Agetech News No. 48
Staffing Consolidation
Welcome back to Agetech News! We saw a lot of activity in June, including Care Career gobbling up four competitors all at once and Kevala divesting it's per-diem staffing business. Let's get into it...
June Highlights
Commure, an AI-powered healthcare technology platform for healthcare providers, raised $200 million to accelerate product innovation and expand go-to-market initiatives for its full-stack AI platform, including revenue cycle management, ambient AI clinical documentation, and practice management solutions. (Commure)
Omada Health, a virtual chronic care management platform for patients with conditions like diabetes and hypertension, raised $150 million in its initial public offering, achieving a valuation of approximately $1.1 billion. The company's shares opened at $23, marking a 21% increase over the IPO price, reflecting renewed investor interest in digital health companies. (Healthcare Dive)
Tennr, an AI-powered platform for automating patient referral workflows, raised $101 million to expand its products and grow its business with more healthcare providers. (Fierce Healthcare)
🎉 Care Career, a national healthcare staffing firm, has acquired four leading healthcare staffing firms—Alliant Personnel Resources, Amare Medical Network, MedUS Healthcare, and Next Move Healthcare. Each entity will continue to operate independently under its existing brand and leadership, ensuring continuity for clients and clinicians. These acquisitions position Care Career at nearly $100 million in annual revenue and enhance its ability to serve healthcare providers and professionals nationwide. (PR Newswire)
Empathy, a bereavement support platform for consumers, raised $72 million to expand its services and enhance its AI-driven platform. This investment will support Empathy's recent expansion into legacy planning with its LifeVault product, enabling users to create and securely store estate plans and essential documents. (Pulse 2.0)
🎉 Pyx Health, an engagement platform for vulnerable healthcare populations, acquired FarmboxRx, a provider of fresh produce as a health intervention, following a $47.5 million investment from S2G Investments. This strategic move aims to address food insecurity and enhance member engagement by integrating nutritional support into care pathways, fostering trust and improving health outcomes. (Pulse 2.0)
Ellipsis Health, an AI healthcare platform for care management, raised $45 million to expand the adoption of Sage, its emotionally intelligent AI care manager, across healthcare providers, payers, and care management organizations. Sage utilizes Ellipsis Health's proprietary Empathy Engine, built on patented vocal biomarker technology trained on millions of live clinical patient calls, to support patients with complex physical, behavioral, and social needs, aiming to expand staffing capacity and reduce operating costs through proactive patient engagement. (Fierce Healthcare)
TSOLife, an AI-powered resident insight platform for senior living operators, raised $43 million to enhance its data-driven and AI-powered operational tools aimed at improving resident engagement and community operations. (Axios)
Certify, a provider data intelligence platform for health plans and digital health companies, raised $40 million to enhance its AI-driven infrastructure for streamlining provider data management. (MedCity News)
Sword Health, an AI-driven digital health platform for musculoskeletal care, raised $40 million to expand its AI Care model into mental health with the launch of Mind, a solution combining AI and licensed clinicians to provide continuous, personalized mental health support. The funding, led by General Catalyst, will also support global expansion and further development of AI models across healthcare sectors. (Fierce Healthcare)
Arine, an AI-driven medication intelligence platform for health plans and risk-bearing providers, raised $30 million to expand its capabilities in specialty pharmacy management. (FinSMEs)
Local Infusion, a tech-enabled ambulatory infusion provider for patients with chronic conditions, raised $30 million to expand its footprint to 40 locations by year-end and develop an AI-native infusion platform to expedite patient scheduling. (Axios)
🎉 Medically Home, a hospital-at-home technology enablement platform for health systems and physician groups, merged with DispatchHealth, a provider of complex in-home medical care. This merger aims to expand access to hospital-level care at home, offering services from same-day visits to inpatient care, and is expected to improve patient outcomes while reducing healthcare costs. (HomeCare Magazine)
Jaan Health, an AI-based care management platform for healthcare providers, raised over $25 million, including $15 million in non-dilutive growth capital, to expand its AI-powered proactive care platform, Phamily, and extend its reach to millions more patients across the United States. (PR Newswire)
NPHub, a digital platform connecting nurse practitioner students with clinical rotations and job placements, raised $20 million to enhance its technology platform, develop enterprise solutions, and expand services for healthcare professionals throughout their career lifecycles. (Business Wire)
Mealogic, a B2B2C meal delivery platform for healthcare providers and wellness brands, raised $16 million to expand its turnkey, science-backed meal delivery solutions. The funding will help Mealogic enhance its white-label platform, which offers over 5,000 nutritionally profiled meals across more than 25 dietary protocols. (Athletech News)
Elfie, a digital health app that rewards users for managing their health, raised $12 million to expand operations and development efforts. (Axios)
myLaurel, a provider of home-based acute and transitional care, raised $12 million to expand its Acute Care at Home program and accelerate growth with new health system clients. (Pulse 2.0)
Guidehealth, an AI-driven healthcare technology and services platform for healthcare providers, raised $10 million to enhance its AI-powered platform for proactive chronic disease management and expand its tech-enabled healthcare services. (Metro Atlanta CEO)
🎉 CareLineLive, an all-in-one home care management platform for homecare agencies, secured a majority investment from Accel-KKR, a technology-focused private equity firm, to accelerate growth, expand internationally, and enhance product development. The investment will also facilitate an exit for early backers Oakglen and Haatch, and support the establishment of a customer support presence in Australia to provide round-the-clock service. (Pulse 2.0)
Tombot, a developer of robotic companion animals for individuals unable to care for live pets, raised $6.1 million to expand its team, finalize engineering, complete regulatory and safety certifications, and prepare its first robotic pet for customer shipments to its more than 16,000 pre-order and waitlist customers. (HomeCare Magazine)
VoiceCare AI, a healthcare administration general intelligence platform for healthcare providers, raised $4.54 million to automate back-office conversations and enhance operational efficiency through generative AI. (PR Newswire)
Salvo Health, a digital gastrointestinal care platform for healthcare providers, raised $4 million to scale deployments of its hybrid GI care platform across the U.S. (MobiHealthNews)
🎉 Emcara Health, a value-based medical group delivering home-based care to clinically complex and high-risk populations, was acquired by Lucet, a behavioral health company providing tech-enabled services to health plans, employers, and providers. The acquisition aims to integrate behavioral health navigation with in-home medical care, addressing co-morbid chronic and behavioral health conditions through comprehensive, in-home services. (Business Wire)
Clara Home Care, a technology platform for direct hiring of in-home senior caregivers, raised $3.1 million to expand its services nationwide, enhancing accessibility and affordability for families seeking senior care. (Pulse 2.0)
Seniorverse, a software platform for adult daycare providers, raised $2.1 million to develop its technology aimed at enhancing operational efficiency and reducing administrative burdens, thereby improving the quality and accessibility of senior care. (EIN Presswire)
🎉 MD Revolution, a chronic care management and remote patient monitoring platform for healthcare organizations, was acquired by CoachCare, a remote care platform for healthcare providers, for an undisclosed amount. This strategic acquisition aims to create the nation's leading remote care platform by combining their technologies and services to enhance patient outcomes and support providers in both fee-for-service and value-based care models. (EIN Presswire)
ClearEstate, a digital estate planning platform for consumers, secured an equity investment from Canada Life, a financial services provider for consumers, to enhance access to estate planning solutions for Canadians. This strategic agreement enables Canada Life and its subsidiaries to refer clients, plan members, and employees to ClearEstate's services, aiming to simplify estate planning and settlement processes through user-friendly digital tools and human guidance. (Newswire)
🎉 StaffDNA, a digital marketplace for healthcare careers, acquired the per diem staffing business of Kevala, an AI-powered healthcare staffing platform, to expand its candidate pool and integrate technologies for enhanced staffing services. (PR Newswire)
Carefull, a financial safety platform for aging adults, secured an unspecified amount of growth financing from CIBC Innovation Banking to expand its AI-driven solutions that detect financial fraud and exploitation, aiming to protect more families and enhance partnerships with financial institutions. (VentureBeat)
Electronic Caregiver, a provider of AI-driven virtual care solutions, raised an undisclosed amount of financing to support the nationwide expansion of its Addison Care platform and enhance ECG's deployment and innovation in virtual health technology. (Electronic Caregiver)
🎉 Limber Health, a digital health platform for hybrid musculoskeletal care, was acquired by Net Health, a provider of specialized software solutions for restorative care providers, to enhance hybrid care models and advance value-based outcomes. The acquisition aims to support clinicians and patients from 'hospital to home' by integrating Limber Health's remote therapeutic monitoring and home exercise platforms into Net Health's offerings. (PR Newswire)
🎉 Troupe Health, an AI-enabled care coordination platform for senior living communities, was acquired by Centered Care, a tech-enabled care delivery platform for senior housing operators, to enhance care delivery, operational efficiency, and resident retention. The integration of Troupe's clinical model into Centered Care's platform aims to provide more coordinated and accessible services to residents, benefiting both operators and owners. (PRWeb)
🎉 Travel Nurse Across America, a travel nurse staffing agency, merged with TotalMed, a healthcare staffing solutions provider, to enhance their combined service offerings and expand their reach across the United States. This strategic merger aims to provide a broader range of staffing solutions, including travel nursing, allied health staffing, and workforce management services, to better meet the evolving needs of healthcare facilities and professionals nationwide. (Staffing Industry Analysts)