Raises First Institutional Round to Accelerate Growth and Expand Services
Amherst, MA (November 14, 2016) - Oculus Health, a digital remote care management company that assists health care providers in better managing chronic conditions like Diabetes, Hypertension, COPD, Cancer, and Heart Disease, today announced it has closed an oversubscribed Series A financing led by Excel Venture Management, Long River Ventures, and Excelerate Health Ventures.
“This financing will accelerate our growth to deliver and expand the multifactorial benefits associated with our patient centered care solutions to physician offices and clinics nation-wide,” said Sridhar Yerramreddy, Chief Executive Officer of Oculus Health. “Our solutions empower our providers to extract new insights with a more novel, intuitive and effective approach to engage their patients and drive enhanced outcomes. We are pleased by the significant interest in our Series A financing and are honored to have such a great group of financial and strategic partners to accelerate our progress."
Caleb Winder of Excel Venture Management and Will Cowen of Long River Ventures, will join the company's board of directors. Oculus Health will use the financing to expand its product to further strengthen efficiencies of CCM delivery and will leverage the funding to deliver its CPC+ platform in Quarter 1, 2017. The CCM opportunity alone, represents a potential market of $17B amongst Medicare beneficiaries.
Providers and clinics use Oculus Health to deliver personalized and effective care coordination models and extend the reach of physicians’ offices to patients’ homes. Oculus delivers a simple yet radically different approach that puts the patient first and delivers personalized health coaching. By utilizing Oculus’ patent-centered care solutions, any size physician practice or clinic can cost effectively offer their patients remote personalized coaching while positively impacting the practices’ bottom-line, retention and patient satisfaction scores. Oculus’ solutions improve patient outcomes and have decreased emergency room visits and unplanned hospitalizations.
Today, Oculus’ solution is assisting thousands of patients on behalf of several provider organizations across 32 states.
“Oculus allows even a small physician office to offer best practice support to their chronic patients on a 24x7 basis,” said Will Cowen, General Partner at Long River Ventures. “We are excited to invest in a company that is having such a positive impact on the lives of chronic patients, while also increasing practice revenue and reducing the burden on physician office staff.”
About Oculus Health
Oculus Health’s flagship Chronic Care Management is a clinically-validated, scalable, remote care management product that combines individualized care management, patient-centered health plan, peer support, and smart technology to help individuals make lifestyle changes that lead to improved care adherence with reduced risk of unplanned hospitalization. Rooted in behavioral science, leveraging the proven consumer engagement model of experiential rewards, and featuring world-class design. Oculus is a uniquely engaging and compelling program that can be accessed through a participant’s smartphone, tablet or computer. Oculus Health works directly with U.S. based physicians, group practices, hospital organizations, self-insured employers and risk-bearing health systems to make Oculus available to individuals with chronic conditions.
To contact Oculus Health for collaborative or partnership opportunities or for any general queries, please contact: firstname.lastname@example.org or visit their website.
About Long River Ventures
Long River Ventures invests in early growth stage healthcare and enterprise IT companies. Formed by a group of experienced entrepreneurs and venture capitalists, Long River typically leads or co-leads Series A rounds of $3-5 million, contributing up to $1 million, with significant reserves for follow-on investments. The firm invests primarily in the Northeast, both in the major venture markets of Boston and New York and in nearby regional markets. It has offices are in Boston and Amherst, Massachusetts.