PEORIA, Ill., April 26, 2021 /PRNewswire/ -- OSF Ventures joined a $43 million Series B investment in Current Health, provider of a remote care management platform that can empower health systems to monitor and manage patient care at home – thereby shortening patient hospital stays, reducing readmission rates and delivering better patient outcomes.
OSF Ventures, the corporate investment arm of OSF HealthCare, joins the round led by Northpond Ventures, with additional financing from LRV Health, Section 32, Elements Health Ventures and existing investors. The funding comes on the heels of Current Health 3,000%+ growth in year-over-year revenue, making them one of the fastest growing health care companies.
The company provides a single point of insight into patient health outside the hospital, ingesting data from hundreds of remote monitoring devices – along with patient-reported data and electronic medical record data – to identify and predict the onset and progression of disease. Current Health's physician-led virtual command center provides 24/7 care management capability and seamlessly integrates with a range of in-home healthcare services, such as blood tests, durable medical equipment (DME), and meal delivery – providing a single, integrated solution across the care continuum.
"We were impressed with Current Health's breadth of options for supporting patients at home," said Stan Lynall, vice president, Venture Investments at OSF HealthCare. "We know Current Health is going to fill a significant market demand as hospital systems make the transition to supporting more patients at home. The shift toward at-home care is increasingly important among rural communities needing to implement safe, secure and easy-to-use telehealth solutions as rural hospitals strive to provide expert care with limited resources."
In 2020, Current Health built on its ability to identify and predict the onset of disease by launching Community by Current Health, a research initiative aimed at building the largest longitudinal health at-home dataset. It also launched a partnership with the research arm of the U.S. Department of Health and Human Services to identify signs of early deterioration due to COVID-19 and predict disease severity to help inform clinical treatment.
"We are excited OSF HealthCare has given Current Health a vote of confidence as the technology partner to help health systems transform their care delivery models," said Chris McCann, CEO and co-founder, Current Health. "Investment by OSF Ventures is further validation that we've developed an end-to-end solution that meets the needs of care teams and their patients by providing the glue that enables safer health care at home."
Current Health continues to set itself apart in the virtual care space by including solutions such as options for medication and even meal delivery. Its goal is to help care providers treat patients preventively and at the earliest point, allowing them to live healthier and longer lives.
OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.
OSF HealthCare is an integrated health system owned and operated by The Sisters of the Third Order of St. Francis, headquartered in Peoria, Illinois. OSF HealthCare employs more than 21,500 Mission Partners (employees) in 135 locations, including hospitals – nine acute care, four critical access – and two colleges of nursing. Its physician network employs nearly 1,500 primary care, specialist physicians, and advanced care providers.
OSF Innovation, launched in 2016, is a multidisciplinary innovation center focused on internal and external innovation to solve the largest health care challenges. More at www.osfinnovation.org and www.osfhealthcare.org.
Current Health is the leading enterprise remote care management platform, focused on enabling early, preventive healthcare in order to improve patient health outcomes and reduce the cost of care. The company provides a single point of insight into patient health at home, ingesting data from hundreds of remote monitoring devices – along with patient-reported data and electronic medical record data – to identify and predict the onset and progression of disease. Current Health's physician-led virtual command center provides 24/7 care management capability and seamlessly integrates with a range of in-home healthcare services to provide a single, integrated solution across the care continuum. Current Health empowers health systems and pharmaceutical companies to tailor healthcare at home to all patient populations. For more information, visit https://www.currenthealth.com and follow us on Twitter and LinkedIn.
CONTACT: Colleen Reynolds | Media Relations Coordinator, OSF HealthCare | (309) 825-7255
SOURCE OSF Ventures