Current Health secure $43M for its remote care platform
Edinburgh-based company Current Health close a $43M funding round in bid to grow their remote care platform
Current Health, a startup founded in 2015, close a whopping $43M in an oversubscribed series B funding led by Northpond Ventures for its remote care platform. The company shared that the funds will go towards growing their remote care management platform.
With the addition of the new funds, Current Health has raised a total of $66 million at time of writing.
Current Health provides a wearable device and wireless vital signs monitoring to track a patient’s key vitals, alerting providers when early signs of illness or deterioration is detected in bid to provide timely care. Their offerings can be found in more than 40 of the world’s top hospital systems and pharma companies, McCann adding that “About half our work today is with pharma”. The company manages more than 11,000 patients daily.
Furthermore, Current Health has received three FDA clearances of its device, greenlighting its use for inpatient and home use as well as projecting the device onto a platform by merging with measuring tools like blood pressure monitors and scales.
Chris McCann, Current Health’s co-founder and CEO, told BioWorld:
Delivery of health care at home was already a key priority for health care organizations in the U.S. before COVID-19. We see that in the creation of reimbursement models and alternative payment models that incentivized more high-quality health care at home that predate COVID,”
COVID has accelerated this shift by several years, also increasing consumer demand for virtual health services. Many consumers have realized through COVID that virtual health services are fast and efficient, and they want those services to continue.
McCann also shared the company’s ambitious growth plan:
In 2022, we expect to more than double our headcount again, taking us to 400 people and expanding internationally around the world,
As health care moves into the home, pharmaceutical companies are developing new models that go beyond the pill and enable greater delivery at home with fewer side effects at lower cost,” said Northpond’s Jackson. “Current Health’s proven track record of delivering across both pharma and health systems makes them the perfect company to bridge this gap.
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