Hicuity Health announced that they have completed a growth equity financing, led by Concord Health Partners. With this funding, Hicuity will accelerate its plans to expand its presence across service lines and support technology development initiatives. Hicuity’s solutions help alleviate persistent workforce burdens by providing virtual clinical care in support of the bedside clinical team, driving improved quality of care for patients and support for onsite clinicians.
A leader in the acute care telemedicine space, Hicuity launched the first external tele-ICU offering, revolutionizing care delivery for hospitals’ and health systems’ most critical patients. Hicuity has since expanded its care delivery to extend beyond the ICU, delivering virtual nursing, virtual sitter, inpatient telemetry, smart device monitoring and shared services within hospital, post-acute, and in-home environments. Serving more than 145 individual hospitals, health systems, and post-acute facilities nationwide, Hicuity tailors solutions to fit each partner’s needs, leveraging its HUB proprietary infrastructure and working carefully with their partners to ensure highest quality service delivery and optimal clinical protocols. Repeatedly, Hicuity has proven that the ability to optimize care solutions to fit partner needs is a critical factor to improve the care experience for patients and providers alike.
Since its inception, Concord Health Partners has collaborated with the American Hospital Association (AHA) and its strategic limited partners to support innovation in care delivery while accelerating growth for portfolio companies. Hicuity’s track record of driving innovation and quality care through virtual solutions aligns directly with Concord’s investment thesis.
“Hicuity is well positioned as a tech-enabled provider of high-acuity clinical services, leveraging its track record of partnership with leading healthcare organizations across the U.S.,” said James Olsen, Founder & Managing Partner at Concord Health Partners. “Hicuity delivers a compelling value proposition by alleviating workforce challenges and partnering to provide higher quality patient care. We look forward to supporting the Company by collaborating with our strategic partners to accelerate adoption of Hicuity’s offerings in health systems across the U.S.”
“Hicuity Health appreciates the endorsement of our success and our vision that Concord Health Partners has provided with their investment,” said Lou Silverman, CEO of Hicuity Health. “Hicuity has consistently innovated in delivering provider-to-provider telemedicine that helps facilities improve care and address compelling healthcare issues such as clinical workforce challenges. We will continue to deliver innovation in technology-enabled care and clinical staffing, empowered by our partnership with Concord.”
Persistent healthcare staffing challenges are top of mind for many healthcare providers, and Hicuity has the advantage of leveraging cost effective and scalable solutions to provide high quality and high acuity care in various settings. Hicuity plans to leverage this financing round to invest in three main areas to accelerate growth of its tech-enabled care delivery services:
- Support for the broad range of growth and technology developments at Hicuity to further enhance the customer experience
- Expansion into new specialty lines of business and care venues to provide greater resources to future and existing customers
- Support for both organic and inorganic strategic growth opportunities to enhance Hicuity’s existing product offering
About Concord Health Partners
Concord Health Partners (“Concord”) is a healthcare focused investment firm with a strategic model that optimizes the alignment of interests between investors and portfolio companies. Concord has developed a broad network of strategic investors that contribute expertise and resources, and serve as potential commercial partners to portfolio companies. Concord is primarily focused on investing in healthcare companies that have the potential to enhance the value of care through products, services, technologies and solutions that lower costs, improve quality and expand access to care. For more information, visit www.concordhp.com.
