CoachCare
Overview
CoachCare is a New York-based company specializing in remote patient monitoring (RPM) and virtual care management, offering comprehensive solutions that include software and connected devices to improve patient outcomes and healthcare provider revenues. Founded in 2013 by Wes Haydon, Andrew Zengilowski, and Eric Di Bari, CoachCare provides services primarily to individual practices, hospitals, and health systems. As of 2024, the company has raised a total of $48.2 million, with its most recent Series C funding round in July 2024 led by Integrity Growth Partners.
Recent Developments
- July 2024: CoachCare secured a $48 million investment led by Integrity Growth Partners to fuel expansion and enhance its platform capabilities. This strategic growth investment is part of Integrity Growth Partners Fund II, aimed at supporting high-growth, tech-enabled businesses.
- September 2024: The company was recognized on the Inc. 5000 list as one of America's fastest-growing private companies, ranking #1,169 due to its significant revenue growth of 438% from 2020 to 2023.
- January 2024: CoachCare acquired Verustat, a Nashville-based RPM company, adding to its growing platform and client roster, focusing on primary care and cardiology.
- 2023-2024: The company executed an aggressive acquisition strategy, adding companies like Alertive Healthcare and WebCareHealth, thereby enhancing its capabilities in cardiology, nephrology, and other chronic care specialties.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2013 |
| Headquarters | New York City, NY, USA |
| Founders | Wes Haydon, Andrew Zengilowski, Eric Di Bari |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Integrity Growth Partners, Topmark Partners |
| Industry | Remote Patient Monitoring, Virtual Health |
| Number of Employees | Approximately 50-200 |
Early History
Founded in 2013, CoachCare emerged from the careers of its founders in private equity, motivated by the need to innovate within healthcare technology to improve provider revenues and patient outcomes. Initially, the company focused on developing software solutions for remote health monitoring, anticipating the potential revenue opportunities from emerging RPM CPT codes. By 2015, CoachCare secured its first seed funding round and continued to expand its client base by partnering with healthcare providers to offer customized RPM platforms that integrated seamlessly into existing workflows.
Company Profile and Achievements
CoachCare operates a business model centered around RPM and virtual health solutions. Its service offerings include chronic care management, connected device integration, and behavioral health programs. Notable achievements include:
- Innovative Platform: Development of a comprehensive RPM platform that integrates with existing healthcare workflows and facilitates significant improvements in patient engagement and health outcomes.
- Awards and Recognitions: CoachCare has been recognized by industry peers and publications, being featured in the Inc. 5000 list and receiving accolades for its technological contributions to health management.
- Mergers and Acquisitions: Since its inception, CoachCare has expanded through strategic acquisitions, which have helped solidify its market position and broaden its technological and service offerings.
- Client and Patient Impact: Supporting over 150,000 patients across multiple healthcare settings and providing substantial ROI for participating healthcare providers.
Current Operations and Market Position
Currently, CoachCare is a leader in RPM and virtual care management, serving a diverse array of healthcare providers through customizable platforms. The company has consistently demonstrated a strong product-market fit, aided by its use of advanced analytics, AI integration, and a customer-centric approach to service delivery. CoachCare maintains a competitive edge by offering comprehensive, compliant RPM solutions that address diverse patient needs across different specialties.
Conclusion
CoachCare stands as a pivotal player in the remote patient monitoring arena, advancing healthcare capabilities with its innovative approach to virtual health management. Amidst a competitive landscape, the company is poised for continued growth, supported by strategic investments and an expanding suite of services. With a commitment to improving healthcare outcomes and generating significant provider revenue, CoachCare is likely to influence the future of healthcare delivery significantly.