“People couldn t spell telehealth four years ago,” Mercadante said.
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Ed Mercadante
Now his company, MediTelecare of Middletown, is growing at an organic rate of 10% to 15% a month, month over month. Revenues grew over 80% in 2020 and eight to 10 new people are hired a month. It’s expanding services into three new states this quarter for a total of 21.
All this growth reflects increasing demand for the company’s main service: virtual mental health care for patients in skilled nursing and assisted living centers. The COVID-19 crisis has both boosted demand for MediTelecare’s core services and validated its delivery system.
Health Enterprise Partners Announces New Investment and Organizational Changes
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NEW YORK, Feb. 3, 2021 /PRNewswire/ Health Enterprise Partners ( HEP ), a healthcare private equity firm, today announced the consummation of an investment in Aware Recovery Care, the ninth platform investment in its third fund, and a number of organizational changes.
Investment in Aware Recovery Care
On January 29, HEP announced an investment in Aware Recovery Care, a pioneer in the in-home addiction treatment space. The company will deploy this growth capital to support rapid expansion and increased access to high-quality, whole-person healthcare. Aware s In-Home Addiction Treatment (IHAT
HEP invests in Aware Recovery Care pehub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pehub.com Daily Mail and Mail on Sunday newspapers.
A private equity firm announced a “significant growth investment” on Friday in Aware Recovery Care, a Wallingford-based provider of in-home addiction treatment.
Health Enterprise Partners (HEP), a New York-based company whose investors include some of the nation’s largest health systems and health insurance plans, made the investment.
The undisclosed amount will fund the expansion of Aware s in-home addiction treatment program across multiple states and payors, according to the private equity firm, Health Enterprise Partners.
Aware’s main program, In-Home Addiction Treatment (IHAT), is a 52-week, home-based biopsychosocial curriculum that has been deemed highly effective by clients including Anthem Blue Cross Blue Shield of Connecticut. Anthem found that 60% to 70% of its members who followed Aware’s program achieved year-long abstinence from drugs and alcohol compared to less than 10% of those who attended residential treatment programs.