Providence-based Healthtech startup Intus Care was built, in 2019, around preventive care and the idea that if patients are treated early enough it could save providers piles of money and reduce inpatient admissions.
Thanks in part to successes supporting PACE (Program of All-inclusive Care for the Elderly) and Medicare-Medicaid integrated programs across seven states, Intus recently closed on another round of investment fundraising, bringing their total to $5.4 million.
Last week, Intus Care announced they had secured $3.1 million in funding to increase development of their data platform and team. The company also recently formed a strategic partnership with the National Pace Association.
According to Will Mims, director of market strategy at Intus Care, the company’s first fundraising round revolved around product/market fit and testing critical-use cases in early customers.
“This time around, we’ve well-defined those critical use cases and are ready to leverage them to have a larger impact on improving geriatric care and health equity through data,” he said. Investors this round included Preface Ventures, Jumpstart Nova and Collab Capital, Concrete Rose Capital, Brown Angel Group, Green Egg Ventures, and strategic angel investor Brynn Putnam.
Notably, Mims pointed out, Marcus Whitney, managing partner of Jumpstart Nova, and Jewel Burks Solomon, managing partner of Collab Capital, provided instrumental support for Intus Care’s mission.
Currently, there are 20 members on the Intus Care team, but Mims said the company is looking to use some of this funding to expand our team and facilitate growth, aiming to add around five to 10 more employees by the end of the year.
Mims said Intus’ biggest success came last year when they teamed up with a 60-patient Michigan-based PACE center. After building processes around the platform, the provider saved around $147,000 in three months, reducing their inpatient admission rate by 54%.
Moving forward, Mims said, partnering with the National Pace Association is a top priority.
“ We have great admiration for the work done by PACE, so being a pivotal part of the PACE Quality Playbook remains a priority for us,” he said. “But it’s also tremendously important to us to ensure that people living in nursing homes and long-term care facilities can benefit from the same quality of care advantages that our platform provides.”
Over the next year, we’ll be focusing on growing partnerships with these types or organizations, as well. We look forward to building more relationships in these markets and similarly empowering their teams to provide the best care possible and improving organizational efficiency.
