Industry’s first smart care facility platform reinvents AI-powered care delivery models and optimizes the clinical workforce
ORLANDO, Fla., Nov. 21, 2022 (GLOBE NEWSWIRE) — care.aithe first and only AI-powered ambient monitoring platform in healthcare, today announced $27 million in funding from Crescent Cove Councilorsa multi-asset investment firm focused on technology investments, to accelerate the growth and large-scale deployments of the industry’s first smart healthcare facility platform in the United States
The care.ai Smart Care Facility Platform™ transforms healthcare facilities, such as hospitals and nursing homes, into responsive care facilities that continuously monitor and streamline clinical and operational workflows. Powered by AI-enabled edge sensors, the platform presents real-time inferences and insights to alert and report activities that help healthcare organizations improve quality, safety and compliance while by optimizing the clinical staff. Innovative features such as virtual nursing, virtual sitting, and ambient monitoring can be easily enabled through care.ai’s command center, unlocking a wide range of use cases that improve patient outcomes and power more human care.
The company has already deployed its technology in more than 1,500 facilities across the United States, including hospitals, skilled nursing facilities and assisted living facilities. care.ai plans to use funding from Crescent Cove Advisors to build on continued success and lead the market in delivering ambient intelligence to healthcare.
“The physical, emotional and economic burden on our caregivers has never been greater. Processes remain manual and time-consuming, and care teams get bogged down in tedious tasks and paperwork – and sadly, clinicians and patients suffer the consequences,” said care.ai CEO and Founder Chakri Toleti. “Our mission is to enable the transformational promise of an intelligent care facility, delivering a level of care the world has never seen. We’ve spent the past few years expanding our platform while partnering with leading healthcare systems and long-term care organizations nationwide. I am thrilled to have the support of Crescent Cove as we continue to evolve and execute.
care.ai’s technology is transforming healthcare settings to help address some of the nation’s most pressing healthcare challenges, including the severe shortage of nurses and financially unsustainable models of care. Reports predict that approximately 1.2 million new registered nurses (RNs) will be needed by 2030 to address the current shortage, adding pressure to an already strained system. Additionally, hospital safety and security protocols have evolved significantly without a centralized system to facilitate these changes. The care.ai platform alleviates these pain points, saving nurses valuable time and easing the burden on care teams, while creating a technology solution that hospitals can rely on to ensure safety and efficiency. patients and care teams.
Toleti is a successful entrepreneur and innovator in the health informatics industry. Prior to founding care.ai, Toleti was president and co-founder of HealthGrid, an enterprise patient engagement platform designed to connect patients and providers through their smart devices. In 2018, HealthGrid was acquired by Allscripts. Prior to that, he co-founded Galvanon, the company that first introduced patient check-in at self-service kiosks to automate patient check-in and admission processes in hospitals. Galvanon was acquired by NCR in 2005.
“We are thrilled to partner with Chakri and his talented team, who have a proven track record of innovating and building successful businesses in healthcare IT,” said Jun Hong Heng, Founder and Chief Investment Officer at Crescent Cove Advisors. “Through AI and smart technology, care.ai improves the lives of care teams and their patients. We look forward to supporting the company in its critical mission to transform the way healthcare is delivered. »
care.ai’s transformative innovation empowers AI-powered smart care facilities to ambiently monitor clinical and operational workflows and derive real-time insights to predict, prevent and protect, optimize health and safety. patient and provider experience and ultimately fueling more humane care. Deployed in more than 1,500 healthcare facilities, care.ai partners with healthcare systems and long-term care facilities to fulfill the company’s mission to deliver on the transformational promise of an intelligent care facility , delivering a level of care the world has never seen. To learn more, visit care.ai.
About Crescent Cove Advisors:
Crescent Cove is a multi-asset investment firm focused on technology investments and dedicated to supporting entrepreneurs and founders. Founded in 2016, Crescent Cove leverages its global network of relationships and unique knowledge of emerging markets, industries and technologies to build businesses and accelerate value creation across its portfolios. For more information, visit www.crescentcove.com.
For Crescent Cove
Doug Donsky, ICR
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