Granger Health Announces Acquisition of Medical Device and Data Analytics Company
WYOMING, Mich., August 24, 2023 (Newswire.com) - TracPatch Health, LLC recently completed the acquisition of assets formerly owned by TracPatch Health, Inc., previously headquartered in Sacramento, California. The debt restructuring required for the transaction was facilitated by Granger Capital to assist in the purchase.
Under its new ownership, TracPatch Health will continue to be a provider of innovative surface-sensor, remote patient monitoring devices and data capture for musculoskeletal health. The technology monitors key patient metrics, allowing a surgeon to monitor a patient's recovery remotely, connecting pre-operative data measurements with post-operative recovery metrics to provide evidence-based medicine throughout the care cycle and keeping a continuous link between the patient and healthcare provider.
TracPatch is a non-invasive, FDA Class I exempt medical device that provides a digital health solution designed to provide accessible, connected, and more predictable recovery. TracPatch is a 24/7 passive, continuous, and platform-agnostic remote monitoring system that includes two non-invasive, surface sensors that synchronize with the patient and healthcare provider mobile apps and a healthcare provider web portal. The TracPatch Insights platform helps to maximize the probability of a successful episode of care by focusing on critical metrics for patient compliance and providing early detection of adverse events, such as arthrofibrosis and infection. This results in reduced readmissions, cost containment, and better patient satisfaction with optimal clinical outcomes.
TracPatch will continue to serve hospitals, ambulatory surgery centers, physical therapists, and surgeons, including the University of Miami Health, Northwestern University, Baylor University, OrthoSC, and numerous others currently using the TracPatch system. The core use is designed for surgical and non-surgical procedures in the orthopedic musculoskeletal market, which encompasses a range of procedures such as knee replacements, and ACL reconstructions. Future applications will focus on lumbar spine surgeries, hip replacements, rotator cuff surgeries, and shoulder replacements.
TracPatch Health is managed by Granger Health, a Granger Group company, and will be led by Holly McAlpine as managing director. As the company continues its extraordinary growth, TracPatch will continue to deliver on its value proposition of saving clinical time, lowering costs and reducing health risk.
Source: Granger Health, a Granger Group company
