FOR IMMEDIATE RELEASE
PathWell Health, Inc. Completes Acquisition of Shamrock Visiting Nurse and Home Health Aide Agency, Inc.
Fairfield, CT – PathWell Health, Inc. ("PathWell") has completed the acquisition of Shamrock Visiting Nurse and Home Health Aide Agency, Inc. ("Shamrock Home Care" or "Shamrock"). The transaction sets in place an exciting transition for Shamrock Home Care, which has been providing care to the communities of Southern Connecticut since 1990.
Raman Brar and Andrew Quinn, founders of PathWell, have partnered with Kathleen Morrison, RN, MSN, to provide the best home-based care in Connecticut. Kathleen will remain in her position as the Administrator of Shamrock Home Care. The leadership team's joint vision is to improve patient outcomes while reducing overall healthcare costs and reducing caregiver burnout.
The rising demand for and rising complexity of home health care services has created an immense opportunity. Focusing on innovation and disrupting industry norms, PathWell is building out technology with the industry's future in mind. This technology, along with streamlined processes, will be utilized at Shamrock Home Care to allow the agency to expand its strong emphasis on patient care.
The future of home-based care is value-based care driven by technology. “Our parents and our grandparents need home-based care, but the industry as it exists today is unsustainable due to outdated regulations and siloed technology. Broadly speaking there are two ways for home health care agencies to move into the future. One way is to grow through sheer scale - becoming too big to fail. The alternative is to build out a robust operational foundation, rooted in data and technology. Payers, led by Medicare Advantage plans, are increasingly data-driven and want to work with home health care agencies focused on measuring outcomes,” said Andrew Quinn, CFO/COO of PathWell.
5G and Home-Based Care
"5G is here, now, but will be widespread in the next decade. Medical IoT applications will become faster, more reliable, and ubiquitous. Our physical presence in patients' homes uniquely positions us to deploy IoT-based remote patient monitoring solutions to tackle specific chronic conditions," said Raman Brar, CEO of PathWell. He added “Our vision is to be connected 24/7 with the caregivers, nurses, and therapists via their smartphones and with patients through IoT technology. The benefits of constant connectivity are to be able to draw actionable insights from the data and to share those insights real time with doctors and payers so they can trigger interventions as needed.” PathWell believes COVID-19 and the recent increased adoption of telemedicine is going to become a catalyst for ubiquitous connectivity.
PathWell is a technology-enabled home health care business, building an end-to-end technology stack that will form the operational backbone of home-based care businesses that are increasingly seeing margin pressures. PathWell’s go-to-market approach includes selling directly to our patients and provider/payer clients, and selling technology solutions to other home health care agencies.
About Shamrock Home Care
Shamrock is a family-owned and community-focused home health care provider. Shamrock serves Southern Connecticut communities providing skilled nursing, physical, occupational, speech therapy, medical social work, wound care, homemaker, and companionship services. Shamrock’s rapid growth and success are due to the professional way the business is managed and the exemplary service that is given to patients and the health community.