Viemed Invests $2M in ModoHealth

Jan 30, 2023 1 min read
Viemed Invests $2M in ModoHealth

Originally published by Healthcare IT Today on January 27, 2023

Viemed Healthcare, Inc., a respiratory care and technology-enabled home medical equipment services company, announced that it has made a strategic investment in ModoHealth, a value-based care and patient management platform connecting payors, patients, and post-acute providers. ModoHealth expects to use the proceeds of the investment to fund the expansion of its proprietary patient management network, which combines clinical tools, remote patient monitoring, data analysis and patient-centric engagement.

“We are incredibly excited to partner with the team at ModoHealth to grow the innovative population health platform,” said Casey Hoyt, CEO at Viemed. “Data-driven care coordination solutions available in the home are critical to the evolution of value-based healthcare delivery models. In addition to supporting ModoHealth patients as a technology enabled post-acute provider on its platform, we look forward to expanding Viemed’s collaboration with ModoHealth as a strategic investor.”

ModoHealth’s technology enables partners across the care continuum to collaborate through a secure platform in order to treat numerous disease states, supporting joint care coordination, evidence-based planning, tracking of patient engagement, and reporting of outcomes. Payors seeking to develop, implement, and manage value-based arrangements are able to utilize the platform to measure and improve costs by reducing hospitalizations and overall utilization. Providers benefit from the platform’s connectivity and data integration, improving the efficiency of workflows and facilitating effective care planning and delivery. Patients are able to utilize connected devices to access daily well-being check-ins, medication tracking and alerts, learning lessons and activities, and telehealth, ultimately strengthening the relationship with the care team and improving outcomes. Viemed expects to leverage its connected health care expertise to treat patients in the ModoHealth network suffering from COPD, sleep apnea, and other respiratory conditions.

In exchange for its $2 million cash investment, Viemed received an 18-month secured convertible promissory note and Viemed will participate in the ModoHealth provider network, utilizing the ModoHealth software platform to improve patient outcomes through enhanced patient engagement.

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