TapestryCare Completes Series A financing

TapestryCare, a Connecticut based technology-enabled multispecialty healthcare services company, has announced the completion of a Series A investment round led by Sopris Capital.

Tapestry employs a unique combination of telemedicine technology and high-touch clinical services to elevate the standard of on-site medical care for skilled nursing facilities. Telemedicine in the skilled nursing industry has long been constrained to television-based diagnosis, utilized solely to reduce overnight and weekend hospitalizations of residents. "Technology is too often used to replace human interactions," said Dr. David Chess, CEO, CMO and Founder of TapestryCare. "We see things very differently. We use technology to bring our clinicians to the patient's bedside to deepen the personal relationships between the physician, the patient and the facility staff. This clinically-respectful approach changes the quality and dignity of peoples' lives. TapestryCare revolutionizes the care paradigm."

TapestryCare has a staff of skilled of medical practitioners who represent the broadest range of disciplines in the industry. Because of their depth of expertise, Tapestry's clinicians are able to bring the integrity of an entire medical center right to the patient's bedside. Mordy Eisenberg, co-founder of Tapestry and the architect of its expansion in both markets and services, explained; "Access to highly skilled specialists across a multitude of disciplines is a challenge for nearly every skilled nursing operator and their patients. Tapestry provides this critical access, and more. Our medical professionals and specialists utilize our advanced technology to make daily rounds at the facilities we support. They get to know the patients, their families and the local nursing staff, which leads to a comfort level and reliability that no traditional tele-medicine company can offer."

Tapestry, which launched by bringing medical-center caliber care to rural skilled nursing facilities, now contracts with more than 85 skilled nursing facilities in both rural locations and major urban centers in seventeen states. The Company will work with Sopris to further expand its geographic service areas and to expand its offering of clinical services. "TapestryCare has everything we look for in a company – extremely capable leadership, proven and unique product offerings, the ability to meet the needs of a large and growing market, and most important, a compelling value proposition both to facilities and their patients," said Abinav Sankar, Partner at Sopris Capital who joins the TapestryCare Board of Directors. "I witnessed first-hand the difference the TapestryCare team made for its patients. Every nursing home facility needs a solution like this."

Sankar continued; "This infusion of capital and Tapestry's plans for expansion into new verticals and geographic markets, supported by Sopris' experience in the healthcare field, auger well for a long and successful partnership."

About TapestryCare

TapestryCare is a multi-specialty healthcare practice that utilizes advanced technology to bring the integrity of a medical center – including direct access to a team of physicians, specialists and behavioral health services – to the patient's bedside in skilled nursing facilities and other non-hospital environments. Tapestry's skilled specialists, physicians, nurse practitioners and registered nurses see patients on a daily schedule, building relationships with patients and families based on familiarity and trust to ensure appropriate, effective and efficient delivery of care regardless of the patient's location, or day and time of need. Learn more at: http://www.tapestrytelehealth.com

About Sopris Capital

Based in New York, Sopris Capital is a venture capital firm that invests growth equity in technology-enabled business services and SaaS companies that are solving critical painpoints. Sopris seeks to be a value-added partner to fast growing companies that have a validated business model, proven product/market fit, and a management team that can capitalize on the opportunity ahead. Learn more at: http://www.sopriscapital.com