Remote patient monitoring and virtual care company CoachCare has 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 clinics and hospital systems toemote offers patient monitoring services for patients with acute and chronic illnesses, and also provides connected devices for healthcare providers to capture patient data.
The New York-based company also offers a virtual health platform for follow-up and chronic disease management.
The company plans to use the funds to accelerate its growth.
“CoachCare has grown rapidly through both organic growth and M&A and we look forward to partnering with IGP and leveraging their leading software and operational expertise as we continue to build our business and enhance our product offerings for our customers,” Andrew Zengirowski, CEO and co-founder of CoachCare, said in a statement.
Market Snapshot
CoachCare acquired four companies last year.
In January 2023, the company acquired NVOLVE, a remote patient monitoring company focused on pain, spine and orthopedic specialties. The acquisition adds providers in South Carolina, Georgia, North Carolina, Tennessee, Texas and Virginia to CoachCare’s offerings.
That same month, the company also announced it had signed a deal with a digital health company. CareSpan Health offers remote patient monitoring to CareSpan patients.
In April, Coach Care It acquired Carbon Health’s cardiology and nephrology-focused healthcare platform Alertive, and in September Coach Care acquired an Iowa-based RPM company. Webcare Health.
In December, CoachCare acquired primary care and cardiology-focused platform Verustat in an effort 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 Vivify Health and AI-powered remote monitoring and digital therapeutics company Biofourmis.
