CoPilotIQ, a remote health monitoring company, has acquired home care solutions company Biofourmis with the goal of providing home care across the spectrum, from pre-surgical optimization to acute, post-acute and chronic care.
Nashville-based CoPilotIQ said the combined AI-powered platform will create a “single pane of glass” solution through which enterprise customers will be able to observe patients throughout the entire care continuum through a technological integration, a safety audit, simplified procurement and a better patient experience.
Launched in 2021, CoPilotIQ said hospitals and payers are struggling with an overwhelming level of complexity and cost to manage the multiple point solutions needed to provide the necessary suite of home care. This combination is designed to solve these problems.
“Our mission is to redefine the future of healthcare delivery, extending care to the comfort of patients’ homes and driving better health outcomes, at the lowest possible cost to the system,” said David Koretz, CEO of CopilotIQ. and based in Boston. Biofourmis, the newly merged entity, in a statement. “This merger is an important step toward realizing our vision of transforming healthcare from reactive treatment to proactive prevention, and from widespread care to deeply personalized, data-driven care.”
Biofourmis’ capabilities to support the delivery of complex care to their patients at home by health systems, payers and life sciences companies with FDA-cleared algorithms and technology will be further expanded upstream and downstream when combined with CopilotIQ, the companies said.
Terms of the agreement were not disclosed. But as part of this combination, investors from both companies, including General Atlantic, Openspace Ventures and Bessemer Venture Partners, are investing in the combined business.
An example of how Biofourmis solutions are used is by 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 home hospitalization initiatives, in collaboration with Biofourmis.
Biofourmis’ RPM platform replaced UCI Health’s former remote patient monitoring system and continues to monitor appropriate patients after their discharge.
“Leveraging 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 their progression through our hospital system to help transform care, using technology as an enabler.”
Vital signs and other biometric data are collected within UCI Health’s Epic EHR system and analyzed using Biofourmis AI algorithms. According to the company, the AI establishes a personalized baseline for the patient using data collected from wearable biosensors and patient-reported electronic results. When the baseline is compared to population-level data, AI creates a reliable, real-time view of the 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.
