Finance • 9th May, 23
From Home Healthcare News: Joyce Famakinwa
Resilient Healthcare has raised $10 million in funding. In tandem, it bought out Mezas Capital Group in a cash-plus-debt deal.
The company was able to achieve this round of funding – and buy out its initial capital partner – through angel investors, a group that included veterans, technology executives, health care leaders and members of its own clinical team.
“[These investors] span across the health care provider industry, as well as the technology industry, as well as having the business areas needed to actually grow this,” Resilient CEO Jackleen Samuel told Home Health Care News. “We brought on the correct kind of partners that are experts in each one of those, so that we can provide the safest, most efficient, most effective care to the most amount of patients.”
Resilient is a Plano, Texas-based home-centered management services organization that partners with both payers and hospitals to enable them to provide high-acuity care.
In its arrangements with payers, Resilient provides care leveraging its software Taxi Health.
The new funding represents an overall shift in the company, according to Samuel.
“As we started growing Resilient, we became more of a technology company,” she said. “We realized there was a gap in high-acuity care technology. We started refocusing a lot of our efforts on building up that software. As we did that, we realized we wanted to refocus our company’s energy into that same model of scaling software.”
The new funds will help accelerate the company’s restructuring efforts.
“We have some strategic partnerships with other devices, and so we’re able to do continuous monitoring in real time,” Samuel said. “We’re able to do cloud-based ECGs now, and we’ve interfaced that into our software.”
Additionally, some of the funds will also be earmarked for operating expenses.
Resilient’s new direction also offered the opportunity for clinicians to become investors and to be partners.
“I was shocked that there was this kind of interest from our own staff, who said, ‘Hey, let’s do this. Let’s raise money,” Samuel said. “‘Let’s buy out Mezas Capital Group, let’s scale on a software plan.’”
Aside from the funding, Resilient has appointed Frank Amoruso chief operating officer and Marc Andiel as chief business officer.
Amoruso and Andiel will serve in these roles as the company prepares for an institutional funding round later this year.
“Frank and Marc have a lot of experience in this space,” Samuel said. “Marc has had a few exits already. He started a company from nothing, and Frank has taken companies from startups to multi-million dollar [entities], so it’s been a blessing to have so many experienced people on board.”
Looking ahead, Resilient plans to continue growing its clinical base components and partnering with new payers as it treats patients in their homes.