CrossChx gets investment from Drive Capital

August 9, 2013 - 

Drive Capital, a new investment firm has just announced an unspecified investment into CrossChx, a company specializing in biometric patient identification.

According to the company, CrossChx develops and deploys real-time biometric solutions to prevent medical identity fraud, improve health outcomes, and enable nationwide health information exchange. By scanning the patient’s fingerprint, CrossChx instantly verifies a patient’s identity and links the patient to the appropriate medical benefits to make it easier for healthcare professionals to ensure the right person receives the right care.

“When CrossChx was exploring growth options, we made a conscious decision to partner with accomplished investors that could provide more than just capital, and we found that strategic partner in Drive Capital,” Sean Lane, chairman and co-founder, CrossChx said. “Drive Capital grasped our long-term vision and has been instrumental to the rapid growth of CrossChx.”

Drive has also announced an investment into Roadtrippers, a web-based company that helps users plan road trips.

Reported previously, CrossChx partnered with Holzer Health Systems last year as a part of a project that aimed to help monitor prescription painkiller abuse. 

As recently reported in BiometricUpdate.com, much of the growth in the healthcare biometrics market has been driven by adoption in the private sector. According to Transparency Market Research, the healthcare biometrics market is expected to grow at 33.3% CAGR from 2012 to 2018, with the United States accounting for the majority of the healthcare biometrics market share.

Another recent research report has found that people are generally trusting of some organizations – including healthcare – to use biometrics for identity verification

 

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj