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CareSignal Raises New Financing

2020-02-18
ST. LOUIS, MO, CareSignal (previously Epharmix) today announced investments from four strategically aligned healthcare technology venture capital funds.
Building on its recent brand update and customer expansions, CareSignal (previously Epharmix) today announced investments from four strategically aligned healthcare technology venture capital funds. CareSignal is an accessible remote patient monitoring platform that improves payer and provider performance in value-based care by engaging and identifying rising-risk patients.

Two of the investors, OSF Ventures (Peoria, Ill.) and UnityPoint Health Ventures (Des Moines, Iowa), are customer-partners that use CareSignal remote patient monitoring and engagement solutions; OSF Ventures is expanding on a previous investment in CareSignal. Nueterra Capital (Leawood, Kan.) and 1984 Ventures (San Francisco, Calif.) provide a combination of deep technology experience, ties to national healthcare ecosystems and healthcare operations expertise.

"OSF Ventures is pleased to continue its financial support of CareSignal," said Mayank Taneja, director of venture investments at OSF Ventures. "As a pioneer in adoption of patient-centric innovative solutions, OSF HealthCare is proud to be a growing customer and partner of the company. Their technology enhances our ability to communicate with our patients and react to their needs. Improved patient outcomes along with a compelling value proposition make this a solution of choice for us."

"Nueterra Capital is a venture firm with deep experience in healthcare administration, value-oriented health innovations and digital health startups, and we pride ourselves on identifying trends and pain points within the nation's most innovative payers and providers," said Clint Myers, vice president of Nueterra Capital. "Nueterra chose to invest in CareSignal because of the company's traction with evidence-based solutions adopted by systems across the nation; technology, including defensible intellectual property and an aggressive focus on machine learning; and timing, as the industry shifts to true value-based care."

"At 1984 Ventures, we focus on companies using software to solve real-world problems at scale. And we couldn't be more excited about our investment in CareSignal," said Ramy Adeeb, general partner at 1984 Ventures. Farzad Soleimani, MD, MBA, healthcare partner at 1984 Ventures, added: "By using technology to prioritize and engage with rising-risk patients in real-time, CareSignal is able to improve outcomes and reduce cost in some of healthcare's most challenging and expensive areas, including heart failure, hypertension and diabetes."

"These investors represent the best-possible capital partners for CareSignal," said Blake Marggraff, CEO and co-founder of CareSignal. "We're actively deploying the additional funding toward sales and marketing as we expand nationally to new payer and large provider partners. The expertise, connections and capital from OSF, UnityPoint, Nueterra and 1984 are enabling CareSignal to grow even faster and impact the healthcare stakeholders-customers and patients alike-that have the most to gain."

UnityPoint Health Ventures announced the investment in CareSignal via a press release, available here.

ABOUT CARESIGNAL: CareSignal is an accessible remote patient monitoring platform that improves payer and provider performance in value-based care by engaging and identifying rising-risk patients. Care teams receive real-time alerts enabling real-time prioritization and outreach, and patients respond to evidence-based questions via text messages or phone calls. CareSignal amplifies care teams, improving clinical outcomes and delivering financial returns.
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