Medtech Company Recovery Force Health Secures $1.25M in Funding
Indianapolis, Ind. (March 9, 2023) – Recovery Force Health, a medical technology company focused on data-driven, wearable devices, is announcing today the close of a $1.25 million investment round with Elevate Ventures.
Matthew Wyatt leads Recovery Force Health (RF Health) as CEO. He has 27 years of experience in the medical device industry, including large-scale strategic management expertise in defining corporate structures and building teams with a people-first mentality.
“We are honored to have Elevate Ventures participate in this round of capital as the first institutional investment RF Health has accepted,” Wyatt said. “Our team has developed the world’s first deep vein thrombosis (DVT) prevention and mobility device without the cumbersome limitations of pneumatic technology.”
RF Health has developed a cordless, lithium-ion-powered, compression and mobility device called the MAC System for patients in the hospital and those recovering at home. The MAC System is cleared as an FDA Class II device prescribed by healthcare professionals to stimulate blood flow in the lower extremities and assist in the prevention of DVT in at-risk patients.
Designed with the nurse’s workflow in mind, the MAC System also monitors point-of-care data to promote early mobility and patient compliance, providing significant healthcare economic benefits by reducing costs associated with non-reimbursable hospital-acquired events.
“RF Health has the qualities we look for in an investment. They’ve built a strong, multidisciplinary team and a novel, game-changing solution to a major pain point in the acute care hospital setting,” said Elevate Ventures CEO Christopher Day. Essentially, RF Health’s technology reduces a patient’s risk of developing blood clots after they undergo surgery or another common, non-reimbursable event.
“The company has derisked its technology to the point of execution. Elevate Ventures looks forward to watching RF Health rapidly scale and prove traction with early hospital customers,” Day said.
RF Health researches critical obstacles in the healthcare market to innovate new solutions. Its future product development portfolio includes data-driven solutions and wearable devices to prevent blood clots (VTE), measure mobility and prevent pressure injuries.
RF Health plans to use the new funding as growth capital to onboard additional progressive-thinking hospital systems and introduce other disruptive products. To learn more about RF Health, visit rfhealth.com.
About Elevate Ventures
Elevate Ventures is a private venture development organization assisting high-growth startups and early-stage companies expand into high-performing, Indiana-based companies. Elevate has invested over $150 million in more than 500 companies through its various programs. Pitchbook has ranked Elevate as the Most Active VC in the Great Lakes Region since 2017. To learn more about Elevate Ventures, visit elevateventures.com.
