Closes on $2.7 million in funding, rebrands the company and adds new directors
SKOKIE, Ill.--(BUSINESS WIRE)-- Officials with Care Team Connect announced today several significant milestones that will position the company for growth in 2011. Care Team Connect offers hospitals, accountable care organizations and care management companies a care coordination platform aimed at improving transitions of care and reducing preventable readmissions, both key objectives of healthcare reform.
The company has most significantly finalized its $2.7 million Series A financing to support their rapid growth. The company’s funding was co-led by two strategic healthcare investors; The Martin Companies of Nashville, Tennessee and National Healthcare Services (NHS) of Orange County, California. The company’s existing note holders elected to convert into the fully subscribed Series A.
“The Martin Companies sees great potential in the Care Team Connect product and are proud to co-lead the company’s Series A funding,” said Hal Andrews of The Martin Companies. “Care Team Connect offers a unique platform that allows hospitals looking to easily coordinate care and reduce preventable readmission rates – and with recent health reform legislation, this is more important than ever before.”
Andrews and Brant Heise of National Healthcare Services will both join Care Team Connect CEO Ben Albert and Ralph Sabin on Care Team Connect’s Board of Directors.
“I am honored to join Care Team Connect’s experienced Board of Directors,” said Heise. “I look forward to working with Care Team Connect’s team to further grow the company in 2011.”
The company, previously known as Remcare, has officially changed its name to Care Team Connect. This is a result of their funding and 2011 strategic goals, which solely focus on growing the Care Team Connect product.
In addition, the company has recently added two new key leaders to their team. Dr. John Loughnane, a cross continuum care expert, joins the company as Medical Director, and Salman Khatri, an expert in “software as a service” (SaaS) architecture, joins as the Director of Technology.
“We feel very privileged to not only have raised money to support our plans for growth but to have attracted such talented Board members and colleagues to our company,” said Ben Albert, CEO of Care Team Connect.
“Care Team Connect is quickly becoming the leader in care team coordination platforms through our high value and implementable solution, and we plan to continue building out our team to support our forecasted growth,” added Albert.
ABOUT CARE TEAM CONNECT
To learn more, visit www.careteamconnect.com.
Care Team Connect
Carrie Kozlowski, 773-469-8381
KEYWORDS: United States North America Illinois
INDUSTRY KEYWORDS: Technology Data Management Software Health Hospitals