Adaptive Healthcare’s investment will enable LifeAssist Technologies to enhance its software platform, expand pilots, and develop strategic partnerships.
LifeAssist represents a breakthrough solution for care transitions and coordination, by offering unprecedented efficiency in enabling complex layers of information to be shared and distributed.
LOS ANGELES, CA (PRWEB) MARCH 28, 2017
Adaptive Healthcare, the first Southern California-based investment fund focusing on opportunities driven by healthcare transformation, has announced the first portfolio investment of its LaunchPad Fund in LifeAssist Technologies.
LifeAssist, which is led by co-founder and CEO Val Ornoy, integrates its pioneering enterprise software platform with a low-cost in-home device to coordinate care and streamline communication and collaboration between caregivers, families, and health professionals. Whether the “care circle” initiates in the hospital , nursing home, or when a patient is already home, LifeAssist enables the care team to be organized and communicate efficiently, allowing for an unprecedented level of ease in getting the right information where it needs to go, as well as allowing family members to know the relevant details that they worry about: did a caregiver arrive on time? Were meals eaten and medication taken in real time as care was being delivered? The in-home device enable easy two-way communication, serving as a portal for in-home caregivers and the person at the center of care circle.
“We are excited to make this investment in LifeAssist,” commented Adaptive Healthcare’s Fund Manager, Larry Gill. “LifeAssist represents a breakthrough solution for care transitions and coordination, by offering unprecedented efficiency in enabling complex layers of information to be shared and distributed. We believe it represents key ‘connective tissue’ that is missing from the healthcare landscape.“
In connection with the investment, Adaptive Healthcare Investment Committee co-chair Harry Nelson has joined the advisory board of LifeAssist, providing ongoing support to the company. This type of support is at the core of the Adaptive Healthvcare vision of providing “smart money,” meaning investment accompanied by dedicating mentoring, input on strategy, and connecting the company with Adaptive’s network of leadership from all walks of the healthcare industry. “Working with the LifeAssist team has only reinforced our conviction that its solution represents a significant breakthrough. We love the team, the product, ad the product-market fit,” commented Nelson. “Given the uncertainty ahead over the availability of healthcare reimbursement for care coordination, the need for value-driven solutions is compelling. We see LifeAssist’s technology as an important piece of the puzzle.”
“The funding and advisory support of Adaptive Healthcare has been a game-changer for our company,” said LifeAssist CEO Val Ornoy. “It has led us to broaden our thinking about applications for our device, to pursue promising strategic partnerships, and has also made us more attractive to other outside investors.”
Adaptive Healthcare launched in 2016 with two funds. Adaptive Healthcare’s LaunchPad Fund invests in early-stage technologies poised to capitalize on the paradigm shifts in healthcare, including aging in place technologies, digital health, telehealth, and care coordination, as entrepreneurs strive to reduce costs and improve the quality of care and services. In addition, Adaptive’s Expansionary fund efforts debt funding intended to catalyze growth in mature healthcare companies. “Our goal,” commented Investment Committee Co-Chair Rob Fuller, is to “identify and invest in opportunities driven by paradigm shifts in healthcare. Adaptive is in the process of finalizing additional portfolio investments, which we look forward to sharing in the near future.”