US-based virtual care provider Vesta Healthcare has secured an investment of $65m alongside a new debt financing in a Series C funding round.
The equity portion of the funding round was led by RA Capital Management, a Boston-based company known for its investments in both public and private healthcare and life sciences companies.
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It also included contributions from several other investors, including Nationwide, Kaiser Permanente Ventures, CareCentrix/Walgreens, Oak HC/FT, Deerfield Management, Chrysalis Ventures, Generator Ventures and Lux Capital.
The debt financing for the round was arranged through Horizon Technology Finance, which is externally managed by Monroe Capital’s affiliate Horizon Technology Finance.
Vesta Healthcare board member and RA Capital Management venture partner Dr Michael Sherman said: “RA Capital Management is excited to lead this equity round and support Vesta Healthcare’s groundbreaking work.
“Vesta’s unique model of leveraging caregivers to bridge the gap between healthcare and home care has immense clinical potential.
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By GlobalData“We are excited to see how Vesta’s solutions will continue to improve healthcare outcomes for those with home care needs.”
Vesta plans to use the funding to develop its technology and services, which currently support more than 50,000 patients.
The company’s offerings range from home-based primary care to passive monitoring systems, all intended to enhance the quality of life for those receiving care at home.
By integrating patients, home care agencies, caregivers, healthcare providers, family members and insurance plans, Vesta Healthcare aims to create a more connected care environment.
Vesta Healthcare CEO Randy Klein said: “The home is the last frontier of healthcare, and caregivers are the most vital yet disconnected resource in the delivery system.
“We’re proud of what we’ve built with the support of our existing investors and thrilled for RA Capital Management, Chrysalis and Horizon to join the team.”
