CoachCare locked in a $48M growth investment to advance its mission of becoming the go-to virtual care management platform for providers, and it has a clear blueprint for how it plans to get there.
After digging into CoachCare for the funding coverage, one of the things that jumped out the most was how well the company seems to be executing on the M&A front:
- January 2017: CoachCare got its start as a virtual coaching platform for weight and lifestyle management programs.
- January 2020: The pandemic era emergence of new RPM and CCM reimbursement pathways prompts CoachCare to lean in on commercializing the technologies it built to use internally, with a platform combining connected devices and outreach / monitoring services to give providers everything needed to spin up their own virtual care programs.
- January 2023: CoachCare kicks off its acquisition spree with NVOLVE, a remote patient monitoring startup focused on MSK, pain management, and orthopedics.
- April 2023: CoachCare scoops up Carbon Health’s cardiology and nephrology-focused healthcare platform – Alertive.
- September 2023: WebCareHealth gets brought on to add new RPM, video conferencing, and real-time messaging expertise to the CoachCare platform.
- December 2023: Verustat joins the portfolio to bolster CoachCare’s presence in primary care and cardiology.
- June 2024: CoachCare also closed on another soon-to-be-announced acquisition just last month, which saw Dedica Health round out the solution suite with one-to-one care management and navigation.
The end result of all that M&A is that CoachCare now has a platform that can deliver specialized RPM and virtual health services for everything from hypertension and behavioral disorders to stroke recovery and high-risk pregnancies.
- Along with $48M in newly raised capital, CoachCare just took a step up to the RPM big leagues, and will now be competing for many of the same customers as the established leaders in the space.
The Takeaway
CoachCare is pedal to the metal with its M&A playbook, and an extra $48M pretty much guarantees that more acquisitions are right around the corner. As long as CoachCare continues finding attractive targets for reasonable costs, its next arc of growth will be defined by its ability to execute, hire, and integrate new capabilities into a cohesive offering.
