Local health IT companies gain funding

Two Madison-based health technology companies announced they have received investments, according to a report from the Wisconsin State Journal. Wellbe, maker of digital health care tools for patients and providers, has received more than $2 million in investment commitments by HealthX Ventures with co-investment by WISC Partners. Wellbe’s platform, ConnectedCare, is used by 21 health care systems in 16 states in orthopedics, bariatrics, cardiology, oncology, and other services. Wellbe plans to use the funding to expand into new markets. Veda, a company that helps health care companies process data, closed on $45 million in Series B funding led by Oak HC/FT. The company will use the funding to scale up and address requirements of the No Surprises Act, which restricts excessive out-of-pocket costs to consumers.