AAA Corporates exit as HealthLoop joins GetWellNetwork

Corporates exit as HealthLoop joins GetWellNetwork

US-based patient services provider GetWellNetwork has purchased HealthLoop, a US-based remote health monitoring platform developer backed by corporates iCarbonX and Lafayette General Hospital, for an undisclosed sum.

HealthLoop has created healthcare engagement and management software which enables care providers to interact with patients through automated daily check-ins, remote patient monitoring and video evaluations.

The platform is currently used by more than 70 healthcare organisations, facilitating more than 80,000 non-face-to-face visits and 7.2 million annual patient interactions each month.

The companies will jointly develop an integrated solution called GetWell Loop post-acquisition, and HealthLoop’s California-based team will continue to be led by CEO Todd Johnson as part of GetWellNetwork.

Michael O’Neil, founder and chief executive of GetWellNetwork, said: “Adding HealthLoop to our portfolio advances our strategy to provide the most comprehensive, end-to-end digital patient and family engagement platform.”

HealthLoop had raised at least $23.8m in funding according to press releases and regulatory filings.

The company received $8.4m in a May 2017 series B round featuring genomics technology producer iCarbonX’s DigitalLife Alliance unit, care provider Lafayette General Hospital’s Health Innovation Fund and Summation Health Ventures, a partnership formed by Cedars-Sinai Health System and MemorialCare Health System.

Venture capital firms Canvas Ventures and Next Equity also participated in the 2017 round. HealthLoop had raised an undisclosed amount of seed funding from investors including Physic Ventures, Founders Fund, TomorrowVentures, Altos Health Management and Kapor Capital in 2012.

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