Medically Home Group, a services company that supplies remote care technology for at-home acute care, has added a $10 million strategic investment from Cardinal Health and other unnamed backers of its ongoing Series B funding round.
WHAT THEY DO
The company pitches its “Virtual Hospital” service as an alternative to lengthy and expensive hospital stays. It deploys monitoring and communication tools in the patient’s home, and supports them with its network of rapid-response clinical and non-clinical services that can deliver medications, equipment and other supplies on demand.
Medically Home’s service currently provides for patients with certain medium- or high-acuity conditions — such has heart failure, pneumonia or pulmonary embolism — or for those in need of post-surgical care after hip and knee replacement surgery.
WHAT IT’S FOR
According to the funding announcement, Medically Home will use the funding to scale its at-home care model for more providers and other customers.
"“The capital is a validating milestone for Medically Home that will fund the growth and deployment of our model and importantly the evolution of both the software and the services platform so we can scale rapidly," Richard Rakowski, CEO of Medically Home Group, told MobiHealthNews in an email statement. "I believe there has been a recognition in the marketplace that hospitalization at home needs to be fully integrated and as pioneers in this space with a fully operational model we believe the potential is significant.”
WHAT’S THE TREND
Interest in “hospital at home” technologies is steadily growing among providers and patients alike as more and more remote monitoring products that allow patients to recover more comfortably. As such, Medically Home’s full service approach has some competition, among which is Current Health’s recently FDA-cleared remote monitoring platform. Bardy Diagnostics just raised $35.5 million for its remote monitoring patches as well, while Spry Health’s COPD wearable received its own FDA clearance in early April.