CareXM Acquires Telehealth Company TouchPointCare

CareXM, a provider of virtual care and patient engagement solutions for post-acute and non-acute healthcare providers, acquired TouchPointCare, a provider of patient-centric telehealth engagement solutions.

TouchPointCare provides a telehealth system for healthcare providers, hospitals, senior living providers, physicians, home health care provides, and health plans. The telehealth services are offered through video chat, text, voice calls, customized IVR phone calls, and email. The company also provides on-going disease management, patient education, remote monitoring, and medication services.

Terms of the acquisition were not disclosed.

“TouchPointCare extends CareXM’s current nursing-led triage service with hundreds of disease management care plans which can be personalized for the care organization and patient,” said CareXM CEO Tim Smokoff. “Clinicians will be automatically alerted when medical interventions are necessary through customizable branching logic, embedded analytics, and dashboards. Providers will be able to streamline operations and improve financial results with new insights from the collected patient data.”

“We are excited to become part of CareXM’s portfolio of service offerings. These combined offerings complement each other to promote better health outcomes,” said TouchPointCare CEO David Anderson, Ph.D., FACHE.

“Our mission has been to harness the power of communication technology to help healthcare providers better manage the health and wellness for their patients between visits. The addition of the remote patient monitoring platform further positions CareXM as a bold leader in home care.”

A total of 184 digital health companies were acquired in 2020, compared to 169 in 2019, a 9% increase in M&A activity in year-over-year, according to Mercom’s Q4 and 2020 Digital Health Funding and M&A Report.

In one of the largest digital health M&A transactions ever, Telehealth provider Teladoc Health has agreed to acquire Livongo Health, a developer of cellular-connected blood glucose meter and app for diabetes management, for t $18.5 billion.

Livongo Health was backed by over $230 million in VC funding. Investors include General Catalyst, Kinnevik, Kleiner Perkins Caufield & Byers, Microsoft Ventures, and Echo Health Ventures.