CoachCare Secures $48 Million Investment to Accelerate Growth in Remote Patient Monitoring and Virtual Care Management
CoachCare, a New York-based remote patient monitoring and virtual care management company, has secured significant funding to further its growth and expansion in the healthcare technology sector. The company recently announced a $48 million strategic growth investment led by Integrity Growth Partners, with participation from Topmark Partners[1][5].
This investment is aimed at accelerating CoachCare’s growth in key business areas while allowing the company to remain founder-led. The partnership with Integrity Growth Partners will leverage the firm’s considerable software and operational expertise to enhance CoachCare’s product offerings and operational capabilities.
CoachCare provides a comprehensive suite of remote care solutions, including remote patient monitoring (RPM), chronic care management (CCM), and remote therapeutic monitoring (RTM). These solutions are used by healthcare organizations and have supported more than 150,000 patients nationwide. The company’s platform combines best-in-class software and connected devices with outreach and monitoring services to give chronic care management and other virtual care management programs at scale, leading to improved patient outcomes and increased practice revenues.
The company has been growing rapidly, both organically and through mergers and acquisitions. In 2023, CoachCare acquired four companies, including NVOLVE, a remote patient monitoring company focused on pain, spine, and orthopedic specialties; Alertive, a cardiology and nephrology-focused healthcare platform from Carbon Health; WebCareHealth, an Iowa-based RPM company; and Verustat, a primary care and cardiology-focused platform. These acquisitions have expanded CoachCare’s remote patient-monitoring capabilities and strengthened its position in the rapidly growing RPM market.
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 and tech-enabled services businesses that have achieved scale with strong product-market fit. Integrity Growth Partners’ investments focus on talent and organizational design, go-to-market strategy, M&A, and partnerships.
“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.”
Additionally, in December 2024, CoachCare raised an additional $11 million in funding led by Catalyst Investors. This latest round brings CoachCare’s total equity funding for 2024 to $59 million. The company has also secured a credit facility with Everberg Capital, providing up to $52 million in debt financing. With these initiatives, CoachCare has raised over $110 million in debt and equity capital this year to support its dual-pronged growth strategy and to provide liquidity to its existing equity holders[2].
The strategic investment and additional funding will enable CoachCare to further accelerate its growth, expand its operations, and enhance its development efforts. The company’s comprehensive platform and strategic acquisitions position it to deliver even greater value to both patients and healthcare providers, leading to improved patient outcomes, increased provider revenue, and a more efficient healthcare system overall.