DENVER, Oct. 15, 2020 /PRNewswire/ — Routinify, the technology-based, remote healthcare solutions company, announced today its first quarter of revenue generation through a series of paid trials with organizations and academic campuses throughout Colorado. These trials have helped to provide proof of concept and acceptance of the innovative technology throughout the healthcare industry.
«Today, in the U.S. alone, over 52 million people are age 65 or older, according to 2018 U.S. Census estimates, and 80 percent of those seniors are living with multiple chronic conditions,» said Pat Kelly, CEO and founder of Routinify. «While today’s telemonitoring solutions and mobile apps can help with one condition, Routinify can be fully customized to match each user’s specific healthcare needs. We are thrilled to have partnered with healthcare groups throughout the area, and we look forward to simplifying life for the millions of seniors living in assisted living facilities, hospice agencies, and at home across the country.»
Routinify utilizes the Internet of Things to provide comprehensive care for seniors and those with in-home or remote care needs through their WellAssist™ program. The WellAssist™ program collects real-time data from wearable and medical devices, as well as in-home sensors and the patient’s own interaction with the at-home devices. Together, this information is utilized to create a fully customizable, holistic solution that allows 24/7 engagement between the aging family member, the family, and any additional caregivers. The system can be used to monitor a refrigerator door for eating habits, manage medications and appointments, and even Zoom meetings between patient, caregiver and doctor.
This past quarter, Routinify started to create revenue through its partnerships with a number of healthcare groups, including the University of Colorado Anschutz Medical Campus, the physician practices of PrimeHealth and Colorado Telehealth. Routinify has also partnered with the University of Colorado School of Medicine where the program will expand beyond its use as a solution for families and caregivers, and will be utilized as a research tool to help measure the role of telecare in different environments, including palliative care. Some trials have already been performed, with further testing scheduled for the end of 2020 and into the spring of 2021.
«The partnership between Routinify and the University of Colorado is an excellent example of how an industry and academic partnership can work extremely well,» said Jennifer Portz, palliative care researcher at the University of Colorado School of Medicine. «Together, we have been able to, not only work towards creating the best and most innovative tools to help increase the quality of life for seniors, but we are also able to validate the progress of those tools through our trials.»
In addition to its academic partnerships, Routinify continues to expand its focus through a joint technical development with The Medicine Shoppe (a Cardinal Health company) pharmacy chain, which will enable the integration of the pharmacy into Routinify’s WellAssist™ program and expand the company’s market reach.
Earlier this year, Routinify received a $1.5 million equity investment from Resolute Capital Partners, the private equity firm which helps to facilitate the growth of proven and high-potential, early-stage companies in the areas of fintech, regtech, and healthtech.
Routinify was founded to help aging people live safe, healthy and happy lives. Routinify’s WellAssist™ platform and products empower people living at home or in assisted care facilities by employing easy-to-use wearable technology and smart displays to monitor and assess things like mobility, heart rate, hydration and social engagement, while also serving as a reminder to the aging person to take their medications. This information can be shared with families and caregivers to provide a 24/7 view of an aging person’s health and wellbeing.
To find out more, visit www.routinify.com.
About Resolute Capital Partners
Resolute Capital Partners («RCP») is a private equity firm with offices in San Francisco, Dallas and Minneapolis, that employs a seasoned executive team which has placed more than $3 billion in institutional-grade and private securities investments throughout their careers. RCP contributes professional expertise and multi-level support towards companies that help them realize their vision in structuring transactions, and offers proven management techniques that yield flexibility and opportunity. Since its founding in 2010, RCP has raised over $230 million in its various energy, technology, and real estate funds. By partnering with issuers beyond Wall Street, RCP is bringing capital to worthy projects.
For more information, please visit www.resolutecapitalpartners.com.
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SOURCE Resolute Capital Partners