eCare21 Announces Closing of $2.7 Million Seed Financing
Funding for expansion of virtual health solution to reduce hospitalizations of seniors suffering from chronic diseases
TAMPA, Fla., March 16, 2021 (Newswire.com) - eCare21, Inc, announced that the company has raised a total of $2.7 million on its Seed equity financing. The round was led by advisees of Quadrant Capital Advisors Inc. and InQLab.
The eCare21 Virtual Healthcare Platform provides Telehealth and Remote Patient Monitoring (RPM) of objective biometrics and other indicators of disease status. eCare21 enables holistic and timely interventions, with the purpose of reducing hospitalizations and improving clinical outcomes. Several major studies have shown that hospitalizations can be reduced by as much as 50% among seniors suffering from chronic diseases using RPM.
The current pandemic has dramatically increased Virtual Healthcare's rate of adoption, and eCare21 has a significant competitive advantage in this nascent field. eCare21's Virtual Healthcare solution is able to integrate quickly and seamlessly into Electronic Medical Record (EMR) systems and emerging monitoring devices, as well as facilitate communications and care efforts by the patients' "Circle-of-Care" - physicians, nurses, family members and social workers.
eCare21's Virtual Health solution generates intelligent alerts based on its proprietary Event Driven Monitoring technology (patent pending). As the number of patients monitored increases, eCare21's unique platform technology will use artificial intelligence to improve the quality of alerts and identify patterns that can guide care planning and lead to better patient outcomes.
The financing comes as eCare21 plans an ambitious expansion in senior care organizations, hospital groups and private physician practices, with a focus on cardiologists. The new resources will be used to complete pilots in existing and new clients, to finance marketing and sales efforts to acquire new clients and to integrate additional client EMR systems as well as leading monitoring devices into eCare21's platform.
In conjunction with the closing of the Seed Round financing, eCare21 also announced changes in its Board of Directors to incorporate two new non-executive directors: Steve Lazer, Global Healthcare Chief Technology Officer at Dell EMC Industries and Gregorio Marquez, Managing Director of InQlab
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Source: eCare21 Inc.