NEW HAVEN, Conn., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Wellinks, the industry leader in virtual-led cardiopulmonary care, announced today it has acquired Spire Health in a non-cash transaction. The acquisition merges Spire’s novel patient monitoring technology with Wellinks highly specialized virtual-led cardiopulmonary care model creating a first of its kind fully integrated Predictive Patient Care company. As part of the agreement, Wellinks welcomes to the board of directors Mr. Rich Wilmot who will represent Spire’s majority investor Gilde Healthcare.
“By combining these companies, we are now at the forefront of applying predictive analytics to the clinical care of cardiopulmonary patients,” said Wellinks Chairman and Managing Partner of HighCape Capital, Kevin Rakin. “With this acquisition, Wellinks can now offer payors and providers a new means of managing COPD and CHF patients, utilizing patient data, predictive analytics, and highly specialized treatment pathways, all within our Predictive Patient Care model.”
Rich Wilmot, Partner HealthTech Venture & Growth at Gilde Healthcare commented, “We are eager to see the potential of combining these two companies, their technologies and outstanding people. Since our initial investment in Spire Health, we’ve recognized the medical need and business potential to bring a more data-driven approach to managing highly complex patients with cardiopulmonary conditions. We believe this combined entity will realize this potential through a highly integrated patient care model and are delighted to be part of this exciting endeavor.”
COPD and CHF impact 14.2 million and 6.5 million people respectively in the United States creating two of the greatest care and cost challenges in the U.S. healthcare system. Wellinks’ Predictive Patient Care utilizes advanced predictive analytics to equip providers with information and clinical interventions designed to identify potential exacerbations and costly complications from these conditions before they rise to the level of emergency care and/or hospitalization. With early intervention most patients will remain at home or seek treatment from their primary healthcare professional in a much more clinically effective and cost-efficient setting, ultimately improving care while significantly reducing the costs. This approach holds great potential for reducing costs and improving outcomes for payors and providers in both the Value-Based-Care and Fee-For-Service markets.
“We are thrilled to welcome Spire professionals into our organization, while also adding their amazing technology into our care models,” said Stacie Bratcher, CEO of Wellinks. “By uniting these companies, we are creating something entirely novel — Predictive Patient Care. Wellinks will now be able to passively monitor cardiopulmonary patients while leveraging machine learning to predict potential complications, often before the patient experiences symptoms. These findings, combined with our proprietary clinical processes will then provide payors and providers suggested interventions based on validated treatment pathways. This highly integrated approach to monitoring and treating cardiopulmonary patients will be a first of its kind.”
About COPD and CHF costs
Chronic Obstructive Pulmonary Disease (COPD) and Congestive Heart Failure (CHF) cost the U.S. healthcare system $24 billion and $49 billion, respectively, each year. The majority of these costs are driven by exacerbations that often result in emergency department (ED) visits and hospital admission. For example, 47% of COPD patients will experience one or more exacerbations annually, and of those who are hospitalized, 30% will readmit within 30 days and 64% will readmit within 12 months. Similarly, 50% of CHF costs are driven by ED visits and hospitalizations. Each hospital admission can cost as much as $14,000.
About Predictive Patient Care
Predictive Patient Care is a patient management approach that integrates patient data, AI-enabled analytics, predictive models and evidence-based care to identify complications and intervene at the right time with the right patient.
About Wellinks
Founded in 2012 and headquartered in New Haven, CT, Wellinks has a rich history of innovation in cardiopulmonary care. From pioneering the development of a portable, connected nebulizer to now spearheading advancements in Predictive Patient Care, Wellinks remains at the forefront of healthcare innovation. Our cutting-edge data collection, analysis, and intervention model empowers clinicians to predict and prevent adverse events across a spectrum of cardiopulmonary conditions. By reducing complications, enhancing patient outcomes, and lowering healthcare costs, Wellinks is transforming the future of care delivery. For more information, visit www.wellinks.com and follow on LinkedIn.
About Spire Health
Spire Health is the leading digital healthcare company for continuous respiratory monitoring and actionable feedback. The Spire Health Tag enables remote patient monitoring with unparalleled adherence and clinical-grade accuracy. Spire Health’s remote patient monitoring approach has the potential to identify and predict health events, enable early interventions, and prevent hospital admissions. For more information visit: spirehealth.com
