Rhythm Management Group Announces Acquisition of Equis Consulting Group
The acquisition, which officially closed on September 30, forms the largest full-service remote cardiac monitoring company in the United States.
“As a proven leader in remote monitoring solutions since our founding in 2011, we are very well-positioned in the market,” said Rhonda Bray, CEO and Founder of Rhythm.
“The acquisition of Equis further solidifies our commitment to providing the best and most seamless remote monitoring experiences to our customers and their patients. By bringing our teams and our resources together, we will further increase our ability to improve healthcare and make remote patient care better, easier, and more rewarding.”
“Through the acquisition, Rhythm significantly enhances its national footprint and geographic presence across the Midwest,” said Mirza Baig, Managing Partner of Aldrich Capital Partners. “With more than 150 active customers, 125,000 monitored patients and a greater than 90% customer retention rate, Rhythm continues to be a dominant force in the market as a result of their strong clinical processes, infrastructure and proprietary software – RhythmSynergy™. We are excited to welcome Equis into the Aldrich family.” Aldrich Capital Partners invested $34 million into Rhythm in early 2021.
“The integration of our company as a fully-owned entity into Rhythm is a testament to the passion and commitment our employees have shown to improving healthcare,” said David Zimmers, Cofounder and Former CEO of Equis who will now become Director of Customer Integrations for Rhythm. “The fact is, our organizations are stronger together and we remain fully dedicated to meeting the needs of our customers and the patients we serve. This is a very exciting time as our combined teams will have a single focus on serving the industry.”
The Rhythm acquisition of Equis comes on the heels of recently announced Medicare reimbursement cuts for remote monitoring services, something Rhythm has been anticipating for several years.
“We will continue to grow and expand our services despite these reimbursement changes, and we are excited and extremely well-positioned to do so,” said Bray. “We know how critical remote monitoring services are to patients and patient health, and we are committed to supporting physicians in their efforts to provide them.”
During the upcoming weeks, the Equis brand will fully transition to the Rhythm brand as the companies combine resources and staff. Financial terms of the deal have not been announced.
Rhythm is a woman-founded and minority-owned company that has more than 100 years of clinical and cardiac monitoring experience across its leadership team. The company is widely-recognized for its strong customer relationships and patient satisfaction, having achieved a 96% customer retention rate. As a testament to the company’s significant success, Rhythm was recently recognized by Inc. magazine as one of America’s fastest growing companies, a result of an impressive 410% 3-year growth rate that places them among elite businesses in the health product category.
About Rhythm Management Group.
Founded by experienced clinicians who care deeply about delivering exceptional remote monitoring services, Rhythm connects your organization to more patients, more optimal monitoring, more actionable data, and more reimbursement. For over a decade, we’ve helped practices and health systems create, improve, and scale their remote monitoring programs, providing compassionate services to more than 125,000 patients across the country. Whether you need a full-service solution or technology alone, we can engage more patients in your program, streamline your workflows, and deliver timely, critical insights to your physicians, so you can care for more people with fewer resources. For more information visit https://www.myrhythmnow.com/.
About Equis Consulting Group
Founded in 2012, Equis Consulting Group provides clinical and consultative services for remote patient monitoring and management. Equis integrates device monitoring resources into clinics and hospitals across the country to provide quality remote monitoring services to medical practices, hospitals and health systems. Services include: daily patient monitoring, screening clinically relevant data, and helping clinical staff triage patient information to provide better patient outcomes.
About Aldrich Capital Partners
Aldrich Capital Partners supports disruptive innovation in healthcare IT, fintech, and application software by investing equity capital in privately held growing companies. Founded by experienced investors and operators, who were also successful entrepreneurs, the founders of Aldrich Capital have been responsible for over $2 billion in technology investments since 1999. Both an operations partner and board-level advisor, ACP brings its portfolio companies strategic insight and access to a broad network of relationships built over 50 combined years of entrepreneurship and investing. Aldrich Capital Partners was founded in 2014 and has offices in Silicon Valley and the Washington, DC metro area. Learn more at www.aldrichcap.com.
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