Digital wound care provider nabs $11.6M in funding

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A Toronto startup, looking to revolutionize wound care, just got a big boost in its expansion efforts.

Swift Medical recently announced that it has earned $11.6 million in funding, which will help to fuel its goal of being used across North America. The smartphone-based care aid helps clinicians to measure wounds, without touching the resident or using extra accessories. Already, it's been adopted in more than 1,000 long-term care and other types of facilities.

“This growth funding enables us to expand our reach and bring Swift's solution to every bedside in every hospital and care facility,” Carlo Perez, co-founder and CEO of Swift Medical, said in a press release. “There are more patients worldwide suffering from chronic wounds than from lung cancer, breast cancer, colon cancer and leukemia combined. By augmenting the abilities of clinicians and facility administrators to deliver the best possible wound care management, we're helping them heal over 10,000 patients a month. And we're just getting started.”

As Perez noted, wounds are a crucial issue for long-term care pros, and that is only likely to snowball as the population continues to age. One study of Medicare data, Swift Medical notes, found that chronic wounds affect about 8.2 million patients in the U.S., representing at least $32 billion in annual spending.