HBox, a virtual care platform focused on specialty medical practices, said it has received a strategic growth investment from Charlesbank Capital Partners’ Technology Opportunities Fund II to support expansion of its AI-powered virtual care capabilities and broader initiatives aimed at high-risk chronic condition management. The transaction closed on December 17, 2025, and was announced December 19.
Based in Boston, HBox positions its offering as a “virtual clinic within a clinic,” combining software, connected medical devices, patient engagement tools, and care services to help specialty practices extend treatment beyond in-person visits. The company said the platform aggregates real-time vitals, patient activity, and clinical documentation into a unified system intended to help clinicians manage larger chronic patient populations while maintaining a high-touch care model.
HBox is led by co-founders BanuPrasad Dhanakoti, chief executive officer; Sandeep Subramanya, chief operating officer; and Mohammed Ali, chief revenue officer. The company said its customer base includes independent specialty practices across the U.S., with momentum supported by rapid customer growth and high patient compliance rates.
Charlesbank said it views preventative, continuous, and virtual care models as increasingly central to improving outcomes and managing healthcare costs, and that HBox’s blend of software, services, and specialty focus can help practices implement remote monitoring and virtual care programs without building the required technology and staffing internally.
Kaizen Equity Partners served as exclusive financial advisor to HBox and K&L Gates served as counsel. Brown Gibbons Lang & Company advised Charlesbank, with Mintz and McDermott Will & Schulte serving as counsel.
KEY QUOTES
“Today marks an important step forward for HBox and for the patients and clinicians we support.”
“For cardiac patients in particular, timely monitoring and personalized care plans can help prevent hospitalizations and provide families with greater confidence in day-to-day condition management.”
“With Charlesbank’s TOF team behind us, we can continue strengthening our offering and advancing a virtual care model that seeks to bring the cardiology clinic of the future into today’s specialty practices – enhancing quality and continuity of care without adding burden to clinics.”
BanuPrasad Dhanakoti, Chief Executive Officer, HBox
“Preventative, virtual and continuous care is the future of healthcare for both improving outcomes and managing costs.”
“We are excited to back Banu, Sandeep, Mo and the team as they continue to expand HBox’s innovative virtual ‘clinic within a clinic’ offering.”
Michael Zirngibl, Principal, Charlesbank
“Remote monitoring and virtual care are becoming standard in many specialties, yet most practices lack the technology and staff to run these programs on their own.”
“HBox’s combination of software, services and specialty focus positions the Company to be that infrastructure at scale.”
Hiren Mankodi, Co-Head, Charlesbank Technology Opportunities
