Startup for home cancer treatment Reimagine Care raised $25 million in a Series A funding round led by Santé Ventures, Martin Ventures and LRVHealth.
Other participating investors include the CU Healthcare Innovation Fund, City of Hope, McKesson Ventures and Sable Investments.
WHAT IT DOES
The company works with providers and healthcare plans to coordinate home care and avoid unnecessary inpatient visits.
Imagine clinicians being able to remotely monitor patients, work with oncologists to determine if patients need additional services, and dispatch home caregivers to provide support when needed.
WHAT IT IS FOR
Reimagine plans to use the funds to improve and commercialize its platform, open a virtual care center and hire new members for its care team.
“We are honored to partner with these seasoned financial and strategic investors who share our belief that now is the time to transform the cancer care status quo that has failed to adapt to a virtual, digital world, and moving towards providing a better experience to millions of patients who struggle with this devastating disease each year,” said co-founder and CEO Dr. Aaron Gerber in a statement.
“We are committed to accelerating the commercialization of our technology-enabled service platform to help healthcare systems deliver high-quality, home-centric care, increase profitability and improve patient experiences, while differentiating ourselves from competitors who are not doing this more importantly Leap forward.”
MARKET SNAPSHOT
The COVID-19 pandemic has accelerated the use of telemedicine and home care with a The HHS report finds that Medicare visits conducted via telemedicine have increased sixty-three-fold during the pandemic, from about 840,000 in 2019 to 52.7 million in 2020.
Companies hope to bring higher-level care into the home. Last year the Israeli company Biobeat has launched a take-home version of its remote patient monitoring platform that includes a continuous vital monitor, patient app and cloud-based patient management system.
In 2020, Swedish oncology treatment technology company Elekta announced this Purchase Kaiku Health, which allows patients to track their symptoms and notify their care team with updates. The Kaiku service launched in the US late last year.
Remote monitoring and analysis company Biofourmis also entered the cancer space in 2020 with its Purchase of Takeda Pharmaceuticals’ Gaido Health, a digital tool that uses remote monitoring, patient surveys and analytics to monitor patients at home.
