The hospital-at-home space continues to pick up speed as Medically Home announces a new $110M round and a fresh set of strategic partners.
- The round was led by medtech company Baxter International and mobile care provider Global Medical Response, joining Cardinal Health, Mayo Clinic, and Kaiser Permanente who added to previous investments. Each investor is now a strategic partner in Medically Home, a strong sign of confidence in the company’s expansion plans.
- Medically Home’s platform enables in-home care for high-acuity patients through the use of RPM devices, emergency response systems, and durable medical equipment installation. Providers use these tools to continuously monitor and communicate with patients from a customized “command center.”
- The new strategic partners strengthen Medically Home’s care delivery model. GMR’s network of 30k deployable clinicians will provide quicker response times, while Baxter’s involvement will give care teams access to a wider set of therapies for critical conditions.
- Although the funding’s purpose was not explicitly stated in the press release, it’s clear that Medically Home is intent on expanding its capabilities, and $110M is a healthy amount of capital to begin scaling its services nationwide.
The Takeaway
Medically Home operates at the intersection of several key trends. The pandemic has made brick-and-mortar settings dangerous for the type of high-acuity patients that Medically Home treats, many hospitals are operating at or near capacity, and consumer preferences are increasingly shifting towards comfortability and in-home care. Medically Home’s services address each of these directly, and judging by its growing partner roster, many companies share a belief in the care model.
