RALEIGH — Telehealth company CarePICS, which uses a technology-enabled virtual care platform to improve patient outcomes for those suffering from peripheral artery disease (PAD), completed an agreement this week to sell a minority state in the five-year-old, Raleigh-based company to Cardiovascular Systems, Inc. (CSI®) (NASDAQ: CSII).
The partnership deal also includes an acquisition option agreement.
“CarePICS is the connective tissue between collaborating physicians and their patients,” said CarePICS CEO Paul E. Schubert, in a statement. “Our platform provides effective multidisciplinary case management before and after vascular treatment. It produces a clear wound healing outcomes data set for all physicians involved throughout a patient’s care.”
The company aims to treat peripheral artery disease, which affects more than 18 million Americans, through a technology-enabled care management tool designed for the treatment of patients with this disease. The platform enables physicians to communicate and collaborate with each other and their patient through its secure iOS, Android and Web platform.
According to the company, doctors from across disciplines are using the platform can accelerate patient access to care by using telehealth consults before arterial or venous wounds begin to deteriorate, and can also be utilized by groups of physicians after a patient receives vascular treatment to support wound healing progress.
“As the leader in the treatment and study of patients with PAD and CLI, we are excited to announce our investment in a digital SaaS product and data driven solution designed to improve patient outcomes,” said Scott R. Ward, chairman, president, and CEO of CSI, Inc., in a statement. “We believe that CarePICS will accelerate patient access to the appropriate treatment at the right time, resulting in improved care and reduced amputations. Over time, the outcome data being gathered through the CarePICS platform across various providers, patients, treatments and care plans can become an industry-leading source of actionable, clinical insights and further improve patient care.”
Terms of CSI’s minority investment in CarePICS, LLC were not disclosed. CSI has an exclusive option to acquire the remaining equity in CarePICS, confirmed the company in a statement.