Safeguard Scientifics, Inc. (NYSE:SFE) deployed $7.5 million as part of a $10.0 million Series B financing for Quantia, Inc. Existing investors, including Fuse Capital, contributed the remaining $2.5 million in the round.
Founded in 2006 and headquartered in Waltham, MA, Quantia’s mobile and web-based physician relationship management (PRM) platform, called QuantiaMD, enables principal participants throughout the healthcare spectrum―including health systems, payers, pharmaceutical companies, and medical device companies―to reach, engage and interact with their high-value physicians in a way that ultimately creates revenue opportunities, reduces costs, saves time, and improves quality of care.
Quantia utilizes a mix of social media, game mechanics and engagement science to help its clients effectively convey relevant information and shared objectives with physicians and clinicians. These unique capabilities, coupled with the breadth and depth of Quantia’s extensive reach across practicing U.S.-based physicians, has helped Quantia’s clients to develop deep mutually beneficial relationships with physicians and clinicians in a way that leads to real changes in behavior.
“We are excited to work with a seasoned management team that has a deep understanding of technology, healthcare data, healthcare analytics, social media, and physician engagement,” said Gary J. Kurtzman, MD, Managing Director, Healthcare at Safeguard, who, along with Jim P. O’Connell, Principal, Healthcare at Safeguard, will be joining Quantia’s board of directors. “Decisions made by physicians and other healthcare providers drive approximately 80% of the nearly $3 trillion annual healthcare spend in the U.S. Quantia offers a highly differentiated digital platform that actively engages its growing network of physicians by providing meaningful content and an online forum to discuss important and relevant issues. In addition, Quantia provides a unique way for health systems, payers, pharma and medical device companies to actively engage physicians.”Health systems, payers and pharmaceutical companies have struggled with effective ways to communicate with physicians. On an annual basis, pharmaceutical companies spend $30 billion marketing and promoting to U.S.-based physicians. As demand for physician time has increased and new regulations come into effect, access to physicians by pharmaceutical sales reps will continue to decline, and market dynamics point to an increasing shift to digital tools by pharmaceutical companies to engage physicians. Health systems and payers similarly struggle to effectively communicate policy changes, program changes and best practices to their networks of physicians and, in turn, face reform-driven pressure to align physicians around new payment and care models.