Nationwide invests in health tech firms Vesta Healthcare and KINETIC

Nationwide, through its $100 million venture capital investment fund, has made investments in healthcare management consultant Vesta Healthcare and KINETIC, a smart wearable device and software platform maker.

Headquartered in New York, Vesta Healthcare provides round-the-clock technology and clinical services to support caregivers. Nationwide invested in the Vesta Healthcare’s Series A round.

Erik Ross – head of Nationwide venture capital team said: “Caregivers have a huge impact on a person’s ability to live comfortably in retirement. We are thrilled to support Vesta in connecting home caregivers to the clinical environment to create a meaningful impact on people’s daily health.

“We see our investment as embodying Nationwide’s mission of protecting people, businesses and futures with extraordinary care.”

Vesta Healthcare is said to identify the requirement for additional resources in the home proactively to offer 24/7 telehealth support for caregivers and care recipients, with a focus on high-need, frail senior people.

By partnering with home care agencies, health plans, and health care providers, Vesta Healthcare claims to offer value-based population health programs focused on delivering clinical quality, personalized engagement, and improved health outcomes.

Randy Klein – CEO of Vesta Healthcare said: “People want to live at home as they age, but too often do not have the support they need to do so safely and comfortably. We support and engage high needs seniors and their caregivers by capturing daily insights and providing timely and personalized information, tools and clinical support. In doing so we provide peace of mind while preventing unnecessary emergency room visits, hospitalizations, and nursing home stays.

“We are delighted to have an experienced, passionate and dedicated investor like Nationwide investing in us who shares our vision of meaningfully impacting people’s daily health by creating engaging and supportive tools for caregivers.”

Nationwide invests in health tech firms Vesta Healthcare and KINETIC

KINETIC, on the other hand, has developed the REFLEX wearable device designed for reducing workplace injuries for industrial workers. By attaching to a worker’s belt, KINETIC REFLEX is said to measure activities that can lead to injuries such as unsafe postures, slips and falls, and jumping off vehicles.

To bring down lifting injuries, the KINETIC REFLEX device is said to detect unsafe postures and through real-time vibration alerts the worker. An associated software is said to help managers understand where the next injury could take place, by showing increases in risk by department, job type, or time of day.

Haytham Elhawary – CEO and co-founder of the KINETIC said:  “Given the magnitude and cost of the problem, it was surprising to see the lack of technological solutions in the marketplace.

“It’s not just the injury rates and their accompanying expense that are costing employers. It’s everything that comes along with it – the lost workdays, the overtime, rehiring and retraining new employees. “There’s also the human side of those injuries. My mother worked as a nurse when I was growing up and I remember her suffering multiple injuries while on the job and often coming home in pain. An injury at work affects every aspect of your life and your ability to provide for your family. We’re thankful to Nationwide for partnering with us as we work to reduce workplace injuries.”