NASHVILLE, TN, Contessa Health announced today that they have secured additional financing led by Health Velocity Capital.
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Contessa Health Inc., a leader and pioneer of Home Recovery Care, a risk-based model that combines all the essential elements of inpatient hospital care in the comfort of patients' homes, announced today that they have secured additional financing. The round was led by Health Velocity Capital, with participation from existing investors: BlueCross BlueShield Venture Partners, Noro-Moseley Partners, and Sandbox Advantage Fund.
The new round of funding will be used to support the continued adoption of hospital-level care in the home.
"We're very excited to have led this financing round and to partner with Contessa. Our mission at Health Velocity Capital is to generate outstanding financial returns while contributing to a more affordable, sustainable, consumer-friendly healthcare system," said Bruce Crosby, Managing Partner at Health Velocity. "Research shows that eligible patients who choose inpatient care at home experience equal or better outcomes, but at lower costs and higher patient satisfaction. We believe this is an investment in which we can leverage our relationships to help Contessa to continue to drive growth and value, funding the demand for Contessa's Home Recovery Care models."
The concept of bringing inpatient care inside patients' homes has been gaining national momentum and is being adopted rapidly by leading health systems and health plans across the country. Contessa's model offers a complete turnkey solution, bringing together evidenced-based clinical models for acute care, post-acute care and surgical procedures with administrative support services and a proprietary health informatics platform.
"We are thrilled to have Health Velocity Capital lead our most recent capital raise, and to have the continued support of our initial investors, BlueCross BlueShield Venture Partners, Noro-Moseley Partners, and Sandbox Advantage Fund," said Travis Messina, Chief Executive Officer at Contessa. "Each of these groups have enabled innovative companies to reinvent the way healthcare is delivered, just as Contessa relentlessly works to do every day, and we're honored to have their backing to continue our mission."
Based in Nashville, Contessa is the leader and pioneer of Home Recovery Care, a risk-based model that combines all the essential elements of inpatient hospital care in the comfort of patients' homes. Founded in 2015, Contessa utilizes a cutting-edge proprietary health informatics platform to facilitate Home Recovery Care that is safe, affordable and improves patient outcomes. Contessa's turnkey solution provides upfront savings to health plans, enables health systems to reinvent their care delivery model by treating patients without admitting them into the hospital, and helps physicians deliver a better experience for patients.
For more information, visit contessahealth.com and follow @contessahealth.
About Health Velocity Capital
Health Velocity Capital has offices in San Francisco, CA, and Nashville, TN, and invests exclusively in innovative healthcare software and services companies. The firm's partners have more than 50 collective years as investors, entrepreneurs and senior executives helping to build innovative companies that created important new healthcare markets and/or that became market leaders, including companies such as Teladoc, Change Healthcare, US Renal Care, OnShift, Vantage Oncology, The Advisory Board Company, Healthways, Tivity Health, D2Hawkeye, Compassus, iTriage, Aspire Healthcare, and many others. In addition to investing on behalf of institutional investors, Health Velocity invests on behalf of a number of our nation's largest and most influential healthcare organizations and a number of current and former healthcare senior executives and leaders. Collectively, these investors represent organizations that provide health insurance to more than 60 million Americans, operate more than 80 hospitals, provide pharmacy and PBM services to more than 75% of all Americans, and provide software and services to every major hospital in the United States.