UPMC's patient telemedicine service Curavi Health has completed a merger that enables its founding institution to retain an equity stake.
Curavi Health, a US-based remote healthcare services and software spinout of University of Pittsburgh Medical Center (UPMC), merged with its peers CarePointe and US Health Systems (USHS) on Wednesday to become Arkos Health.
Spun out of UPMC in 2016, Curavi provides a service that enables patients recovering from acute medical care to receive specialist consultations from home.
The service is underpinned by a trolley-mounted unit equipped with medical equipment to check the patient’s condition and a web conferencing display to connect with their clinician.
Curavi’s assets will now be combined with CarePointe and USHS, which collectively serve more than 110,000 elderly patients in the US.
All three businesses will remain distinct subsidiaries under Arkos Health, in which UPMC will continue to own an equity stake. Curavi Health does not appear to have raised equity funding ahead of the acquisition.
Scott Lipsitz, chief financial officer of Arkos Health, said: “USHS is excited about expanding its telemedicine offering with Curavi and improving its clinical and financial integration with CarePointe as a result of this merger.
“Arkos Health can now enhance both payer and provider capabilities to deliver higher quality care and improve shared earnings.”
– Feature image courtesy of Curavi