Routinify, a telecare service provider for aging adults, raised $1.5 million from Resolute Capital Partners (RCP), a private equity firm.
The company plans to use new funds to further expand its telecare offerings.
Routinify provides a telecare program called WellAssist that supports and continuously monitors the health, safety, and well-being of aging adults all day so they can live independently at home.
The program, focused on seniors and aging people, gathers real-time data from their wearable and medical devices and in-home sensors and their interaction with the at-home devices to provide personalized healthcare services based on their health condition. Further, the company’s platform connects patients with care providers for virtual visits, at any time in a day.
According to the latest McKinsey survey, the telehealth adoption in the U.S. has skyrocketed (due to COVID-19 pandemic), from 11% in 2019 to 46% in 2020. McKinsey predicts that up to $250 billion of current U.S. healthcare spending could probably be virtualized.
Recently, Swedish telemedicine company Doktor.se raised $50 million to expand its digital operations and offline clinics to meet growing demand. Amwell (formerly American Well), a telehealth company, raised $194 million in Series C financing to expand its telehealth services. Allianz X and Takeda led the Series C financing round.