FORT LAUDERDALE, Fla., March 13, 2017 /PRNewswire/ -- Las Olas Venture Capital (LOVC) (www.lasolasvc.com) announces an investment in CarePredict (www.carepredict.com), a connected health care company developing a service platform that combines machine learning and predictive analytics with a wearable device to predict health declines based on changes in behavior and activity patterns.
"CarePredict solves critical problems related to improving quality and managing ballooning costs associated with senior care," said Dean Hatton, one of LOVC's Founding Partners. "In 2050, the population aged 65 and older is projected to be over 83 million, almost double its population of 43 million in 2012. The senior care market is enormous and technologically underserved. We are thrilled to be backing Satish Movva, CarePredict Founder and CEO, in this important endeavor," said Hatton.
Following several successful pilots, the CarePredict team has signed and begun implementations of the CarePredict system with its first multi-site, multi-state senior living customer. Users have remarked that the CarePredict technology is "possibly the greatest thing to ever happen to senior housing."
"I founded CarePredict based on the personal need to identify and intervene before minor health issues with my aging parents quickly escalated into serious, costly hospitalizations," said Satish Movva, founder and CEO of CarePredict. "From the beginning the LOVC team has believed in our mission of increasing the quality of life for seniors and providing peace of mind to their loved ones. Our company is humbled by the support they have provided us as we continue to grow, and look forward to the transforming the senior health care management industry together."
About Las Olas Venture Capital
Las Olas VC is a Florida-based early stage venture capital manager that invests in startups in a variety of industries. Las Olas VC's mission is to find outstanding entrepreneurs in non-obvious places and maximize their impact by connecting them to networks of capital, talent, and customers in well-established startup ecosystems. Dean Hatton, Esteban Reyes, Paul Tanner and Mark Volchek are the Founding Partners of Las Olas VC.
For more information visit www.lasolasvc.com
CarePredict believes insight into changes in the daily activity patterns of seniors is key to improving the quality of life for seniors, providing peace of mind to loved ones and increasing productivity of caregivers. Founded in 2013 and headquartered in Fort Lauderdale, the technology company is pioneering proactive health risk detection of seniors. CarePredict's proprietary wearable solution, Tempo™, provides predictive insights for early detection and intervention of health conditions before it's too late. Its technology is used in assisted living, memory care, home care and independent living communities throughout the United States. For more information, visit http://carepredict.com.
Note: This is not an offer to sell or a solicitation of an offer to purchase any securities. Please contact Manager for additional information.
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SOURCE Las Olas Venture Capital