The deal, first announced in late March, is a “breakthrough solution for care transitions and coordination, by offering unprecedented efficiency in enabling complex layers of information to be shared and distributed,” said Adaptive Healthcare fund manager Larry Gill. “We believe it represents key ‘connective tissue’ that is missing from the healthcare landscape.”
Adaptive Healthcare Investment Committee co-chairman Harry Nelson joined the advisory board of LIfe Assist in connection with the investment. The investor’s support has been a “game-changer,” said LifeAssist CEO Val Ornoy.
“It has led us to broaden our thinking about applications for our device, to pursue promising strategic partnerships, and has also made us more attractive to other outside investors.”