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CoachCare acquires WebCareHealth
News provided byEIN Presswire
Sep 05, 2023, 11:08 AM ET
Acquisition supports remote patient monitoring company’s continued growth and expansion into new specialties
NEW YORK, NEW YORK, UNITED STATES, September 5, 2023/EINPresswire.com/ -- CoachCare, a leading remote patient monitoring (RPM) and virtual health company, has acquired Des Moines, Iowa, based RPM company WebCareHealth, for an undisclosed amount. The acquisition represents CoachCare’s third acquisition in eight months.
Founded in 2013, WebCareHealth’s expertise will add unique at-home international normalized ratio (INR) blood testing and monitoring capabilities to CoachCare’s suite of RPM, chronic care management and other services.
One of the fastest growing digital health offerings, by 2027, worldwide RPM growth could rise from $53.6B to $175.2B - with factors like the growing older adult population and the monitoring of specialized medicine to patients in between physician office visits.
“Healthcare providers increasingly look for patient monitoring solutions that provide care options for all types of patients. CoachCare continues to add capabilities that benefit more patients being treated for a variety of conditions. WebCareHealth has demonstrated a unique specialty in cardiology and pain management,” said Wes Haydon, co-founder and president of CoachCare. “Its impressive team, led by Dr. Teresa Sieck, and client roster accelerates CoachCare’s expansion into these critical specialties. This transaction supports our objective to rapidly grow revenue both organically and with strategic acquisitions of exceptional businesses such as WebCareHealth. We are pleased to welcome Dr. Sieck and her team.”
“Joining forces with CoachCare brings great excitement. Together, we strengthen our position as a market leader, expand service offerings in the remote monitoring and virtual care space and continue to successfully make a difference in the lives we serve,” said Dr. Sieck.
“We are pleased to see the sale of our portfolio company, WebCareHealth, to CoachCare. Next Level has been an investor in WebCareHealth since 2015 and we are proud of the work Dr. Teresa Sieck and her team have done to build the company into a leader in its market,” said Craig Ibsen, managing partner of Next Level Ventures.
CoachCare, a New York-based remote patient monitoring and virtual health company, moves healthcare providers beyond technology to a complete RPM solution addressing many healthcare specialties. Its comprehensive suite of virtual tools, including remote patient monitoring, video conferencing, real-time messaging, screening, content sharing and connected devices, is the closest patients can get to an in-person visit, all from the safety and comfort of their homes. More than 150,000 patients in 3,000 locations benefit from CoachCare’s solution.
About Next Level Ventures
Next Level Ventures, a venture capital firm based in Des Moines, IA, was founded in 2013 and invests in technology companies in a variety of industries, including fintech, healthcare, agriculture, and manufacturing. The firm manages over $300 million in assets across three funds to date.
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