October 26th, 2010
Kryptiq partners with Surescripts to reinvent healthcare and gets some extra cash to boot
It’s always nice to see the kids do well. Especially when they’re the great grandkid of the Portland startup scene.
You see, Kryptiq is a descendant of a long line of Portland startups. Some folks started at Tektronix and then left to join startup Mentor Graphics. And then some of those folks from Mentor Graphics left to join startup MedicaLogic. And then MedicaLogic folks wound up at Kryptiq.
And today, that startup whippersnapper had some major news: Kryptiq and Surescripts have envisioned a way to revolutionize the secure sharing of health information.
Starting in December 2010, Surescripts will offer several new services – leveraging Kryptiq leading clinical messaging technology – to allow virtually any physician or healthcare organization around the country to share clinical information securely and efficiently, within their existing workflows.
This is significant news for the nation’s healthcare system as it removes one of the most fundamental barriers to effective information sharing today – the lack of an open network and transport layer between disparate systems. And it is significant news for Kryptiq. Our technology will now be a core part of Surescripts’ new services and directly accessible to hundreds of EHRs and thousands of providers across the country. This will significantly expand the company’s reach.
What’s more, Kryptiq has also taken on some additional funding from Surescripts, Mike Rogoway is reporting.
Additionally, Surescripts will invest an undisclosed sum in Kryptiq to help finance the project, which will quadruple the Hillsboro company’s customer base.
“We may need some of that capital to deliver on that, to hire developers and make that happen,” said Kryptiq chief executive Luis Machuca. “It’s a minority investment, but it’s not trivial.”