"We continue to expand our investment in patient care by providing proactive and predictive notifications on imaging equipment uptime while increasing machine utilization via our strategic investment in Glassbeam," said Bradd Busick, SVP and CIO at MultiCare Health System. "The Glassbeam platform allows us to leverage remote diagnostic capabilities, so our BioMed staff avoid unnecessary travel and can remotely manage and troubleshoot issues proactively. This vastly improves machine uptime and utilization across the entire fleet of imaging modalities and moves us from viewing data that is interesting, to data that is actionable. The story is much bigger when you think of all the environmental and smart building infrastructure that powers our facilities. I am excited to partner with Glassbeam in this journey and enhance our Smart Hospital vision for the MultiCare enterprise."
This new funding comes on the heels of recent, validating customer and partnership announcements with Canon Medical Systems and Deloitte, two leaders in the manufacturing and services related to connected medical machines. Glassbeam has been doubling its annual recurring revenue since 2018, acquiring 75+ customers across 200+ facilities in the US including MultiCare Health System, UCSF Health, Scripps Medical, and Harris Health.
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About Glassbeam
Glassbeam is a pioneer in data and predictive analytics for connected medical machines that brings structure and meaning to complex data generated from a heterogeneous fleet of medical equipment. Only Glassbeam's patented cloud-based platform is designed to transform and analyze multi-structured data, delivering powerful solutions for enhancing machine uptime and utilization for organizations such as Canon Medical Systems USA, MultiCare Health System, UCSF Health, Scripps Medical, Harris Health, and US Radiology.
About Appian Way Asset Management
Appian Way Asset Management LP specializes in investment management services to pooled investment vehicles, single investor funds, or separately managed accounts for institutional clients, family offices, high net worth individuals, foundations, and fund of funds. Appian Way focuses primarily on investing opportunistically in public equity securities but will also invest in a wide range of other asset classes across public and private markets. The Appian Way team has significant investment experience in the industrials, materials, technology, consumer, and healthcare sectors. Appian Way employs a bottom-up and top-down fundamental investment approach combined with quantitative tools that attempts to optimize investment selection and risk management. The team draws on decades of experience in fundamental and technical analysis of financial statements, modeling, risk management, technology and predictive analytics, and a vast network of long-standing relationships within their coverage universe. As of November 30, 2021, Appian Way had approximately $500 million of assets under management.
SOURCE Glassbeam, Inc.
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