Industry

Technology

Company Type

​Healthinfo Tech

Size

$5 Million

Investment Type

Equity

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AltryxnHealth

Overview

  • Seeking $5 million to develop a disruptive AI enhanced solution to nursing staffing challenges

  • Altryx Health’s strategy allows nurses to take care of more patients safely and abate the nursing shortage

  • Healthcare is fully dependent on ample trained and motivated nurses

  • The US is experiencing the most significant nursing shortage in a generation

  • Significantly more nurses are leaving the profession than are graduating

Altryx Health

Opportunity

  • Hospitals spend over $1.2 billion annually to provide care, with nursing wages consuming $323 billion and growing quickly

  • As this generational nursing shortage intensifies, hospitals turn to agency and traveler nurses, premium pay and retention bonuses – escalating costs

  • Up to 30% of nursing time4 ($90 billion) is not providing care – it’s documenting care. Recapturing this time creates opportunity

  • By returning documentation time to the nurse, productivity and safety is enhanced, reducing costs and supporting retention

Altryx Health

Solution/Strategy

IT Development

  • Enhancing existing software and tech, build out Natural Language Processing to “listen” to the nurse and populate the Electronic Medical Record with AI capabilities

Clinical Partnerships

  • Working with multiple health systems in the overall design of the solution – pairing the features and capabilities to the greatest time relief for nursing

Develop Relationships

  • Using clinical partners and career relationships, prepare for post-beta sales cycles for the 5,000+ US acute care hospitals

Altryx Health

Management

Robert Friedberg

Chief Executive Officer

Robert Friedberg brings a wealth of operational and strategic acumen with demonstratable increases in driving growth and company value


Focused on the execution of the Altryx Health strategy and assuring the development of a fast-growing platform company

John Aldridge

Chief Operating Officer

John Aldridge is a subject matter expert in healthcare IT


Serial entrepreneur focused on the development of creative IT healthcare solutions, creating new opportunities for growth within the company and creating new revenues through innovation and contracting

Gary Zmrhal

Chief Financial Officer

Gary Zmrhal has extensive experience in all aspects of healthcare finance and financial operations


Focused on creating and sustaining value for the company and its shareholders


CPA and has served as CFO for a large cross section of healthcare entities and Big Four accounting firms

Altryx Health

Learn More About This Transaction Altryx Health
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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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