The company, which has offices in the Cottonwood Heights area of Salt Lake County, said it had received the funding from Norwest Venture Partners and Sequoia Capital, both from the Bay Area, and Sorenson Capital of Utah.
Bullock said Sorenson’s $5 million investment was prompted by Health Catalyst’s position in helping deliver efficient results for health care providers. Health care is the No. 1 economic and humanitarian issue facing the U.S., he said.
"Being able to address that with quality of care and efficiency of care is what [Health Catalyst] does," Bullock said.
Health Catalyst provides software for what it calls a data warehouse, a database that stores information gathered by physicians and others regarding diagnoses and treatments of patients. It then analyzes that information in order to tell providers what works best for patients and what improvements might be made to improve outcomes and make systems more financially efficient.
Burton said the company in the past two years has brought out about 40 programs designed to measure outcomes and costs of specific conditions and diseases, such as diabetes.
Health Catalyst faces stiff competition from some industry database heavyweights such as Oracle and IBM, said Burton. But he said the Utah company’s advantage in the marketplace is that its products were designed specifically for health care providers and were not adopted from other industries. That’s important given the complexity of health care information and its analysis, Burton said.
The company has about 65 employees and is hiring, he said. Salt Lake Tribune
