Current Health closes oversubscribed $43m Series B financing round

Current Health
Image from Current Health’s website

Remote care management platform Current Health has raised $43 million in Series B financing in a round led by Northpond Ventures, with additional financing from LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures, and existing investors.

Andrea Jackson, director at Northpond Ventures, and Tripp Peake, general partner at LRVHealth, will join Current Health’s board.

Boston, Massachusetts-based Current Health’s platform is used by many of the world’s health systems including the NHS, Mount Sinai Health System, Geisinger Health, to monitor and manage patient care at home. It is also used by pharmaceutical companies, such as AstraZeneca, to move delivery of complex therapy into the home and support home-based drug trials. The company stated it has grown its revenue by more than 3,000% year-on-year.

The company provides a single point of insight into patient health outside the hospital, ingesting data from hundreds of remote monitoring devices – along with patient-reported data and electronic medical record data – to identify and predict the onset and progression of disease. Current Health’s physician-led virtual command centre provides 24/7 care management capability and integrates with a range of in-home healthcare services, such as blood tests, durable medical equipment, and meal delivery.

Jackson said: “It’s rare to see a company successfully execute across both healthcare delivery and drug delivery – this is what makes Current Health so special. As healthcare moves into the home, pharmaceutical companies are developing new models that go beyond the pill and enable greater delivery at home with fewer side effects at lower cost. Current Health’s proven track record of delivering across both pharma and health systems makes them the perfect company to bridge this gap.”

Chris McCann, co-founder and chief executive of Current Health, added: “In the next five years, we’ll see a majority of healthcare services delivered in a patient’s home, with the hospital reserved for intensive care, trauma, and surgery. To make this shift, healthcare providers must move away from point solutions and develop system-wide strategies to deliver care at home. We’ve built Current Health to serve as the mission control for organisations to transition healthcare from the hospital to the home and meet patients where they are. Our Series B financing, from the top investors in both healthcare and pharma, will enable us to rapidly grow on a global scale and meet the demand for an integrated, enterprise approach.”

Date published: April 26, 2021

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