LAS CRUCES, New Mexico, October 24, 2022 — Electronic Caregiver (ECG), a leading provider of digital health technologies and services, announced today the successful completion of its newest investment round, which received an additional USD 30 million plus warrant exercise for a total of USD 42.5 million. Recurring investors contributed more than 90% of the money.
Due to expanded offerings and significant demand for digital health solutions, ECG has seen a 669% compounded annual growth rate (CAGR) over the last three years. ECG was recently ranked 968th on Inc. Magazine’s annual Inc. 5000 list, the most renowned rating of America’s fastest-growing private firms.
“We are pleased to be named one of America’s 1,000 fastest-growing firms. We are quickly establishing ourselves as the unchallenged leader in digital home health technology, “ECG President Joe Baffoe stated. “By delivering real-time actionable data, we connect individuals to their care teams, allowing them to avoid escalation and thrive in their own homes, where they uniformly want to be.”
ECG has been approved as an Amazon Web Services (AWS) Partner Network technology solution provider. Remote patient monitoring (RPM) and Chronic Care Management services, a new 3D Virtual CaregiverTM called Addison, improved medical alerts, and telehealth solutions are among the company’s breakthrough technologies. The firm just launched its certified ADDI telehealth platform, a scalable Platform-as-a-Service (PAAS) based on AWS.
The business believes its next round of fundraising will be valued at USD 560 million, with an additional USD 100 million raised. The fresh funds will significantly increase ECG’s revenues and client base, paving the way for an IPO within the next 24 months. The firm has raised USD 120 million in total, consisting of USD 110 million in stock and USD 10 million in debt.
“ECG’s ability to navigate the pandemic and perform at hyper-growth at this tough period has been both exciting and substantial, said investor and President of PetroYates, Inc. Harvey Yates, Jr. We have backed the firm through previous rounds and look forward to supporting them when they go public and ring the NASDAQ bell.”
Electronic Caregiver, founded in 2009, is a privately held digital health technology and services firm based in Las Cruces, New Mexico. The objective of Electronic Caregiver is to create and provide new, effective telehealth products and services that bridge the gap between the doctor’s office and the patient’s home to enhance results, extend access, and optimize resource allocation. Electronic Caregiver has been approved as an AWS (Amazon Web Services) Partner Network technology solution provider.
The company’s solutions are available through healthcare organizations, physician practices, care management businesses, home care agencies, and senior housing providers to supply hospital-at-home, chronic care management, and remote patient monitoring programs.
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