Exostar has announced an additional $10 million investment in its life science and healthcare business from the Merck Global Health Innovation Fund (Merck GHI). Merck GHI has $500 million under management and provides growth capital to emerging healthcare technology companies worldwide.
Reportedly, Merck GHI’s investment will allow Exostar to enhance and expand its HIPAA – compliant solutions that help pharma companies, healthcare providers, and others in the industry securely, productively, and compliantly collaborate with one another to develop new drugs and therapies and deliver the best possible patient care. Exostar’s information security solutions – such as the cloud-based Secure Access Manager (SAM) for federated identity and access management with web-based single sign-on – protect sensitive data and intellectual property while promoting the ongoing migration to partner-centric research and development and digital health.
The latest round of funding follows a $5 million investment by Merck GHI in October 2014. Exostar’s life science and healthcare community comprises over 1000 global organisations who rely on SAM to access applications, exchange information, and conduct business. It also launched its ProviderPass solution that supports leading health IT vendors and healthcare providers with compliant electronic prescribing of controlled substances.
EH News Bureau