Boston and Edinburgh-based Current Health, a “remote care management platform” formerly called snap40, announced it has raised $43 million in an oversubscribed Series B financing.
“The round was led by Northpond Ventures, with additional financing from LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures, and existing investors,” said Current Health.
“Andrea Jackson, Director at Northpond Ventures, and Tripp Peake, General Partner at LRVHealth, will join Current Health’s Board of Directors.”
Current Health’s platform is used by many of the world’s leading health systems including Mount Sinai Health System, Geisinger Health and the UK National Health Service 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 funding comes on the heels of 3,000%+ growth in year-over-year revenue, making Current Health one of the fastest growing healthcare companies.
“It’s rare to see a company successfully execute across both healthcare delivery and drug delivery – this is what makes Current Health so special,” said Andrea Jackson, Director at Northpond Ventures.
“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.”
Current Health CEO and co-founder Chris McCann said: “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 organizations 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.”