CoachCare - a leader in remote patient monitoring (RPM) and virtual care management - announced an $11 million investment from growth equity firm Catalyst Investors. This latest funding round follows a $48 million funding in June led by Integrity Growth Partners and Topmark Partners, bringing CoachCare's total equity funding for 2024 to $59 million. And the company has secured a credit facility with Everberg Capital, providing up to $52 million in debt financing.
With these initiatives, CoachCare has raised over $110 million in debt and equity capital this year to support its dual-pronged growth strategy and to provide liquidity to its existing equity holders.
Kapil Desai has joined CoachCare's Board of Directors in connection with the Catalyst Investors transaction. And CoachCare welcomes Elias Davis to its Board of Directors, who recently joined Palantir within the office of the CEO. Elias previously worked as a Partner at MS&AD Ventures and Kli Capital.
CoachCare's recent funding marks a significant milestone in the company's growth journey, enabling both organic expansion and continued M&A, such as its recent acquisitions of Dedica Health and Revolution Health Solutions.
KEY QUOTES:
"The capital raised this year allows us to scale our platform, accelerate innovation, and broaden our reach to healthcare providers and patients. By strategically deploying these resources via M&A and organic growth initiatives, we can continue to improve patient outcomes, streamline provider operations, and reduce the overall cost of care within the healthcare system."
"Chronic health conditions affect a majority of American adults and represent the bulk of healthcare-related spend in the United States. CoachCare offers a differentiated combination of technology and best-in-class service, aligning incentives across providers, payer, and patients to drive effective preventative care and improved health outcomes."