BOSTON–(BUSINESS WIRE)–Current Health – the main enterprise distant care administration platform – at the moment introduced it has raised $43M in Collection B financing. The spherical was led by Northpond Ventures, with further financing from LRVHealth, OSF HealthCare, Part 32, Components Well being Ventures, and present buyers. Andrea Jackson, Director at Northpond Ventures, and Tripp Peake, Common Accomplice at LRVHealth, will be a part of Present Well being’s Board of Administrators.
The Collection B financing, which comes from high healthcare and pharma VCs, in addition to a number one hospital system, speaks to the worth of Present Well being’s platform throughout a broad array of stakeholders. The corporate’s platform is utilized by lots of the world’s main well being methods together with (however not restricted to) Mount Sinai Well being System, Geisinger Well being, and the UK Nationwide Well being Service, to observe and handle affected person care at house. It is usually utilized by main pharmaceutical corporations, corresponding to AstraZeneca, to maneuver supply of complicated remedy into the house and assist home-based drug trials. The funding comes on the heels of three,000%+ progress in year-over-year income, making Present Well being one of many quickest rising healthcare corporations.
“It’s uncommon to see an organization efficiently execute throughout each healthcare supply and drug supply – that is what makes Present Well being so particular,” remarked Andrea Jackson, Director at Northpond Ventures. “As healthcare strikes into the house, pharmaceutical corporations are growing new fashions that transcend the tablet and allow higher supply at house with fewer unintended effects at decrease price. Present Well being’s confirmed monitor document of delivering throughout each pharma and well being methods makes them the proper firm to bridge this hole.”
Working on the nexus of healthcare supply and drug supply, Present Well being brings earlier, preventive remedies to sufferers at house. The corporate gives a single level of perception into affected person well being exterior the hospital, ingesting knowledge from a whole bunch of distant monitoring gadgets – together with patient-reported knowledge and digital medical document knowledge – to determine and predict the onset and development of illness. Present Well being’s physician-led digital command middle gives 24/7 care administration functionality and seamlessly integrates with a spread of in-home healthcare companies, corresponding to blood checks, sturdy medical tools (DME), and meal supply – offering a single, built-in answer throughout the care continuum.
With the expansion of different fee fashions, growth of fee-for-service reimbursement, and consumer demand for virtual care at an all-time high, shifting healthcare companies into the house has turn into a strategic crucial for well being methods and pharmaceutical corporations alike.
“Within the subsequent 5 years, we’ll see a majority of healthcare companies delivered in a affected person’s house, with the hospital reserved for intensive care, trauma, and surgical procedure,” mentioned Chris McCann, CEO and Co-Founder, Present Well being. “To make this shift, healthcare suppliers should transfer away from level options and develop system-wide methods to ship care at house. We’ve constructed Present Well being to function the ‘mission management’ for organizations to transition healthcare from the hospital to the house and meet sufferers the place they’re. Our Collection B financing, from the high buyers in each healthcare and pharma, will allow us to quickly develop on a world scale and meet the demand for an built-in, enterprise strategy.”
Extra Investor Quotes
“Residence well being took a large leap ahead over the previous 12 months, and whereas the pandemic accelerated adoption, it was additionally a giant studying expertise that helped expose gaps in digital care supply,” mentioned Tripp Peake, Common Accomplice at LRVHealth. “There are such a lot of applied sciences to deal with totally different facets of digital care and the tempo of innovation continues to select up. However what’s lacking is precisely what Present Well being gives – the glue to carry all of it collectively. The Present Well being staff has been engaged on this problem for years – nicely earlier than the pandemic – and has a mature platform that may assist handle sufferers throughout therapeutic areas, up and down the acuity ladder. It’s a platform that may allow transformational progress for well being methods.”
“We have been trying to find a single platform that we may use to ship care at house throughout our complete affected person inhabitants and the whole care continuum,” mentioned Stan Lynall, Vice President Enterprise Investments at OSF HealthCare. “Present Well being has that potential to carry every little thing collectively in a single place and we’re very excited to companion with them.”
“Accelerated by COVID-19, high-quality healthcare is shifting out to ‘the sting,’ away from acute care environments and into the house. COVID-19 can be accelerating the push for, and broad adoption of, digital or hybrid digital medical trials with at-home components. FDA-approved platform options like Present Well being, that may remotely handle sufferers of a number of acuity ranges, are the important thing to unlocking the worth of decentralized at-home look after hospitals, researchers, and sufferers, alike,” mentioned Andy Harrison, Managing Accomplice, Part 32.
About Present Well being
Present Well being is the main enterprise distant care administration platform, centered on enabling early, preventive healthcare with the intention to enhance affected person well being outcomes and cut back the price of care. The corporate gives a single level of perception into affected person well being at house, ingesting knowledge from a whole bunch of distant monitoring gadgets – together with patient-reported knowledge and digital medical document knowledge – to determine and predict the onset and development of illness. Present Well being’s physician-led digital command middle gives 24/7 care administration functionality and seamlessly integrates with a spread of in-home healthcare companies to supply a single, built-in answer throughout the care continuum. Present Well being empowers well being methods and pharmaceutical corporations to tailor healthcare at house to all affected person populations. For extra data, go to https://www.currenthealth.com/ and comply with us on Twitter and LinkedIn.