NASHVILLE, Tenn.– Caduceus Capital Partners has finalized its investment in UptimeHealth, a health technology company that simplifies medical device service events, purchases, and compliance practices through automation and predictive analytics.
Industry experts predict that, soon, most care will be delivered at home or through virtual, outpatient and other settings. This shift away from hospitals is spurred by advances in technology, new regulations, value-based payment models and consumer demand. UptimeHealth was developed to support this trend.
UptimeHealth’s software provides administrators and operators with the ability to manage compliance tasks, predict equipment repair and replacement needs, and tap into the largest network of qualified biomed technicians to service medical devices.
“Complex medical equipment requires daily, monthly, quarterly and yearly maintenance. While hospitals have full-time technicians on staff, that same staffing model doesn’t make sense for most other healthcare settings such as outpatient facilities, urgent care centers and dental facilities,” said Jinesh Patel, co-founder and CEO, UptimeHealth. “We offer a simple and effective way to support, optimize and automate equipment management.”
Founded in 2020, Caduceus Capital Partners invests in early-stage digital health companies that can make a significant impact on healthcare by expanding access, improving patient outcomes, reducing costs and enhancing the daily working lives of care providers.
“As healthcare is changing, we’re seeing more care move outside of the hospital. This is a positive trend for many reasons but comes with some pain points. UptimeHealth is providing a much-needed solution in the efforts to provide quality, lower cost care in these new care settings,” said Scott Kolesar, managing partner, Caduceus Capital Partners.
Eric Thrailkill, venture partner with Caduceus Capital Partners and founder, Allee Advisory Services, LLC, has joined UptimeHealth’s board of directors as an observer.
