VoCare, Inc.—Powered by Motorola offers a comprehensive telehealth product for the elderly and chronically ill that combines its MySimpleOne smart phone with unlimited voice, text, and data, along with a Personal Emergency Response System (PERS) safety button, medical peripherals; charging base and speakerphone, to form a comprehensive FDA cleared remote patient monitoring solution. The VoCare solution is offered directly to consumers as a pre-packaged kit that includes a combination of preloaded applications that can be used with medical peripheral devices, to provide remote patient monitoring of a patient by their own physician. As healthcare in this country migrates towards better care, more efficient and lower cost management solutions, VoCare provides a unique vehicle for this transformative trend. In addition, VoCare also offers the MySimpleOne senior advanced smartphone as a separate product as well as a telehealth application, HealthCareAnywhere, for use on all devices.
VoCare’s agreement with Motorola coincides with the completion of the company’s Series A Offering in which it successfully raised approximately $5 million. During this time, VoCare also secured US Patent # US 8,116,724; obtained FDA 510K approval; and completed clinical trials and proof of concept for the US market. Now that Series A is closed, VoCare has undertaken its Series B Offering prior to taking the company public, which in turn will allow it to bring on additional staff and launch the program nationally.
According to Dr. Ben Park, MD, the CEO of American Health Network, “VoCare provides four significant benefits for both provider and patient: improved patient care; enhanced personal safety; an overall reduction in the cost of care; and a new revenue stream for physicians who are willing to provide a plan of care.”
VoCare’s Chief Executive Officer and Founder Steven R. Peabody notes that, “VoCare brings a unique dynamic, as it comprehensively combines telehealth and remote patient monitoring, as well as medical alert, similar to ‘I’ve Fallen and I Can’t Get Up!’® in a manner that will allow doctors to track patient health and make ‘virtual house-calls.’ This creates a new approach to patient care inasmuch as it addresses the needs of an aging population while it enhances efficiency for healthcare organizations.” Peabody indicated that while he anticipates that this Offering will be completed in the next few months, “in order to position the Company for future growth and expansion, it is VoCare’s intention to become a publicly traded company at the close of this fundraising series.”
