Equum Medical, a provider of acute care telehealth and teleICU solutions, raised $20 million in growth equity from Heritage Group.
The company plans to use the latest funds to further enhance its service model and broaden the reach of its experienced team of clinicians across the United States and beyond.
Equum Medical provides board-certified critical care physicians delivering acute care telehealth to address the challenges hospitals and health systems face when filling gaps in coverage. According to the company, its solution helps fill ICU intensivist coverage gaps, eases emergency department capacity constraints, enhances transfer center dynamics, reduces leakage by adding physician engagement to the process, and improves the lifestyle of on-site clinicians.
“The COVID-19 pandemic has placed an even greater strain on physicians, who already were suffering from burnout, as well as hospitals that are contending with shortages of intensivists. Equum Medical’s physician-led and partnership-driven approach is exactly what is needed to address physician imbalances across the healthcare system,” said Lauren Brueggen, partner at Heritage Group.
Lauren Brueggen added: “At Heritage, we have been fortunate to invest behind several notable telehealth companies, including MDLive, Vivify Health, AvaSure, and now Equum Medical. We believe that Dr. Corey Scurlock and Dr. Brian Rosenfeld are two of the most renowned pioneers in the teleICU industry, and we are thrilled to partner with them to build a dominant acute care telehealth company.”
“With a clear understanding of the acute care telehealth market and a growing multispecialty physician group, Equum Medical offers health systems and hospitals a single source for managing this rapidly growing field,” said Equum Medical CEO Corey Scurlock, M.D. “As a physician-run company, we are able to understand and meet our clinicians’ needs. Combined with our approach of customizing offerings to meet the specific needs of our hospital system clients, Equum Medical is well positioned to become the preeminent player in the acute telehealth market.”
Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.