Health Recovery Solutions, a Hoboken, NJ-based provider of remote patient monitoring solutions, raised $10m in growth funding.
The round was led by Edison Partners. In conjunction with the funding, Gregg Michaelson, Partner at Edison Partners, will join the HRS board of directors.
The company intends to use the funds to accelerate go-to-market capabilities and expand its technology platform within the $12 billion telemedicine market.
Led by CEO and cofounder Jarrett Bauer, Health Recovery Solutions provides health systems with a remote monitoring platform and technology-enabled management services focused on changing patient behavior to reduce readmissions and improve clinical outcomes. The platform connects post-acute patients with clinicians and family caregivers, allowing for daily performance tracking, video visits, dietary guidance, and a host of other engagement and communication tools.
Clinicians utilize the platform to track vital statistics, manage patient recovery, and intervene directly or through a family caregiver when necessary. The software is customizable with more than 40 treatment plans for conditions such as: diabetes, COPD, congestive heart failure, and chronic kidney disease.
Disease-specific engagement kits are customized with educational video, care plans, medication reminders while integrated with Bluetooth peripherals to engage clients.
The company has more than 140 customers across the healthcare provider network including names such as Banner Health System, Penn Medicine at Home, Well Care Health, Northwell Health, and Medstar Health.