Remote Health Monitoring Companies CoPilotIQ, Biofourmis Merge
CoPilotIQ, a remote health monitoring company, has acquired in-home care solutions company Biofourmis with the goal of delivering in-home care across the full spectrum from pre-surgical optimization to acute, post-acute, and chronic care.
Nashville-based CoPilotIQ said the combined AI-driven platform will create a “single pane of glass” solution by which enterprise customers will be able to observe patients across the care continuum via one technology integration, one security audit, simplified procurement, and a better patient experience.
Launched in 2021, CoPilotIQ said that hospitals and payers are struggling with an overwhelming level of complexity and cost to manage multiple point solutions required to deliver the necessary suite of home-based care. This combination is designed to solve these problems.
“Our mission is to redefine the future of healthcare delivery, by extending care to the comfort of patients’ homes, and driving improved health outcomes, at the lowest possible cost to the system,” said David Koretz, CEO of CopilotIQ and Boston-based Biofourmis, the newly combined entity, in a statement. “This merger is a major step toward realizing our vision of transforming healthcare from reactive treatment to proactive prevention, and from generalized to deeply personalized, data-driven care.”
Biofourmis’ capabilities in supporting health systems, payers, and life sciences companies’ delivery of complex care for their patients in the home with FDA-cleared algorithms and technology will be expanded further upstream and downstream when combined with CopilotIQ, the companies said.
Terms of the deal were not disclosed. But as part of this combination, investors from both businesses, including General Atlantic, Openspace Ventures, and Bessemer Venture Partners are investing into the combined business.
An example of how Biofourmis’ solutions are used involves UCI Health, the clinical enterprise of the University of California, Irvine. A few years ago, UCI Health said it was laying the groundwork for a virtual care platform for remote patient monitoring (RPM) and hospital-at-home initiatives, working with Biofourmis.
Biofourmis’ RPM platform replaced UCI Health’s legacy remote patient monitoring system and continue monitoring appropriate patients after their discharge.
“Building on our existing operational excellence, virtual care, and innovation strategies during the pandemic, we are focused on providing tools that allow our patients to recover in the comfort of their homes,” said UCI Health Executive Director of Virtual Care Susanna Rustad, in a statement. “We want to simplify our patients’ journey and streamline patient progression through our hospital system to help transform care, using technology as an enabler.”
Vital signs and other biometrics are collected within UCI Health’s Epic EHR system and analyzed through the Biofourmis AI algorithms. The AI establishes a personalized patient baseline using data collected from wearable biosensors and electronic patient-reported outcomes, according to the company. When the baseline is compared against population-level data, the AI creates a real-time, reliable view of disease trajectory. Machine-learning capabilities alert clinicians to opportunities that optimize treatment, predict decompensation, better engage patients, and ultimately identify and prevent serious medical events before they occur.
