Carlsbad, California-based CortiCare, a telehealth services and EEG brain monitoring solutions, has acquired Rocky Hill, Connecticut-based Physicians Ancillary Services, a provider of ambulatory EEG services. Also, HCAP Partners has made an investment in CortiCare. No financial terms were disclosed.
CARLSBAD, CALIF. (PRWEB) APRIL 24, 2019
CortiCare, Inc., a leading provider of Tele-EEG Brain Monitoring services, today announced it had acquired Physicians Ancillary Services (PAS) in Rocky Hill, CT. PAS is a market leader in ambulatory EEG services, offering at-home EEG brain monitoring. This acquisition comes just nine months after CortiCare acquired the EEG assets of New York-based Safe Passage Inc., a company also providing ambulatory EEG monitoring services.
“We were looking for a partner that could help take us to grow by taking advantage of our ambulatory technology. Simply stated, we needed a partner with the resources and reach in the neuromonitoring arena. The combination of CortiCare’s nationwide remote monitoring infrastructure and our best-in-class ambulatory set-up services is a great match” said Carl Tyler, CEO at PAS.
“The integration PAS gives us greater breadth in neurodiagnostics. We have looked for a partner that can provide in-hospital set-up services to complement our remote hospital EEG monitoring services. PAS will allow us to help patients through the continuum of EEG care, from the hospital, physician office, and into the home,” said Tim Innes, CortiCare’s Executive Vice President.
“Through this acquisition, we are not only expanding our EEG service footprint, but investing in other brain monitoring diagnostic technologies including hardware, artificial intelligence, and cloud-based services. This technology will provide clinicians a wider array of information on the brain in a format that is fast, accurate and traditionally only available to neuro-specialists. We consider this the New Wave of EEG,” said Brad Westcott, the President of CortiCare.
In addition, HCAP Partners, a California based private equity firm, announced today its partnership and investment in CortiCare. As a result of this investment, CortiCare is actively seeking additional acquisitions of high-quality neuro-based diagnostic companies. For more information, please contact bradw(at)corticare.com or tinnes(at)corticare.com.
About CortiCare, Inc.
CortiCare is a provider of telehealth services and EEG brain monitoring solutions to neurology and critical care areas within the hospital. CortiCare works diligently with its clients to establish protocols, practices, and processes which have become an industry standard for continuous EEG monitoring. The CortiCare EEG platform covers ICU, NICU, ED and EMU departments offering a nationwide network of remote EEG monitoring and reading services including long term, stat, and routine studies. The company’s board-certified neurophysiologists and epileptologists along with its team of Registered EEG Technologists can provide real-time brain activity monitoring and interpret potential seizure risks. For more information, please visit http://www.corticare.com
About Physician Ancillary Services, LLC (“PAS”)
PAS offers state-of-the-art portable video EEG monitoring to ambulatory clients in physician offices, or the privacy and comfort of a patient’s home. PAS was the first to commercialize ambulatory remote patient check-in and remote EEG surveillance to assure EEG data quality and integrity. These IT technology advances, combined with a complete paperless data management system from the patient’s home to the physician interpretation, provides a platform for consistent, robust, high-quality EEG studies while maintaining compliance with all regulatory and industry standards. Since its founding, PAS has extended its services to cover all of New England, New Jersey, New York, Texas, Pennsylvania, Tennessee, Arkansas, North Carolina, Maryland, Delaware, Georgia, and Florida.