– USA, CA – Aligned TeleHealth, Inc., a leading healthcare company that provides full, end-to-end telemedicine solutions, including psychiatric specialty physician consultations to acute-care hospitals, emergency rooms, skilled nursing facilities, and correctional institutions, today announced that it has raised $12 million in Series A financing from Boston-based SV Life Sciences (SVLS), an international life sciences venture capital firm.
This is Aligned TeleHealth’s first institutional financing, which will help fuel the company’s growth trajectory in behavioral health as it continues to address the increasing needs of an underserved patient population, as well as a healthcare system in search of innovative solutions.
“Aligned TeleHealth is experiencing rapid growth for its telemedicine services, helping reduce wait times for patients, improve patient outcomes and lower costs in both acute and post-acute settings,” said Michael Balmuth, Partner of SVLS. “Our investment will help Aligned TeleHealth continue to scale their solutions to become a leader in telemedicine and hospital services.”
Balmuth, as well as SVLS’ Chairman, Gene Hill, have joined Aligned’s board of directors with this investment.
Aligned TeleHealth’s telemedicine solutions currently serve hospitals, health systems and skilled nursing facilities throughout four states, with patient encounters increasing nearly 100 percent year-over-year to 120,000.
“This funding will allow us to further expand our solutions among providers throughout the U.S. as more physicians and facilities turn to our high-quality easily deployable telemedicine solutions,” said Nitin Nanda, M.D., chairman and chief executive officer of Aligned TeleHealth. “Additionally, SV Life Sciences’ dedicated focus on healthcare, expertise and network of industry relationships add value beyond the capital itself.
“Aligned TeleHealth is well positioned to continue to help patients gain access to high-quality healthcare, enable more psychiatrists to see patients, and provide acute and post-acute facilities with a highly flexible solution to address a variety of needs,” Dr. Nanda added.
Additional investors in Aligned TeleHealth include Aligned’s board member, Deepak Chopra, who is also chairman, chief executive officer and founder of OSI Systems, Inc., a Hawthorne, Calif.-based designer and manufacturer of specialized electronic systems and components used in healthcare, among other industries.
About SV Life Sciences
SV Life Sciences is a leading, international healthcare venture capital firm. SVLS affiliated funds have been investing in healthcare companies since the early 1980s and the Firm closed its first dedicated life sciences fund in 1994. SVLS’ team of 35 professionals is organized according to experience and specialization into three practice areas: Biotechnology, Medical Devices, Healthcare Services, and Healthcare IT. These individuals’ diverse and complementary skill sets and experiences enable SVLS to tailor an investment team for almost any healthcare business. SVLS employs a close symbiosis between operating and financial professionals which has led to significant success over five investment funds. SVLS has offices in Boston, London and San Francisco.
About Aligned TeleHealth, Inc.
Aligned TeleHealth is a fast growing healthcare company that provides full, end-to-end telemedicine solutions, including psychiatric specialty physician consultations to acute-care hospitals, emergency rooms, skilled nursing facilities, and correctional institutions via interactive, two-way, real-time, video telecommunication, which is a reportedly $3 billion addressable market. The company’s solutions address the growing need for acute and post-acute settings to reduce lengths of stay, improve quality of care scores and treatment outcomes, as well as create unique and flexible career opportunities for physicians through telemedicine technologies. The company is headquartered in Calabasas, Calf.
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