CoachCare Announces $48 Million Investment Led By Integrity Growth Partners
Integrity Growth Partners' investment in the RPM and virtual care management company aims to further accelerate CoachCare's rapid growth. PEAK Technology Partners served as the exclusive financial advisor to CoachCare on this transaction.
SAN FRANCISCO, July 25, 2024 /PRNewswire/ -- CoachCare, a leading remote patient monitoring (RPM) and virtual care management company, today announced a $48 million strategic growth investment led by Integrity Growth Partners ("IGP"), a leading growth investment firm focused exclusively on software and technology-enabled businesses. Topmark Partners also participated in the investment. The partnership with IGP will enable accelerated growth in key business areas while allowing CoachCare to remain founder-led.
As the prevalence of chronic conditions such as obesity, hypertension, and diabetes has increased throughout patient populations, medical practitioners have increasingly turned to new technologies to help treat and monitor these patients effectively. CoachCare's platform combines best-in-class software and connected devices with outreach and monitoring services to give health care providers everything needed to establish and operate RPM, chronic care management (CCM) and other virtual care management programs at scale, leading to improved patient outcomes and increased practice revenues. With CoachCare's comprehensive platform, providers are able to better treat their patients with chronic conditions, alleviate staffing constraints and improve their financial performance.
"CoachCare is becoming the go-to RPM solution for healthcare providers, which is reflected by our deep roster of satisfied customers and expansive virtual care management offerings," said Wes Haydon, President and Co-Founder of CoachCare. "CoachCare has been growing rapidly, both organically and through M&A, and we look forward to partnering with IGP and leveraging its considerable software and operational expertise as we continue to build our business and enhance our product offerings for customers," said Andrew Zengilowski, CEO and Co-Founder of CoachCare.
The investment in CoachCare was the second made by Integrity Growth Partners Fund II, which provides growth investments and strategic support to high-growth, Software & Tech-Enabled Services businesses that have achieved scale with strong product-market fit. Integrity Growth Partners' investments focus on talent & organizational design, go-to-market strategy, M&A, and partnerships. Founders and management teams benefit from the expertise, support, and unique perspectives of IGP and its extensive network of resources to accelerate growth, unlock organizational potential, and drive impressive value to customers.
"CoachCare is led by an experienced team that understands the unique opportunity presented by the fragmented RPM market, as well as the skills and discipline required to take the company to the next level," said Ryan Anderson, Partner at Integrity Growth Partners. "CoachCare has built an impressive and differentiated platform that is rapidly emerging as a market leader in RPM and virtual care management," added Anderson. "We look forward to partnering with Andrew, Wes, and the entire CoachCare team as they embark on this exciting next phase of growth."
PEAK Technology Partners served as the exclusive financial advisor to CoachCare on this transaction, adding to its extensive track record of helping high-growth businesses across the healthcare technology landscape. Whitman Breed Abbott & Morgan LLC served as legal counsel for CoachCare on the transaction, while Morris Manning & Martin, LLP acted as legal counsel for IGP.
About CoachCare
CoachCare, a New York-based remote patient monitoring and virtual care management company, moves healthcare providers beyond technology to a complete remote care solution addressing many healthcare specialties. Its comprehensive offering, including remote patient monitoring, chronic care management, principal care management, and behavioral health integration drives improved patient outcomes and increased provider revenue. More than 150,000 patients and hundreds of healthcare organizations benefit from CoachCare's solution.
For more information, visit www.coachcare.com.
About Integrity Growth Partners
Based in Los Angeles, Integrity Growth Partners is a growth private equity firm focused on investing in lower middle market software and tech-enabled services businesses led by exceptional management teams. IGP targets investments in high-growth companies with established products and business models, bringing to bear a differentiated combination of investing and operating experience.
For more information, visit www.integritygp.com.
About Topmark Partners
Topmark Partners is a Tampa, FL-based growth equity investment firm targeting high growth technology-enabled businesses. Topmark seeks to partner with domain-experienced entrepreneurs operating established businesses with scalable business models and recurring or repeatable revenue. Topmark has a 25+ year history of building trusted relationships with management teams, bringing extensive investment experience, relationships, and knowledge to help catalyze rapid growth.
About FCA Venture Partners
FCA Venture Partners is a venture capital firm investing in early-stage healthcare technology and technology-enabled healthcare services companies that improve patient care, reduce costs, or increase efficiency. FCA manages over $225 million and invests across the Series Seed to Series B stages. FCA brings portfolio companies valuable healthcare insights, connections, and board-level experience to accelerate growth and build disruptive and sustainable businesses. Based in Nashville, the epicenter of healthcare innovation, and Charlotte, the FCA team has a decades-long track record including more than 60 investments in the rapidly changing healthcare industry.