Healthsense Closes $10 Million Financing With Boston-Based Mansa Capital
Already a Leading Player in the Remote Monitoring Technology Space, New Capital Will Support Healthsense's Expansion Into Managed Care and Other High-Demand Healthcare Sectors
BOSTON, Mass. and MINNEAPOLIS, Minn., August 19, 2014-- Healthsense,® Inc., the fastest growing provider of technology-enabled care solutions for the senior care continuum, announced today that it has closed on $10 million in financing led by Mansa Capital, a Boston-based private equity firm focused on the $2.8 trillion U.S. healthcare market. Previous investors Merck Global Health Innovation Fund and Radius Ventures LLC also participated in the round.
"Mansa Capital possesses exceptionally strong relationships that Healthsense can leverage to expand our reach into the managed care and home health markets, where we see major growth opportunities. This is an ideal complement to our thriving senior living business," said Healthsense President and CEO A.R. Weiler. "Mansa Capital's involvement will extend the exceptional benefits we have realized from previous investments with Merck GHI, Radius and B.C. Ziegler and Company, influential investors whose market knowledge and resources have helped us achieve our continued growth and success."
With Healthsense's growing focus on helping managed care organizations optimize care, the firm has deployed several pilot programs within the last year including partnerships with Humana Cares/Senior Bridge, Fallon Health, and various others. Early program results suggest a positive impact of the Healthsense eNeighbor® remote monitoring platform on improving care outcomes for those with chronic health conditions by providing earlier interventions and readmission rate reductions in various care environments.
"We seek to engage with companies that demonstrate both strong growth potential and the ability to advance the healthcare industry's Triple Aim of improving care, reducing costs and enhancing the patient experience," said Mansa Capital Managing Partner and Chief Investment Officer Ruben King-Shaw Jr., who will join the Healthsense Board of Directors. "Healthsense embodies all that we look for when considering an addition to our healthcare portfolio, particularly given the ever-increasing industry focus on managed care."
Headquartered in Boston, Mansa Capital invests primarily in high-growth healthcare services and technology companies with experienced management teams, sound business franchises and substantial potential. The healthcare private equity investment firm seeks to develop companies that deliver advances in cost-effective care, demonstrate potential for strong organic revenue growth, and exhibit attractive margins as well as high returns on capital.
About Healthsense, Inc.
Healthsense is the fastest growing provider of technology-enabled care solutions for the senior care continuum. With a full range of remote monitoring, emergency response and wellness management solutions, Healthsense helps senior care providers and managed care organizations significantly reduce costs, increase independence and enhance caregiver and senior experiences. Built on a wireless platform, Healthsense products are scalable and enable flexible technology-enabled care designs that help in the delivery of the highest quality care across the entire care continuum. Visit www.healthsense.com for more information.
About Mansa Capital
Headquartered in Boston, Mass., with offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the U.S. including Puerto Rico and the U.S. Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital's principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market. Visit www.mansancapital.com for more information.
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