Cureatr raises $13M to expand national network of Care Transition Notifications™
to meet demand for real-time patient information
Deerfield Investments led the Series B financing, with participation from
previous and strategic investors
New York, NY (June 25, 2015) – Cureatr, Inc. today announced it has closed on $13 million in Series B financing in a round led by Deerfield, a New York-based investment management firm committed to advancing healthcare through investment, information and philanthropy. Deerfield is joined by Cerner Capital, Inc., Windham Ventures, a strategic health IT investor, and previous investors Cardinal Partners, Milestone Venture Partners, Partnership Fund for New York City, and JMI Services, LLC. The funds will be used to launch new regions for Cureatr’s Care Transition Notification™ (CTN) networks and to continue building partnerships and expanding its market opening and technology teams.
“Cureatr’s mission is to let providers and care-givers know in real-time when their patients are getting care, and to put tools in their hands to respond to critical care-transitions. We launched the first Care Transition Notification™ network in New York with early hospital partners and are now expanding our network nationally with organizations such as DaVita HealthCare Partners. We are pleased to receive support from and share this vision with Deerfield and our other investors,” said Joseph Mayer, MD, Cureatr’s chief executive officer and co-founder. “In order to accomplish this expansion, we are working to launch networks in key new markets this year with regional and technology partners to support our users’ population management needs. We’re using our mobile care coordination platform to fit into the workflow to each of our users, which traditionally has not been possible with in-network EMRs, and has been mostly unexplored by other population health technologies.”
Care Transition Notifications™ (CTNs) notify providers, in real-time on mobile or desktop, about patient transition events to and from acute and post-acute facilities. CTNs and Cureatr’s enterprise mobile platform connect disparate organizations across settings to coordinate care. When a patient is admitted, discharged, or transferred from a facility, Cureatr sends a real-time push notification to the patient’s care-team. Users then have the option to run standardized best-practice workflows, call, or send a secure message to the facility taking care of their patient.
CTNs help reduce avoidable hospitalizations, readmissions, and impact length of stay and post-discharge follow-up by enabling the patient’s longitudinal care-team to get involved immediately in these critical events.
“The demand for innovative care coordination tools in the healthcare industry has never been greater. We are excited by the unique value proposition that Cureatr’s Care Transition Notification network offers to providers and other at-risk enterprises, as evidenced by the traction they have achieved in the market place,” said Alex Kristofcak, a principal at Deerfield.
Cureatr serves healthcare organizations nationally and the company’s growth is evidenced by recent customer announcements. In March, Cureatr announced an enterprise-wide secure messaging and CTN agreement with DaVita HealthCare Partners. Last month, the Visiting Nurse Services of New York (VNSNY) announced Cureatr’s mobile care coordination tools were deployed throughout its entire workforce of mobile nurses working in New York’s five boroughs.
“DaVita HealthCare Partners is committed to innovation and continuously improving care for our patients,” said Mark Kaplan, M.D., vice president of medical affairs for DaVita Kidney Care. “Cureatr has demonstrated the same vision in innovation for the coordination of care and DaVita counts on their technology to provide excellence in patient care and improve clinical outcomes and cost-savings.”
Dr. Mayer launched Cureatr in 2011 while at The Mount Sinai Medical Center with his co-founder, Alex Khomenko, the former Director of Engineering at 23andMe and an early engineer at Paypal.
About Cureatr, Inc.
Cureatr is the nation’s leading mobile care coordination solution. Cureatr’s vision is to connect everyone for better healthcare. Founded by physicians in New York City, Cureatr helps accountable care organizations, hospitals and health systems, specialty care providers, and physician group practices improve care coordination through its mobile-first solution. By leveraging real-time Care Transition Notifications™ with secure messaging and clinical workflow tools, providers deliver healthcare that goes uninterrupted.
About Deerfield Management Company
Deerfield is a healthcare investment firm, committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit http://www.deerfield.com.
About Windham Venture Partners
Founded in 2006, Windham Venture Partners is a New York City based venture capital firm focused on healthcare technology, with a particular emphasis on medical technology (devices and diagnostics) and digital health (the intersection of healthcare and information technology). Windham seeks to invest in and partner with companies that are commercializing game-changing technologies to serve unmet needs in order to improve the lives of large numbers of patients and yield robust returns for its investors.