Contessa Secures Financing to Continue Deployment of Inpatient-Level Care at Home Models
Published: Tuesday, May 22, 2018 2:33 pm
(BUSINESS WIRE)--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.
"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."