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HTC
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Explorys was launched in 2009 by two data management veterans in collaboration with the Cleveland Clinic. Located in the Cleveland Health-Tech Corridor, the company provides a secure cloud-computing platform for data management, analytics and outcomes measurement in the health care industry. It clients include pharmaceutical companies, medical device firms, contract research organizations and provider health systems including Cleveland Clinic, MetroHealth, Summa and University Hospitals..
Explorys addresses the national strategic imperative to leverage electronic health records for the improvement of medicine through its proprietary software and database. The company has developed a network of healthcare providers contributing over a billion clinical records updated on a daily basis.
The Explorys network enables the discovery of critical correlations, trends, and outcomes across millions of patients, clinical records and clinical records – providing a tool to measure, track, and understand treatments and outcomes to deliver safer, more efficient, and more effective health care.
Pharmaceutical, biotechnology, and medical device companies are faced with growing challenges to optimize their R&D and market models. This is combined with increasing pressure to implement more effective vigilance relating to the detection, assessment, and prevention of adverse drug effects.
Explorys represents a leap forward for life science by providing both longitudinal and clinically rich insight into populations. By leveraging this knowledge, life science leaders can make more informed investments in both wide-scale and niche solutions, potentially saving hundreds of millions of dollars while delivering improved products to a greater range of patients
Explorys raised $1 million in their Series A round led by 23Bell in October 2009. In August 2010, the company secured $2.55 million Series B financing from Santé’ Ventures, with follow-on participation from Cleveland Clinic Innovations. Explorys also received a $17.6 million, 10-year job creation tax credit from the State of Ohio for potentially creating more than 300 jobs.
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