Electronic Caregiver – a pioneering provider of advanced TeleCare services and the Addison Virtual Caregiver technologies – announced the opening of a new Series A Preferred financing. The $95 million financing will be offered to select institutional investment funds and large, existing strategic technology partners of Electronic Caregiver. CMD Global Partners is representing Electronic Caregiver in the placement.
This funding round will drive increased marketing, sales, and expansion efforts for Electronic Caregiver’s virtual patient care, caregiving technologies, and services. And with a strong focus on improving treatment adherence, and health outcomes, and extending the functional lifespan, Electronic Caregiver aims to transform how individuals receive care and support, empowering them to live healthier, more independent lives with an overall higher state of wellness.
Electronic Caregiver’s suite of innovative solutions is designed to address the evolving needs of patients, caregivers, and healthcare providers alike. And the company’s flagship product the Addison Virtual Caregiver combines cutting-edge, artificial intelligence, mixed reality, and connected devices with personalized remote care to deliver an unparalleled level of support and assistance. And Addison Virtual Caregiver acts as a reliable care companion, ensuring medication adherence, offering vital health reminders and measurements, performing automated assessments, providing access to emergency assistance, and delivering comprehensive health education, all from the comfort of home.
Powered by ADDI, which is an innovative PaaS, the entire Addison solution has been certified in a “Well-Architected Review” by AWS, with technologies that incorporate machine learning, AI, natural language processing, computer vision, edge computing, and an array of integrated care services.
This funding round will enable Electronic Caregiver to amplify its marketing initiatives, strengthen its sales infrastructure, and accelerate its research and development efforts. And the company’s dedicated team of experts will work tirelessly to bring its transformative technologies and services to a broader audience, forging more strategic partnerships with key players in the healthcare and technology sectors.
Electronic Caregiver’s commitment to utilizing technology to improve and extend patient care has already garnered recognition and trust from many healthcare providers and caregivers nationwide, resulting in improved management of chronic conditions, lower hospital readmissions, and countless life-saves. This funding will also help empower more individuals to take control of their health and well-being during a time of rising demand for care, coinciding with an increasing shortage of available doctors. A significant percentage of doctors are working at or past the average age of retirement.
KEY QUOTES:
“We conducted extensive interviews and due diligence with several top investment banking firms and John and his team at CMD Global were the clear choice to be our investment banking advisors for this round.”
— Joseph Baffoe, President of Electronic Caregiver
“We are delighted to embark on this exciting new chapter for Electronic Caregiver with the support of our Series A Preferred financing. This funding will enable us to enhance our marketing and sales efforts and drive continued product differentiation and enhancements while reaching even more individuals in need of advanced TeleCare services. By expanding our footprint and driving innovation, we aim to revolutionize the way patients are cared for, bringing unprecedented convenience, independence, and peace of mind to individuals and their loved ones.”
— Anthony Dohrmann, the visionary leader behind Electronic Caregiver
“We are delighted to be working with such a high-quality, innovative company as the Electronic Caregiver. The proceeds from this round will help Electronic Caregiver rapidly exploit their first mover advantage across multiple markets and provide reliable and engaging service to their customers.”
— John Adams, Managing Director CMD Global
