Curve Health Raises $12M in Oversubscribed Series A

NEW YORK, Feb. 7, 2022 /PRNewswire/ -- Curve Health today announced a $12M Series A financing round led by Morningside Ventures with participation from Alumni Ventures and Recover-Care Healthcare, as well as returning investors Lightspeed Venture Partners, IDEO, Inflect Health, Correlation Ventures, Rosecliff Venture Partners, Kapor Capital, WTI, and angel investor Ben Jealous.

Curve Health delivers an award-winning care enablement platform that allows patients and providers to connect beyond the four walls of a facility. The Curve solution includes telemedicine, health information exchange, data and predictive analytics, and billing integrations that enable 1) patients to avoid unnecessary trips to the hospital, 2) providers to have a one-of-a-kind user experience, and 3) skilled nursing facilities (SNFs), healthcare systems, and provider groups to improve their bottom line.

"Curve's platform enables scalable, effective, and affordable provisioning of care for residents in nursing facilities nationwide," said Stephen Bruso of Morningside Ventures. "We are proud to partner with the Curve Health team as they work to bring value to these patients."

"Lightspeed first invested in Curve back in 2020 and we're proud to re-invest in the company today and continue supporting its mission to leverage technology to improve care for those in need," said Dr. Ling Wong of Lightspeed Venture Partners. "Curve's integrated platform is exactly the right solution at exactly the right time."

Curve Health's platform improves patient outcomes by providing more personalized care for patients and residents. Patients are connected from their rooms directly with remote physicians through a tablet, allowing bedside nursing staff to execute treatment plans. Higher visibility on the individual is made available through integrations with electronic health records and diagnostics. Additionally, business intelligence analytics enable care facilities to improve staffing allocation, and smart billing features provide appropriate reimbursement for remote provider groups.

"We're seeing remarkable interest and quickly growing demand for remote care options in care facilities across the country," said Rob MacNaughton, Curve's CEO. "With this investment we'll scale even more rapidly, particularly as the post-acute space shifts toward value-based care.  We are excited to partner with providers looking to thrive in value-based models and, more importantly, deliver better models of care to seniors nationwide."

In July, Curve partnered with CareConnectMD, a California-based provider group that delivers value-based care for people living in nursing homes via its High Needs Direct Contracting Entity (DCE).

"Partnering with Curve Health, the best technology platform we've seen for realizing our mission, will help close the gaps that hold care back and will reinvent the quality of lives for those who need it most, in a modern, yet caring way. And in a way that totally differentiates from other physician groups by delivering outsized value to patients, families, SNFs and payors," Kim Phan, CEO and co-founder of CareConnectMD said in a statement.

A study by the Western Journal of Emergency Medicine found care provided through the Curve Health platform reduced SNF patient hospital admissions by 80%. Curve plans to use the funds to expand its footprint in New York, California, Minnesota, and Massachusetts, while also growing into new markets across the country.

About Curve Health:
Curve Health believes in healthcare without walls. Curve's platform incorporates telemedicine, health information exchange, data & predictive analytics, facilitating  frictionless patient care resulting in higher quality care + smarter billing.

SOURCE Curve Health