Remote patient monitoring (RPM) and virtual care management company CoachCare has announced a significant $48m strategic growth investment led by Integrity Growth Partners (IGP).
This financial investment is aimed at accelerating CoachCare’s expansion in crucial business areas.
The platform, developed by CoachCare, integrates software and connected devices with comprehensive outreach and monitoring services.
This combination equips healthcare providers with the necessary tools to implement and scale RPM and chronic care management (CCM), along with other virtual care management programmes. The result is enhanced patient outcomes and increased practice revenues.
Providers leveraging CoachCare's unified platform can offer superior treatment to patients with chronic conditions, mitigate staffing challenges, and improve their financial standing.
The investment from IGP, marking the second from its Fund II, targets high-growth entities within software and tech-enabled services that have demonstrated a strong product-market fit and are set for further expansion.
CoachCare CEO and co-founder Andrew Zengilowski said: "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.”
IGP's investment strategy concentrates on nurturing talent and organisational design, refining go-to-market strategies, facilitating mergers and acquisitions, and forging strategic partnerships.
Integrity Growth Partners partner Ryan Anderson said: “CoachCare is led by an experienced team that understands the unique opportunity presented by the fragmented RPM market, as well as the skills and discipline required to take the company to the next level.
“CoachCare has built an impressive and differentiated platform that is rapidly emerging as a market leader in RPM and virtual care management. We look forward to partnering with Andrew, Wes, and the entire CoachCare team as they embark on this exciting next phase of growth."
PEAK Technology Partners acted as the exclusive financial advisor for CoachCare for the transaction.
Legal counsel for CoachCare was provided by Whitman Breed Abbott & Morgan while Morris Manning & Martin represented IGP in legal matters.
