AvaSure announces investment from Goldman Sachs and Heritage Group
MUSKEGON, Mich., May 20, 2021 / PRNewswire / – AvaSure, a leading provider of telehealth audiovisual inpatient monitoring solutions, today announced that it has closed a significant equity financing from the Growth Equity team of Goldman Sachs Asset Management and Heritage Group. Terms of the investment were not disclosed and AvaSure will invest the capital in growth initiatives, including the development of its comprehensive suite of solutions, AvaSure 360 ™, to meet all patient telehealth needs. hospitalized. Incentrum Group was the exclusive financial advisor to AvaSure.
AvaSure pioneered its TeleSitter® solution in 2008 as a fall prevention tool – which has since become a standard for patient care – now placed in the top 10 U.S. healthcare systems and 826 hospitals in 48 states Canada. AvaSure’s TeleSitter solution enables a trained hospital worker to monitor up to 16 patients simultaneously, preventing not only falls, but also leaks, violence against caregivers and other adverse events. The TeleSitter solution serves as a workplace multiplier to optimize staffing efficiency and has been proven in clinical literature as a superior intervention for patient safety.
“AvaSure’s growth has increased dramatically year over year, and we are proud to partner with leading investors who can provide our business with an additional bench of expertise as we seek to grow and build on. our success, ”said the CEO of Avasure. Brad playford. “The COVID-19 pandemic has increased both the demand and acceptance for telehealth solutions. While no one was fully prepared for the changes brought by the pandemic, AvaSure was extremely well positioned with its virtual technology that continuously supports patient care, safety and outcomes. with unmatched reliability and scalability. ”
Antoine Munfa, Managing Director of Goldman Sachs, said: “We are very excited about our investment in AvaSure. AvaSure has a proven track record of innovation and success since its inception in 2008. We have been extremely impressed with the company’s renowned customer base, team’s depth of telehealth knowledge, as well as breadth of functionality. and the scalability of its telehealth platform. “
Graham hunter, a partner of Heritage Group, added: “AvaSure has firmly established itself as a dominant leader in the inpatient telehealth market. The company’s ability to improve patient safety and outcomes and deliver a return on investment in the months after going live creates a compelling solution that addresses some of the most pressing issues facing healthcare systems. currently facing. Several of our strategic limited healthcare system partners are satisfied customers and we expect AvaSure’s footprint to grow exponentially in the years to come as healthcare systems increasingly embrace telehealth solutions and seek to benefit from the use of labor. “
About AvaSure
AvaSure’s virtual continuing care technology can be found in more than 800 clinical environments, including top hospitals across United States and Canada. AvaSure telehealth products and solutions are manufactured and assembled in United States at AvaSure headquarters in Belmont, Michigan. The company has approximately 180 full-time employees. For more information visit www.avasure.com.
About Goldman Sachs Growth Equity
Founded in 1869, The Goldman Sachs Group, Inc. is a global leader in investment banking, securities and investment management. Part of Goldman Sachs Asset Management, Goldman Sachs Growth Equity (“GS Growth”) focuses exclusively on investing in growth stage, technology-driven companies. GS Growth has invested more than 13 billion dollars in strategic capital for entrepreneurs and management to execute long-term growth plans since 1994. For more information, please visit www.growth.gs.com.
About Heritage Group
Heritage Group is a Nashville, Tenn.Healthcare focused investment firm with over 35 years of experience in financing and operating healthcare businesses at all stages. Heritage seeks to make majority and minority investments, ranging from $ 20 at $ 40 million by portfolio company, in high-growth healthcare services and healthcare technology businesses that meet the challenges of the US healthcare system. The company’s limited partners include some of the country’s leading healthcare organizations, including major provider systems, payers, and healthcare providers. For more information visit www.heritagegroupusa.com.
Contact:
Jeremy witt
Phone: 269-370-1097
E-mail: [email protected]
SOURCE AvaSure