TYSONS, Va.--(BUSINESS WIRE)--Red Cell Partners (Red Cell), an incubation firm building rapidly scalable, technology-led companies that are bringing revolutionary advancements to market in national security and healthcare, today announced $3 million in pre-seed funding for Savoy Life, a virtual care coordination and delivery platform created to improve care quality and access for seniors and adults with disabilities living in residential community care facilities.
Designed from the ground-up to scale and serve even the hardest-to-reach assisted living communities, Savoy Life emerges from stealth to empower community managers, caregivers, and those closest to residents to deliver high quality, comprehensive, personalized care. Savoy Life does this via a suite of offerings - all delivered virtually – aimed at elevating the standard of care inside thousands of residential care communities across America.
“With more than 10,000 seniors aging into Medicare every day and access to primary care services on the decline, it is critical that we devise and deploy innovative solutions that not only address the growing demands on our already-strained healthcare system, but that also provide seniors with the kind of care that allows them to age in place with the support they deserve,” said Grant Verstandig, Red Cell Founder, Chairman, and CEO. “Savoy Life was created to be that solution.”
Savoy Life was founded by Peter Emigh, who has spent his career working with underserved, ill, and vulnerable seniors, witnessing firsthand the systemic issues that contribute to critical gaps in care and result in sub-optimal health outcomes. “Make no mistake, most owners, operators, and caregivers in long-term care (LTC) are in this business because they are mission-driven and possess deep compassion for the residents who live in their communities,” Emigh said. “But they are increasingly challenged to care for more frail and clinically complex residents than ever before and the healthcare system has simply not evolved to adequately meet the needs of these operators or their residents. It is this disconnect that has contributed to poor resident outcomes and weaker business performance for communities. Savoy Life was designed to address this root issue and to be the dependable health care partner that long-term care communities need.”
The pre-seed funding from Red Cell Partners allows Savoy Life to launch its initial offerings, which include three distinct products designed to improve assisted-living operations and empower caregivers to deliver high-quality care. The first product is Savoy On Demand, which delivers an end-to-end, integrated move-in platform to improve occupancy rates and lower cost of acquisition along with a compliance solution to address gaps, improve compliance plans, and reduce administrative burden to community staff. The second, Savoy Clarity, integrates remote sensing and monitoring technology inside communities with AI and a virtual back-office nursing team to help communities identify rising risks, appropriately adjust levels of care, take action to mitigate avoidable adverse events, and extend length of stay to improve occupancy and lower resident turnover. The third, Savoy Care, provides communities with a true clinical partner that can quickly and seamlessly fill the care-coordination and care-delivery needs inside any community, including geriatric primary care and geriatric psychiatry. “Through our virtual care platform, we will enable a new paradigm in long-term care where the baseline quality of life is significantly improved for seniors and disabled adults,” Emigh said. “Improved health outcomes are what operators and owners of these communities want and what their residents deserve. With our help, that’s what they will get.”
About Red Cell Partners:
Red Cell Partners is an incubation firm building rapidly scalable technology-led companies that are bringing revolutionary advancements to market in healthcare and national security. United by a shared sense of duty and deep belief in the power of innovation, Red Cell is developing powerful tools and solutions to address our Nation’s most pressing problems. Learn more at redcellpartners.com and follow us on social media (LinkedIn, Instagram, Twitter).
About Savoy Life:
Savoy Life is a first-of-its kind company that partners with residential long-term care communities to improve occupancy, length of stay, healthcare access, and the quality of life for all the residents in their care. Through the deployment of virtual care services and innovative technology, Savoy Life simplifies operations, caregiving, and compliance for LTC community partners so that each and every one of their residents can live the life that matters most to them. Learn more at savoylife.com and follow us on social media (LinkedIn, Facebook, Instagram, Twitter).