Vancouver-based Telus Ventures has made a “significant investment” in Get Real Health, a global patient engagement software company based in the US.
Get Real Health specializes in personal health record technology, powered by a software platform called InstantPHR. Telus says that the funding stake “spotlights the potential both organizations see in the fast-moving personal health IT space,” a rapidly growing industry expected to grow to $250 billion by 2015, according to the World Bank.
According to Telus, the funding will allow Get Real Health to accelerate the development of new features and functionality of Get Real Health’s software; build its customer support capability and offer customers more tools to help them be successful with its software; expand its marketing and sales efforts; and form new strategic alliances to gain increased market access.
“We at Get Real Health are very excited to deepen our excellent relationship with Telus through this investment,” says Mark Heaney, Get Real Health’s CEO. “The personal health market is hot—and getting hotter—which makes the timing of this investment a prescient move for Telus and a game-changing opportunity for us at Get Real Health.”
Since January 2011, Telus Health has been the exclusive InstantPHR partner for Canada.
“Telus Health is committed to changing the way Canadians look at healthcare through the use of innovative health technology,” says Paul Lepage, president of Telus Health. “We share a common vision with Get Real Health to effectively engage patients and motivate them to take a more proactive approach to their health.”
It was the first time Get Real Health has sought outside funding. The value of the transaction was not disclosed.