Toronto, Ontario [August 24, 2023] - Careteam Technologies selected for the MC2 Capital Program investment from Baycrest’s Centre for Aging + Brain Health Innovation (CABHI).

Careteam has been selected for an investment from Baycrest’s Centre for Aging + Brain Health Innovation (CABHI) to grow its digital health collaboration platform and improve the care coordination to support older adults living at home with complex and chronic health issues.

This funding was made possible with CABHI’s “Mentorship, Capital and Continuation” (MC2) Capital Program, in partnership with National Bank, to support the scaling of early-stage innovations that focus on improving the quality of life for older adults, people living with dementia, and caregivers. In this funding round a total of $5 million was distributed across 19 companies, each receiving up to $400,000.

CABHI has supported the development of Careteam from the early days, including In 2018, by selecting Careteam to take part in CABHI’s “Industry Innovation Partnership Program” (I2P2), connecting agetech companies with seniors’ care organizations willing to act as the initial adoption partners for the company’s digital solutions. As a result of that initial project, clinicians saw improved communication with patients and caregivers after the completion of geriatric assessments, increased user satisfaction by 60 per cent, and clinician productivity by 30%.

Such positive results are anticipated for CABHI’s reinvestment in Careteam for MC2 as well. “We are excited to see the continuous support from CABHI once again as we transform the way healthcare is delivered to the older population,” said Dr. Alexandra T. Greenhill, Founder, CEO and Chief Medical Officer of Careteam Technologies. “When people who are the leaders in the digital and agetech space, and especially with CABHI, people who have been there from our start, when they see and support the progress we have made, it’s one of the most rewarding accolades one can get. Companies always need mission-aligned smart money and this investment is a great example of that.”

“Agetech companies face early-stage funding gaps. CABHI’s MC2 addresses this, in collaboration with our partners, by awarding financial support, but also by offering a series of acceleration services to support their growth and sustainability,” says James Mayer, Senior Manager, Investments & Venture Services at CABHI. “It’s a first-of-its-kind program, now in its fifth round, which has directed $13.7 million to companies which have gone on to secure millions more in follow-on funding.”

In addition to the funding, the MC2 Capital program provides access to mentors and end user feedback through CABHI’s LEAP platform and Innovation Network.

About Centre for Aging + Brain Health Innovation (CABHI):

A solution accelerator for the aging and brain health sector, CABHI provides funding and support to innovators for the development, testing, and dissemination of the latest ideas and technologies that address unmet brain health and seniors’ care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CABHI is a unique collaboration of healthcare, science, industry, not-for-profit, and government partners whose aim is to help improve quality of life for the world’s aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being.

CABHI gratefully acknowledges the support of its funders: the Government of Ontario through the Ministry of Colleges and Universities, and the Government of Canada through the Public Health Agency of Canada (PHAC).

About Careteam Technologies:

Established in 2017, Careteam was born from a vision to bridge what usually happens to what is possible in terms of care for complex chronic conditions. Built by a team of highly specialized health and technology professionals, the Careteam platform empowers health teams to solve healthcare’s toughest challenge — fragmentation, and offer patients and their families the best care outcomes and experiences possible.

Careteam works with leading healthcare organizations to simplify complex care journeys. Our platform integrates with the other technologies people already use to reduce gaps in care and prevent readmissions by securely connecting every individual and organization involved in the care journey, across ecosystems and diseases. The Careteam platform delivers patient-centric, action-based care plans that drive the right action(s) at the right time, helping healthcare providers achieve better outcomes and experiences for patients, and increased capacity for their clinical teams. It is the only platform that flexibly adapts to all situations and offers patients full control of who on their support network gets involved.

To learn more about Careteam, visit getcareteam.com.

Media contact:

Careteam Technologies
Dr. Alexandra T. Greenhill, MD
CEO | Chief Medical Officer
c. 604.347.7338
e. agreenhill@getcareteam.com

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