CareTrack Health, a fully integrated patient adherence system, is proud to announce that it has received $2.5 million in funding from Hybrid Capital Partners. CareTrack will use this investment to broaden its reach to help primary care practices prevent hospitalizations, close patient adherence gaps, improve quality measures and drive more proactive health screenings and services adoption.
“The entire CareTrack Health team is thrilled that our patient adherence platform has received the resources to grow and keep patients healthier while benefiting doctors and practice staff,” CareTrack Co-founder and CEO Andrew Mills said. “We are proud to see that Hybrid Capital is helping us expand our services and resources needed for practices to provide the best care available for Medicare patients across the country.”
This funding followed a 24 percent growth year-over-year and established a new office building nearly 10 times the original office size in Carrollton. The company has already started its aggressive employee hiring initiative to support newly acquired customers ranging from large medical practices serving Medicare patients to assisting patients in nationally reaching, proactive health improvement programs.
“CareTrack Health and Hybrid Capital are a great fit for each other, and our team is excited to support CareTrack’s current and future growth,” Hybrid Capital General Partner Jason Scherr said.
Hybrid Capital Partners is a founder-friendly venture investment firm focused on software and technology-enabled services companies. Having invested $50 million across 14 technology companies since 2017, Hybrid Capital is comprised of entrepreneurs helping entrepreneurs access better capital.
CareTrack’s patient adherence solution offers many benefits for its clients, such as improving patient out-of-office adherence, maintaining provider control of the care plan, reducing surprises for providers, improving quality of care by increasing consistency of plan adherence, and fully utilizing and providing greater staff support.
For more information about CareTrack Health, please visit www.caretrack.com.