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AvaSure pioneered the TeleSitter approach as a fall-prevention method in 2008, and it has since become a staple for patient care, with locations in the top 10 U.S. health systems and 826 hospitals across 48 states and Canada.
FREMONT, CA: AvaSure, a leading provider of inpatient audiovisual monitoring telehealth solutions, has declared that it has closed on a significant equity financing from the Growth Equity team in Goldman Sachs Asset Management and Heritage Group. The terms of the investment were not disclosed, but AvaSure intends to use the funds for growth initiatives such as expanding its robust suite of solutions, AvaSure 360TM, to meet all inpatient telehealth needs. AvaSure's exclusive financial advisor was Incentrum Group.
AvaSure pioneered the TeleSitter approach as a fall-prevention method in 2008, and it has since become a staple for patient care, with locations in the top 10 U.S. health systems and 826 hospitals across 48 states and Canada. AvaSure's TeleSitter solution enables a single qualified hospital employee to track up to 16 patients at the same time, avoiding not only falls but also elopement, abuse against caregivers, and other negative incidents.The TeleSitter approach acts as a workplace multiplier to improve staffing efficiencies and has been shown in clinical studies to be a superior intervention for patient safety.
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"AvaSure's growth has increased substantially year-over-year, and we are proud to be partnering with top-tier investors who can provide our company with an added bench of expertise as we seek to scale and build on our success," stated AvaSure CEO Brad Playford. "The COVID-19 pandemic increased both the demand and the acceptance of telehealth solutions. While no one was fully prepared for the changes brought by the pandemic, AvaSure was extremely well positioned with its virtual technology that continuously supports patient care, safety, and outcomes with unmatched reliability and scalability."
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