VitalTech, which provides an integrated digital health platform called VitalCare, has raised $3 million from Tech Mahindra in exchange for about a 6% stake in the company. With the new funding, VitalTech intends to expand its go-to-market capabilities by hiring new sales, marketing, and customer support staff.
Tech Mahindra is an India-based information technology and business outsourcing services company. Tech Mahindra also has the option to purchase an additional 8% stake in VitalTech for another $5 million.
VitalTech launched operations at the end of 2018 as a biosensor technology company and has since expanded to development of VitalCare, its integrated digital health platform. VitalTech markets to hospital and health systems, physicians and group practices, payers and payviders, home health provider organizations, long-term care provider organizations, and employers. In February 2020, VitalTech acquired Breezie, a senior engagement platform.
VitalCare simplifies workflows and supports connected care through remote patient monitoring. It collects data from the remote monitoring devices, stores it to the cloud, and shares the data via user apps, family connect apps, care teams apps, administrative web portals, and third-party integrations. The goal is to improve consumer outcomes, lower overall costs, and enhance quality of life and care across the care continuum.
This was reported by NXTINNO on November 12, 2020.