HealthTech patient engagement platform announces second offering in a month

Health Recovery SolutionHealth Recovery Solutions launched a new $500,000 equity financing round. Thus far $200,000 was placed on January 19th with two investors. The company disclosed having initiated another offering on January 7th, it is unclear if the placement was sold in full prior the launch of this offering. Three previous financing rounds raised an estimated $1.6 million bringing the total estimated amount raised to $1.8 million.

The company develops and markets a solution to lower hospitals’ readmission rates by providing hospitals and accountable care organizations (ACO) an early warning system to manage their highest risk patients. Under Medicare laws, hospitals with high readmission rates can incur multi-million dollar penalties. ACOs are networks of doctors and hospitals that shares responsibility for providing coordinated care to patients in hopes of limiting unnecessary spending. High risk patients receive after their admission a 4G tablet, loaded with individualized instructions and videos to follow while they are in the hospital and when they return home. Once at home, patients track their progress towards key milestones, such as taking medication as prescribed, weighing themselves, and staying appropriately active. The tablet aggregates, streamlines, and digitalizes essential patient real-time data and delivers it to hospitals and caregivers. The data can be analyzed via a web monitoring portal as well as smartphone applications.

The New York, NY based company is lead by Jarrett Bauer (President, CEO and co-founder). Revenues were not disclosed. The executive team includes Rohan Udeshi (COO and co-founder) and Daniel Priece (CTO).

Offering recap
Status: First close
Company: Health Recovery Solutions
Industry: Other Technology
Amount offered: $500,000
Amount placed: $200,000
First sale: 01/19/14


One comment

  1. Pingback: Medication dispenser, PharmRight, raised $400,000 in equity at first close | Random Research

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s