CardioOne, which built a physician enablement platform for independent cardiologists, has been acquired by WindRose Health Investors. Photo via cardioone.com

A Houston health tech startup founded only last year has exited to a New York private equity firm.

CardioOne, which built a physician enablement platform for independent cardiologists, has been acquired by WindRose Health Investors. The complete terms of the deal were not disclosed, but according to a WindRose news release, the firm will provide up to $100 million of additional capital to go toward supporting CardioOne's growth.

The fresh influx of capital will go toward expanding and enhancing existing service options. The CardioOne leadership team will continue to be at the helm of the startup.

"We are excited for the opportunity to partner with WindRose as CardioOne embarks on its next chapter of growth," Dr. Jasen Gundersen, CardioOne's CEO and co-founder, says in the release. "We believe that working with WindRose, which has a history of successfully partnering with companies to help navigate the transition to value-based care, will empower us to continue supporting independent cardiologists while developing additional solutions that maximize each practice's potential in the shift to VBC arrangements."

Last year, CardioOne raised an $8 million seed round and announced key partnerships at clinics in New Jersey, Florida, and Pennsylvania, in addition to existing relationships in Texas and Maryland. CardioOne also partnered with MedAxiom, an organizational performance solutions provider in the industry.

"CardioOne's unique, physician-aligned model meets the market where it is and positions the Company to take advantage of the growing desire among cardiologists to maintain their independence," Oliver Moses, managing partner with WindRose, adds. "We believe CardioOne delivers a compelling tech-enabled offering to the independent cardiology market and has significant growth potential as the Company builds upon its momentum in 2023. We are excited to join forces with Jasen and his team as they continue to build upon the differentiated platform they have created."

CardioOne has fresh funding and new partners, resulting in a five-state expansion. Photo via Getty Images

Houston heart health startup secures $8M in funding, announces new partnerships

cardiatric care

With fresh funding, a Houston-based health tech platform that's less than a year old has grown its United States footprint.

CardioOne, which has created a cardiology care delivery enablement platform that serves independent cardiologists, has closed an $8 million seed round of funding and secured three new partnerships. Axios and Crunchbase report that the round has closed, and CardioOne confirms the funding and new partnerships in a press release.

The company has three new partnerships with independent cardiology clinics in New Jersey, Florida, and Pennsylvania, Cardiac Associates of New Jersey, Twin Hearts LLC, and Corrieius Cardiology. The trio joins existing partner practices in Texas and Maryland.

In addition to joining forces with these practices, CardioOne has entered into a partnership with MedAxiom, which is described as being "the cardiovascular community’s premier source for organizational performance solutions," in the release.

“CardioOne is optimizing cardiology practice management and providing new options for independent cardiologists,” Joe Sasson, MedAxiom’s executive vice president of ventures and chief commercial officer, says in the news release. “With CardioOne, independent cardiology practices can access the scale and leverage typically reserved for large hospital groups and are empowered to grow through additional service lines, strong network relationships, and payor contracts, including value-based care arrangements.”

Dr. Jasen Gunderson, who's based in Denver, is the CEO and co-founder of CardioOne, which was founded last year. He explains the challenges of independent cardiologists, which includes inefficient revenue cycle tools, incomplete vendor management systems, and other tech-based and administrative obstacles — most of which CardioOne addresses.

“Inadequate and fragmented technology is at the root of many of the problems that independent cardiologists are facing today,” Gunderson says in the release. “CardioOne’s solution removes the heavy administrative burdens, empowering cardiologists to focus on their expertise and true passion – the practice of medicine without feeling forced into acquisition.”

CardioOne's mission is to continue to help cardiology practices maintain their independence while keeping up with demand, patient care, and business growth.

"Our independence and clinical autonomy has allowed our practice to provide more personalized care to our patients, but in a consolidating market... the resources and technology investments required to run a practice group today make staying independent more difficult than ever before,” Dr. John H. Lee of Cardiac Associates of North Jersey, says in the release. “CardioOne is a true collaborator, serving as an extension of our operations and allowing us to focus on doing what we love — caring for patients.”

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TMC launches new biotech partnership with Republic of Korea

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Houston's Texas Medical Center has launched its new TMC Republic of Korea BioBridge.

The new partnership brings together the TMC with the Osong Medical Innovation Foundation, or KBIOHealth. The Biobridge aims to support the commercialization of Korean biotech and life science startups in the U.S., foster clinical research, and boost collaboration in the public, private and academic sectors.

Through the partnership, TMC will also develop a Global Innovators Launch Pad to foster U.S. market entry for international health care companies. Founders will be selected to participate in the 10-week program at the TMC Innovation Factory in Houston.

“Gene and cell therapies are driving biotech innovation, opening possibilities for treating diseases once thought untreatable," William McKeon, president and CEO of the Texas Medical Center, said in a news release. "Expanding biomanufacturing capacity is essential to delivering the next wave of these therapies, and partnerships with leading innovators will strengthen our efforts in Houston and internationally.”

McKeon officially signed the TMC Korea BioBridge Memorandum of Understanding with Myoung Su Lee, chairman of KBIOHealth, in South Korea in October.

"This collaboration marks a significant milestone for Korea’s biohealth ecosystem, creating a powerful bridge between Osong and Houston," Lee added in the release. "By combining KBIOHealth’s strength in research infrastructure and Korea’s biotech talent with TMC’s global network and accelerator platform, we aim to accelerate innovation and bring transformative solutions to patients worldwide.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.