering is a conversational AI tool that providers can use to connect with patients. The company says the platform can be used to coordinate care and help patients manage symptoms and access support resources.
It also detects behavioral change in users through two-way dialogue and provides a summary report of a patient's symptoms and severity based on the AI conversational dialogue.
"We're excited to welcome Catalio as a strategic partner through its $20 million credit investment. Catalio's deep expertise in healthcare and life sciences, combined with their expansive venture network, makes them an ideal partner as we scale," Ryan Sysko, CEO of Amalgam Rx, said in a statement.
"This funding will accelerate the development and deployment of our medical-grade AI platform – enhancing decision-making for both patients and providers – and advance our mission to transform chronic disease management through intelligent, personalized care."
MARKET SNAPSHOT
Last year, Amalgam Rx announced a partnership with Otsuka Precision Health, a prescription digital therapeutics and healthcare innovation company. The partners launched Elevmi, a digital application designed to help caregivers assist family members who have been diagnosed with Alzheimer's Disease.
In 2023, Amalgam Rx announced that CVS Health would participate in its Series B funding round to support the scaling of its EHR-integrated platform. The amount CVS Health provided to the company was not disclosed.
That same year, Amalgam announced it raised $17.4 million in Series A funding from pharma giant Novo Nordisk, along with an expanded deal to market the digital insulin app Dose Check globally. Novo Nordisk and Amalgam Rx have been long-term partners.
