Cadence, a provider of remote patient monitoring and virtual care services, has moved out of stealth mode from a $41 million financing led by General Catalyst and Thrive Capital. The New York City-based company also has a partnership with LifePoint Health in Brentwood, Tennessee.
According to statistics, more than half (52%) of American adults have at least one chronic disease, such as arthritis or diabetes. Data from the Centers for Disease Control and Prevention.
Chris Altchek, CEO and founder of Cadence, said in an email: “It is very difficult for the health system to manage these patients according to the best guidelines.” “Improving the outcome of chronic diseases requires good data, personalized Methods and [a] Responsive clinical team. “
Cadence provides a remote care management platform that enables clinicians to remotely monitor the vital signs of patients, provide personalized feedback via text messages after each reading, and conduct one-to-one telemedicine visits when needed. The platform uses machine learning to continuously improve.
Altchek said, for example, Cadence’s platform and clinical team can help improve compliance with the guidelines for medications for patients with heart failure by recruiting, participating, and monitoring patients, and adjusting medications as needed. The company provides the necessary equipment to collect patient vital signs data.
“Today, it is difficult for individuals to manage chronic diseases alone, and it is difficult for doctors to manage thousands of patients,” Altchek said. “No one is prepared for success. Our results in the United States are terrible. We want to help the large health system solve this problem.”
Cadence was established at the end of last year. It has completed a seed round led by Thrive Capital and a round A round led by General Catalyst. Hemant Taneja, managing partner of General Catalyst and co-founder of Livongo, and Kareem Zaki, general partner of Thrive and co-founder of Cedar, have joined Cadence’s board of directors.
Altchek said the company will use the newly raised funds to build a team and support its partnership with LifePoint Health.
According to the partnership, Cadence’s solution will be deployed to more than 100,000 patients in the system.
Initially, these organizations will focus on guideline-oriented medical treatment of heart failure. Altchek said that their goal is to build the largest remote care platform for heart failure patients in the country.
The remote patient monitoring market is large and growing rapidly A recent report estimates By 2027, the market value will reach 15 billion U.S. dollars, up from about 4 billion U.S. dollars in 2018.Several companies in this area are receiving funding, including BioIntelliSense, and recently $45 million raised Used for remote patient monitoring equipment.
Photo: Abscent84, Getty Images
