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RightCare Solutions Raises $5M in Series B

2013-11-14
HORSHAM, PA, Industry leading medical technology company specializing in helping healthcare providers optimize their continuum of care, today has secured $5.0 million in Series B funding.
RightCare Solutions, Inc., an industry leading medical technology company specializing in helping healthcare providers optimize their continuum of care, today has secured $5.0 million in Series B funding led by existing investors Domain Associates, LLC and Compass Partners, LLC. RightCare will allocate proceeds from the offering to sales, marketing, and operations. Since its Series A round of funding last year, the company has completed a number of successful implementations with leading academic health systems demonstrating meaningful clinical improvements and financial ROI.

'We continue to grow our team, as well as our national presence,' said Eric Heil, RightCare Solutions co-founder, President & CEO. 'With our proven outcomes demonstrating the positive impact of the RightCare software and a growing number of hospital partners across the country, we anticipate growth in sales and earnings over the next 12 months.'

'The RightCare software is increasingly being recognized as a leading technology that helps providers predict and identify high-risk patients at admission, improving both the continuum of care and outcomes for customers and patients,' said Dennis Podlesak, Partner at Domain Associates, LLC. 'The RightCare team has shown tremendous innovation in the rapidly-evolving world of care transitions.'

'We continue to recognize the opportunity and vision for RightCare Solutions to become the medical technology provider of choice for healthcare providers seeking to reduce care transition costs and improve outcomes. With their strong momentum and unique platform, we are excited to provide this new financing to support the company's growth,' said Richard Perlman, Managing Director, Compass Partners LLC.

About RightCare Solutions, Inc.

RightCare Solutions is a pioneering Philadelphia, PA-based medical technology company that provides the most academic, innovative and predictive software for risk stratifying any patient at admission. The company's proprietary technology, Discharge Decision Support System (D2S2), which was developed through a decade of research conducted at the University of Pennsylvania School of Nursing, utilizes evidence-based technology to optimize care transitions. It is the only medical software focused on healthcare transitions using a unique algorithm that enables continuous point-of-care decision support, optimizes workflow, and dramatically improves post-acute care transitions.

For more information, please visit www.RightCareSolutions.com or follow-us on Twitter at @TeamRightCare to find out more.

About Compass Partners

Compass Partners, L.L.C., founded in 1995 by Richard Perlman is a merchant banking and investment advisory firm. The firm has a diverse group of investments, but since its inception, has had a dominant focus on healthcare and healthcare information services. Compass is located in New York City.

About Domain Associates

Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on life sciences. Domain is headquartered in Princeton, NJ with a second office in San Diego, CA. Domain has investments in approximately 80 emerging growth companies.
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