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TreeHouse Health Invests in Homegrown Healthcare Innovation

Sansoro Health, a Minneapolis-based electronic health records startup, has had a pretty good month. The company announced earlier this week that it had raised approximately $1.2 million in seed capital, including a substantial sum from TreeHouse Health, a health tech incubator on Loring Park.
Healthy Ventures, a San Francisco-based health tech fund, led the seed round. The fund’s involvement is a clear vote of confidence not just for Sansoro Health’s innovative EHR solution, but also or the state of MSP’s medtech industry in general.
“The seamless clinical data exchange between EMR [EHR] platforms and digital health vendors is critically important to achieving better health outcomes,” enthused Anya Schiess, Healthy Ventures general partner, in a statement announcing the round’s closing. “Sansoro Health’s real-time integration software bridges the gap to improve patient care.”
And the feeling was mutual. “We are proud to have the support of investors like Healthy Ventures who share our vision for EMR integration,” added Jeremy Edes Pierotti, Sansoro Health’s CEO. “We’ve had strong revenue since inception, which enabled us to bootstrap our development. This funding will allow us to further empower innovation by providers, payers, and digital health pioneers.”
Sansoro Health isn’t unique in its ability to bootstrap (until now). But it’s one more data point in favor of the argument that healthcare funders, including local players like TreeHouse and Bay Area guns like Healthy Ventures, are taking a more conservative approach in a capital-raising market that many impartial observers believe is overheated. When the smart money gets conservative, companies that can demonstrate their market potential — ideally, by pointing to balance sheets with real revenue from real clients — tend to come out ahead.
And a more measured funding landscape is good for MSP companies in general. Though data is sparse, Minnesota companies enjoy a longstanding reputation for prudent, iterative governance — a disadvantage when funders are all about flashy “next big things,” but a pronounced benefit during pullbacks.
And what about Sansoro Health, specifically? The company came into its seed round with a healthy head of steam. Healthcare Informatics, a noted industry publication, selected Sansoro as one of six “up and comers” for 2016 — a prestigious honor that the company is understandably touting left and right. It also won Venture+ Forum’s 2016 startup competition at this year’s Healthcare Information and Management Systems Society Annual Conference.
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