Current Health (formerly snap40), the developer of an AI-enabled wearable device that helps health professionals monitor patients in the hospital and at home, raised $43 million in a Series B financing round.
Northpond Ventures led the funding round with additional financing from LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures, and existing investors.
As part of the funding, Andrea Jackson, Director at Northpond Ventures, and Tripp Peake, General Partner at LRVHealth, will join Current Health’s Board of Directors.
According to the company statement, the latest funding will support its global expansion. “Our Series B financing, from the top investors in both healthcare and pharma, will enable us to rapidly grow on a global scale and meet the demand for an integrated, enterprise approach,” said Chris McCann, CEO, and Co-Founder of Current Health.
Chris McCann said: “In the next five years, we’ll see a majority of healthcare services delivered in a patient’s home, with the hospital reserved for intensive care, trauma, and surgery. To make this shift, healthcare providers must move away from point solutions and develop system-wide strategies to deliver care at home. We’ve built Current Health to serve as the ‘mission control’ for organizations to transition healthcare from the hospital to the home and meet patients where they are.”
According to Current Health, its AI-enabled wearable device system 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 the disease.
The company’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, and meal delivery – providing a single, integrated solution across the care continuum.
Healthcare Wearable Device companies raised $355 million in Q1 2021, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report.