Wellinks Inc., a New Haven-based digital healthcare firm, said this week it had raised $10 million in a Series B funding round.
The company, located at 85 Willow St. in New Haven, develops virtual tools to treat chronic obstructive pulmonary disease (COPD) and congestive heart failure (CHF).
Wellinks announced Tuesday it had secured $10 million to fund commercial growth with participation from UMass Memorial Health and inside investors. The investment builds on Wellinks’ multiyear relationship with UMass Memorial Health and other partners to accelerate the expansion of its predictive-care technology, the company said.
Wellinks’ Food and Drug Administration-cleared technology monitors patients with chronic lung disease and alerts care teams to early warning signs that their condition may be worsening.
Wellinks previously partnered with UMass Chan Medical School on the Healthy at Home program, which uses remote patient monitoring to help people with COPD to manage their condition at home.
A study of the program found that participants were 60% less likely to be readmitted to the hospital within 30 days than similar patients who did not participate, along with trends toward fewer emergency department visits and shorter hospital stays.
Wellinks said it will use the funding to expand its market reach, enhance its predictive technology using real-world clinical data, and extend its platform to treat additional cardiopulmonary conditions, including congestive heart failure.
