M&A and Financing Newsflash: AccentCare Acquisitions, Swift Medical Raises $11.6 Million

AccentCare Makes Two Acquisitions in Texas

Dallas-based AccentCare, Inc. has added to its growing client base by acquiring Community Connection Home Health’s personal care services segment and Q & A Health Services.

The two acquisitions will likely add about 400 new clients, AccentCare told HHCN via email. The company declined to disclose the purchase price.

Community Connection Home Health’s personal care services segment and Q & A Health Services both serve clients in Desoto, Texas, a suburb of Dallas. Moving forward, both entities will assume AccentCare’s regional brand name, Texas Home Health.

AccentCare currently operates in more than 150 locations across 11 states. In addition to Texas Home Health, its other brands include AccentCare, AccentCare of New York, Alliance For Health, Guardian Home Health & Hospice, Nurses Unlimited and Sta-Home.

Swift Medical raises $11.6 million 

Toronto-based Swift Medical has secured $11.6 million in Series A funding, the digital wound-care management company recently announced.

Palo Alto, California-based Data Collective led the fundraising round, which also included participation by Montreal-based Business Development Bank of Canada and Real Ventures, along with Toronto-based Relay Ventures. DHVC, also based in Palo Alto, was also active in the early-stage fundraising round.

The funding will largely be used to expand Swift Medical’s reach and further increase its presence in hospitals and care facilities, as well as in home health settings, across North America, according to the company. More than 1,000 health care facilities currently use Swift Medical’s services to help monitor more than 100,000 individual beds.

Unlike traditional measuring techniques that use rulers or acetate tracings, Swift Medical leverages smartphone-ready software to evaluate wounds and reduce patient discomfort.

“Worldwide, the global population of those age 60 and over is expected to double by 2050, and we know that home care will be an essential component of long-term care in cities around the world,” said Carlo Perez, CEO of Swift Medical, in an email to HHCN. “Our technology was thoughtfully designed to require only a smartphone and, in the future, we believe it will become a standard tool in home care.”

Swift Medical has partnered with electronic health record provider PointClickCare, which is making a big push into the home health space.

Contessa Health announces new funding

Contessa Health Inc., based in Nashville, announced last week that it has raised an undisclosed amount of additional financing.

San Francisco-based Health Velocity Capital led the round of additional financing, Contessa Health Inc. said in the announcement. BlueCross BlueShield Venture Partners, Noro-Moseley Partners and Sandbox Advantage Fund — all existing investors — also participated.

Founded in 2015, Contessa Health is striving to bring hospital inpatient-level care into patients’ homes, predominately through the use of its proprietary health informatics platform.

“Research shows that eligible patients who choose inpatient care at home experience equal or better outcomes, but at lower costs and higher patient satisfaction,” said Health Velocity Capital  Managing Partner Bruce Crosby in the announcement. “We believe this is an investment in which we can leverage our relationships to help Contessa to continue to drive growth and value, funding the demand for Contessa’s Home Recovery Care models.”

Health Velocity Capital exclusively invests in health care software and service companies. Its past investments have included Teladoc, Change Healthcare, Compassus and OnShift, among several other companies.

Written by Robert Holly

Robert Holly

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