Cardiovascular Systems (NSDQ:CSII) announced that it completed a minority investment and entered into an option agreement to acquire telehealth company CarePICS.
CarePICS offers a virtual care platform designed to aid in the treatment of people with peripheral artery disease (PAD), critical limb ischemia (CLI) and lower extremity wounds, according to a news release.
The platform is designed to allow a multidisciplinary group of physicians to communicate with one another along with patients throughout the care continuum. The aim is to reach more patients in need, intervene when appropriate and coordinate follow-up to improve patient outcomes.
Financial terms of Cardiovascular Systems’ investment in CarePICS were not disclosed, while the company possesses an exclusive option to acquire the remaining equity.
“CarePICS is the connective tissue between collaborating physicians and their patients,” CarePICS CEO Paul E. Schubert said in the release. “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.”
“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,” added Cardiovascular Systems chairman, president & CEO Scott R. Ward. “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.”