Geneva Healthcare
It's solution helps clinicians quickly understand basic elements about the device and take information from it to make decisions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
* | $65.0m Valuation: $65.0m | Acquisition | |
| Total Funding | 000k | ||
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Geneva Health Solutions, founded in 2011 by cardiologist Dr. Manish Wadhwa and technologist Kai Worrell, operates in the HealthTech and SaaS verticals, focusing on remote cardiac monitoring. The company's core offering is a proprietary, cloud-based platform that aggregates data from implantable cardiac devices, such as pacemakers, defibrillators, and loop recorders, from all major manufacturers. This provides physicians and electrophysiologist practices a single, unified portal to manage the high volume of patient device data, which streamlines clinical workflows and enhances patient care.
The business model centers on providing this platform as a technology-enabled service to cardiology practices. This approach is designed to improve in-office efficiencies, support patient compliance with monitoring protocols, and optimize billing processes. The platform's capabilities include aggregating remote monitoring data, automating scheduling and billing, and integrating with over 14 different electronic medical record (EMR) systems like EPIC, Allscripts, and NextGen. By collating and filtering the data deluge from cardiac devices, the system presents actionable alerts and meaningful reports to clinicians, helping them to more effectively manage the rising number of patients with diagnostic cardiac implants.
Prior to its acquisition, Geneva Health Solutions had successfully raised approximately $9.95 million in funding from investors including Nebraska Medicine, Lateral Capital, and Bootstrap Venture Partners. A significant milestone was its acquisition by BioTelemetry in January 2019 for an upfront consideration of $45 million, with potential performance-based earn-outs. At the time of the acquisition, the company served over 50 cardiology practices. The merger aimed to combine BioTelemetry's leadership in remote cardiac outpatient monitoring with Geneva's specialized platform for implantable devices, creating a more comprehensive connected health solution in the cardiology market.
Keywords: remote cardiac monitoring, implantable cardiac devices, HealthTech, SaaS, data aggregation platform, clinical workflow, electrophysiology, patient data management, cardiac device data, medical device integration, pacemaker monitoring, defibrillator data, EMR integration, telehealth monitoring, cardiology practice solutions, BioTelemetry, remote patient monitoring, cardiac care, connected health, healthcare data analytics