Savoy Life: Virtual Care Coordination Company Secures $3 Million In Pre-Seed Funding

By Amit Chowdhry ● Oct 4, 2023

Red Cell Partners – an incubation firm building rapidly scalable technology-led companies that are bringing revolutionary advancements to market in national security and healthcare – recently announced $3 million in pre-seed funding for Savoy Life, a virtual care coordination and delivery platform created to improve care quality and access for seniors and adults with disabilities living in residential community care facilities.

Built from the ground up to scale and serve even the hardest-to-reach assisted living communities, Savoy Life emerged from stealth to empower community managers, caregivers, and those closest to residents to deliver high-quality, comprehensive, and personalized care. And Savoy Life does this via a suite of offerings (all delivered virtually) aimed at elevating the standard of care inside thousands of residential care communities across America.

Savoy Life was launched by Peter Emigh, who has spent his career working with underserved, ill, and vulnerable seniors, witnessing firsthand the systemic issues that contribute to critical gaps in care and result in sub-optimal health outcomes.

The pre-seed funding from Red Cell Partners enables Savoy Life to launch its initial offerings, which include three distinct products designed to improve assisted-living operations and empower caregivers to deliver high-quality care. And the first product is Savoy On Demand, which delivers an end-to-end, integrated move-in platform to improve occupancy rates and lower the cost of acquisition along with a compliance solution to address gaps, improve compliance plans, and reduce administrative burden to community staff.

The second offering, Savoy Clarity, integrates remote sensing and monitoring technology inside communities with AI and a virtual back-office nursing team to help communities identify rising risks, appropriately adjust levels of care, take action to mitigate avoidable adverse events, and extend length of stay to improve occupancy and lower resident turnover.

And the third offering Savoy Care provides communities with a true clinical partner that can quickly and seamlessly fill the care-coordination and care-delivery needs inside any community, including geriatric primary care and geriatric psychiatry.

KEY QUOTES:

“With more than 10,000 seniors aging into Medicare every day and access to primary care services on the decline, it is critical that we devise and deploy innovative solutions that not only address the growing demands on our already-strained healthcare system, but that also provide seniors with the kind of care that allows them to age in place with the support they deserve. Savoy Life was created to be that solution.”

— Grant Verstandig, Red Cell Founder, Chairman, and CEO

“Make no mistake, most owners, operators, and caregivers in long-term care (LTC) are in this business because they are mission-driven and possess deep compassion for the residents who live in their communities. But they are increasingly challenged to care for more frail and clinically complex residents than ever before and the healthcare system has simply not evolved to adequately meet the needs of these operators or their residents. It is this disconnect that has contributed to poor resident outcomes and weaker business performance for communities. Savoy Life was designed to address this root issue and to be the dependable health care partner that long-term care communities need.”

“Through our virtual care platform, we will enable a new paradigm in long-term care where the baseline quality of life is significantly improved for seniors and disabled adults. Improved health outcomes are what operators and owners of these communities want and what their residents deserve. With our help, that’s what they will get.”

— Peter Emigh