Advanced ICU Care Closes Funding Round

Advanced ICU Care, an independent provider of tele-ICU programs, has closed a new round of equity funding. The financing was led by Trident Capital and includes existing investors, Versant Ventures, Arboretum Ventures, and Catalyst Capital. John Reardon, managing director with Trident Capital, will join the Advanced ICU Care board of directors.

PRESS RELEASE

Advanced ICU Care, the nation’s largest independent provider of tele-ICU programs, today announced that it has closed a new round of equity funding. The financing was led by Trident Capital, Inc., and includes existing investors, Versant Ventures, Arboretum Ventures, and Catalyst Capital. John Reardon, Managing Director with Trident Capital, will join the Advanced ICU Care Board of Directors.

“Trident Capital is an experienced and knowledgeable health care investor. Their backing further validates the clinical value and financial impact of our ICU performance solutions,” said Mary Jo Gorman, M.D., M.B.A., chief executive officer of Advanced ICU Care. “We believe that the Advanced ICU Care model has the potential to transform healthcare. With expanded resources, we will be able to more rapidly deploy our solution in more hospitals and meet the increasing demand for our programs and services.”

“The Advanced ICU Care model of continuous patient surveillance, provided by board certified critical care clinicians using best of breed telemedicine technology, sets a new standard of performance in intensive care medicine,” said John Reardon, Trident Capital Managing Director. “The Advanced ICU care solution produces results and firmly positions the company as the answer to the cost, quality and capacity crisis in ICU’s today.”

Since its founding in 2004, Advanced ICU Care has grown rapidly as hospitals have experienced the benefits of its ability to transform care and financial performance in intensive care units (ICUs).

Increasing demand for ICU services combined with a shortage of intensivists, physicians trained in the care of critically ill patients, has made it difficult for hospitals to comply with the recommended standard of care; intensivist physicians continuously monitoring ICU patients 24 hours a day, seven days a week. Advanced ICU combines advanced telemedicine technology with the clinical expertise of experienced intensivists and critical care nurses to provide this continuous, around-the-clock coverage. The company also collaborates with the hospital ICU team in on-going process improvement to ensure compliance with the latest recommended clinical protocols for ICU care. As a result, patient care is significantly improved and best practices are consistently followed. The hospital experiences both operational and financial enhancements, and physicians, nurses and patients benefit from the constant availability of the intensivist physician.

About Advanced ICU Care

Advanced ICU Care (R), provides high-quality critical care to patients in the intensive care unit. Through experienced clinicians, supported by cutting-edge telemedicine technology and a process improvement program, Advanced ICU Care provides continuous ICU patient monitoring and improved care and safety outcomes to critically ill patients across the country. Hospital ICUs are linked with Advanced ICU Care’s Monitoring Center, allowing Advanced ICU Care’s board-certified intensivists (critical care medicine physicians) and critical care nurses to monitor hospital ICU patients from a central location.

About Trident Capital

Trident Capital is a leading venture capital firm with more than $1.9 billion of capital under management, including its most recent fund, Trident Capital Fund VII. Trident invests in Software, Internet and Business Services companies across multiple stages, from early startup to venture growth. Trident has substantial investment experience, sector expertise and operating skills together with broad networks of entrepreneurs and industry executives. The firm has helped build large numbers of successful companies within its areas of focus since firm inception in 1993. Trident is broadly recognized as one of the leading investors in Health Care IT, Cloud Computing, IT Security, Online Advertising and Outsourcing. The firm is headquartered in Palo Alto, California.

SOURCE: Advanced ICU Care

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