Vesta Healthcare, a real-time clinical support technology that provides caregivers with better access and timely feedback on clinical and environmental issues, closed a $30 million Series A funding round. At the same time, the company also announced the renaming, from HT Health to Vesta Healthcare.
The financing round was co-led by Oak HC/FT and Deerfield Management Company with investment from existing investors, Kaiser Permanente Ventures, Lux Capital, and new investors CareCentrix, Generator Ventures, Nationwide Ventures, and Epstein Partners.
As part of the investment, Bharath Ganesan, Principal at Deerfield, join the Vesta Healthcare’s Board of Directors. At the same time, Julian Harris, M.D., a partner at Deerfield, and Russell Hirsch, Managing Director at Generator Ventures, were added as Board Observers.
“We believe strongly that caregivers are currently under-supported and disconnected from the healthcare system, but have an outsized ability to impact the daily health of those who they support,” said Annie Lamont, Managing Partner at Oak HC/FT, in a company press release. “By actively engaging caregivers, be they professional, informal or family members, Vesta Healthcare is helping people age safely at home, providing peace of mind that someone is there to answer questions and give guidance at moments of need. We need more solutions like this in our healthcare system.”
The company will use the latest capital for product development, engineering, sales, and marketing, and to expand into new markets.
“Caregivers are in the home supporting patients with high needs every day. They are on the front lines and the first to notice changes in the health of their loved ones or care recipients, but too often, their insights are not connected back to the care team to take timely action that could prevent unnecessary ED visits, hospitalizations, and readmissions,” said Randy Klein, Chief Executive Officer at Vesta Healthcare, in a company press release. “We are delighted to have such an experienced, passionate and dedicated group of investors who see the potential for Vesta to make a meaningful impact on people’s daily health by creating engaging and supportive tools for caregivers.”
Clinical Decision Support companies brought in $748 million in 2019 compared to $714 million, a 5% rise Year-over-Year. Since 2010, $3 billion has been drawn in by Clinical Decision Support companies, according to Mercom – Q4 and Annual 2019 Digital Health (Healthcare IT) Funding and M&A Report.