COHEALO
Founders: Brett Reed & Michael Slocombe
Headquarters: Boston, MA
Year Founded: 2012
Year Romulus Invested: 2013
Cohealo’s technology allows health systems to share medical equipment across facilities, enabling them to optimize spend, accelerate cash flow, and improve access to care. The company’s elegant, cloud-based platform is adding efficiency and analytics capabilities to often archaic health systems. The user-friendly process lets health systems centralize their assets on one platform, making it easy for administrators to locate and reserve equipment—and Cohealo takes care of the logistics for getting equipment where it needs to be when it needs to be there. Users can then access Cohealo’s data and analytics tools to gain insight into the utilization of their assets. With Cohealo, medical equipment becomes more valuable—both clinically and financially.
The Cohealo-Romulus story:
Cohealo’s management team heard Neil speak on a healthcare panel in 2013 and pitched us their seed round that same day. “I was impressed by their vision, but it was too early for us to invest,” recollects Neil. “So I offered to be helpful to them and introduce them to a few potential customer hospital systems.” Of the companies we mentor, Cohealo was one of the few that could convert these customer introductions into signed pilots; their tenacity and ultimate success stood out to us. After several months of mentoring them and seeing them execute early wins, we decided to partner with the team. Since then, we’ve grown with Cohealo and helped management on multiple fronts, but the team’s hunger to execute is still at the core of our partnership.
Romulus value in action: Authentic. Cohealo’s strength has been the authenticity with which its team operates internally and externally. This core value is further reflected in the transparency its platform provides to large and complex health systems the utilization of their assets.