FORT LAUDERDALE, Florida—CarePredict announced a $29 million Series A-3 investment co-led by SV Health Investors’ Medtech Convergence Fund and Aspire Healthtech Partners. CarePredict’s technology autonomously identifies changes in daily activity and behaviors that precede health issues such as urinary tract infections, falls, malnutrition and depression. The ability to detect early signs of health concerns allows preventive care and preserves the overall well-being of older adults. Peer-reviewed and published studies have shown CarePredict reduces hospitalizations by 39%, falls by 69% and increases the length of stay in a lower care setting by 67%.
The investment was co-led by SV Health Investors’ Medtech Convergence Fund and Aspire Healthtech Partners. Existing institutional investors Secocha Ventures and Las Olas Venture Capital participated, along with family offices and individual investors.
“CarePredict has demonstrated excellent traction in senior housing and is well positioned to expand into the aging in place segment with a proven record of prediction and early intervention to not only preserve the health of older adults but to meaningfully affect healthcare costs positively," said Greg Madden, managing partner, SV Health Investors.
“I have done an exhaustive search of the wearable technologies that can provide meaningful resident movement and physiological data in our vertically-integrated, owned and managed senior housing portfolio," said Philip Gisi, CEO of Edgewood Healthcare and managing director of Aspire Healthtech Partners. "CarePredict’s unique approach to data accumulation and analysis allows us to realize our goal of virtual integration and predictive interventions. Along with this investment, we have started installing CarePredict in our communities.”
“I am very pleased that SV Health Investors and Aspire Healthtech Partners have joined us in our vision to reimagine care for older adults and I look forward to accelerating our impact across all care settings and payer models in senior care," said Satish Movva, CEO & founder, CarePredict.
