Remote patient monitoring and virtual care company CoachCare secured a $48 million strategic growth investment.
Integrity Growth Partners led the round with participation from Topmark Partners.
WHAT IT DOES
CoachCare works with individual practices and hospital systems to provide a remote patient monitoring service for patients with acute and chronic conditions, and it offers connected devices for providers to capture patient data.
The New York-based company also provides a virtual health platform for follow-ups and chronic care management.
The company will use the funds to accelerate its growth.
“CoachCare has been growing rapidly, both organically and through M&A, and we look forward to partnering with IGP and leveraging its considerable software and operational expertise as we continue to build our business and enhance our product offerings for customers,” Andrew Zengilowski, CEO and cofounder of CoachCare, said in a statement.
MARKET SNAPSHOT
CoachCare acquired four companies last year.
In January 2023, it purchased NVOLVE, a remote patient monitoring company focused on pain, spine and orthopedic specialties. The acquisition added providers in South Carolina, Georgia, North Carolina, Tennessee, Texas and Virginia to CoachCare’s offerings.
The same month, the company also announced it had signed an agreement with the digital health company CareSpan Health to provide remote patient monitoring to CareSpan patients.
In April, CoachCare acquired Carbon Health’s cardiology and nephrology-focused healthcare platform Alertive, and in September, CoachCare purchased Iowa-based RPM company WebCareHealth.
In December, CoachCare acquired primary care and cardiology-focused platform Verustat to expand its remote patient-monitoring capabilities.
Other companies offering remote patient monitoring include Best Buy’s home care and RPM platform Current Health, startup Alio, Texas-based company Vivify Health and AI-backed remote monitoring and digital therapeutics company Biofourmis.