Private equity-backed cardiology group acquires at-home care specialists
Cardiovascular Associates of America (CVAUSA), a private equity-backed cardiology management group based out of Florida, has acquired Novolink Health, a care organization that treats high-risk, high-cost patients from the comfort of their own homes. Financial terms of the deal have not been made public.
Novolink, previously known as Duxlink Health, was founded in 2014. The company’s business model involves treating patients with chronic conditions at home so that they are not required to travel each time they have an appointment or require care. According to one study presented virtually at ACC.21, Novolink’s telehospital approach for high-risk patients can reduce the risk of major adverse cardiovascular events by as much as 88% and limit readmissions by 77%.
“Our mission has always been to provide exceptional and personalized care to our patients,” Michael Shen, MD, Novolink Health’s president and chief medical officer, said in a statement. “Joining CVAUSA, one of the largest U.S. cardiology networks, allows us to leverage the extensive resources and reach in our journey to revolutionize healthcare delivery. We are very excited to work closely with Tim and the CVAUSA family to bring our innovative model to more communities and improve the quality of care for all patients in the comfort of their homes.”
“I have known Dr. Shen since 2005,” added Tim Attebery, CVAUSA’s CEO. “He’s an excellent cardiologist and is always experimenting and exploring ways to provide better and lower-cost care. Years before the term ‘hospital at home’ was coined, Dr. Shen realized that remote monitoring technology and home-based diagnostic services could create an Amazon-type solution, allowing certain high-risk patients to receive high-quality and safe care at home instead of being in a hospital or skilled care facility. Dr. Shen’s proprietary and patented system is unique when compared to other similar hospital-at-home solutions. And, importantly, he developed a specialized caregiver training program that empowers family members to participate in key aspects of daily care.”
CVAUSA, backed by Webster Equity Partners, has more than 20 cardiology practices and approximately 400 cardiologists under its umbrella. Its cardiologists treat more than 1 million unique patients per year. Novolink is now an official division of CVAUSA.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.