Funding Will Help the Company Create a Software as a Service (SaaS) Platform and Expand its Sales & Marketing Team
HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced its investment in IronRod Health (the “Company”), an innovative remote health monitoring platform. Terms of the investment were not disclosed. D.A. Davidson & Co. served as exclusive financial advisor to IronRod Health for the financing and VLP Law Group LLP served as the Company’s legal advisor.
Since its founding in 2016, IronRod Health has helped over 20,000 patients receive dedicated care from their providers beyond the four walls of the practice. The Company has three main remote monitoring revenue lines, all focused on the cardiology space. IronRod Health combines trained technicians with state-of-the-art software to offer a complete healthcare solution that sends actionable insights to healthcare providers. The Company also delivers billing and alert reports directly to electronic medical records and helps establish efficient workflows for their providers’ practices.
As the COVID-19 pandemic prevented patients from visiting their providers in-person, cardiologists and patients increasingly began to adopt virtual health. In addition, an aging population combined with rising rates of chronic illnesses further highlight the value of the remote health solution that IronRod provides. With the new financing, the Company is well-positioned to take market share in the growing remote patient monitoring industry.
“IronRod is a leader in the cardiology sector for remote patient monitoring and has a great reputation in the market,” commented Nicolas Lopez, Principal at HCAP Partners. “The Company offers the only end-to-end automated solution for patient monitoring, insurance verification, and billing support, and we believe that there is significant opportunity for IronRod to support a large population of patients, specifically those facing heart complications. We look forward to working with the IronRod team and supporting the Company’s growth.”
“We are excited to partner with HCAP to begin this next stage in our company’s growth,” stated Andrew Nash, Founder and CEO of IronRod. “With this new capital, we can deliver advanced service to our customers, elevating the level of health care for thousands of patients.”
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