Latest EC Acquisition Holding News
Mar 10, 2020
HouseWorks, a leader in the personal care home care space, will direct the enhancement and development of eCaring’s suite of products March 10, 2020 12:00 PM Eastern Daylight Time BOSTON--( BUSINESS WIRE )--eCaring, the leading company in mobile technology for generating and utilizing comprehensive real time healthcare information from the home, announced today that its assets have been acquired by EC Acquisition Holding LLC, a company formed by RAB Ventures, LLC, and HouseWorks, LLC. Richard Barasch, a 30-year veteran of the healthcare business, is the principal investor in RAB Ventures and HouseWorks. The new company plans to invest in and expand the eCaring’s products and services to accelerate its growth. Mr. Barasch said, “eCaring has built, under the leadership of its founder and CEO Robert M. Herzog, a transformative system that permits caregivers to generate real-time, actionable information from the home that is useful to monitor and detect changes in health status. This information will be used to enable people to age safely in their homes and minimize the impact of their health challenges. We are excited to build on what Robert and his team have created and to position eCaring for growth.” “With this acquisition, the eCaring platform will gain access to resources and relationships to bring it to the next level of adoption and success,” Mr. Herzog stated. “We built a system with proven impact to keep frail, elderly and chronically ill at home and out of the hospital. The acquisition by EC Acquisition and the utilization by HouseWorks will mean that many more clients will benefit from this impactful care management solution.” Andrea Cohen, CEO of HouseWorks, added, “When HouseWorks evaluated mobile health solutions, we chose eCaring after extensive review because it empowers our caregivers to improve the health and safety of our clients. The innovative technology engages our caregivers in their important work and gives them a new technology-based vehicle to notify care teams about the progress of their clients. The real-time view into what’s happening in the home also provides a sense of security to our clients and their families. It fits with our BetterCare at Home™ approach – wrapping our clients in a safety net of support.” Mr. Barasch added, “Moving forward, HouseWorks will be the laboratory for further development of this unique technology. We plan to enhance the eCaring platform to provide an extensive set of services that provides the best possible care for all people in their homes, making it available to Medicare, Medicaid and private pay personal care programs.” Mr. Herzog has stepped down as CEO of eCaring to pursue other endeavors in healthcare and other sectors, he stated. “I believe eCaring is poised for great success, as it is well positioned to meet the evolving needs of the healthcare system and its new payment and treatment models.” About eCaring eCaring’s unique care coordination system is designed to keep people healthier and longer in their homes and out of the hospital, through the generation and utilization of comprehensive real time healthcare information from patients across the care continuum, in the home and other residential non-acute settings. Its icon-based interface enables patients, care workers, provider and caregivers to enter timely impactful healthcare information regardless of their technical or language skills. The system software may be customized to provide and utilize critical data based on population, disease and condition, down to the individual level. eCaring has enabled healthcare plans, payers, providers, and hospital systems to improve care quality and related revenue and reduce costs through ongoing updates of care needs and care plans, enabling rapid interventions to treat problems as they arise in the home before they worsen to require a hospitalization or emergency room visit, generating better clinical, financial and operational outcomes. https://ecaring.com/ About EC Acquisition Holding EC Acquisition Holding was formed by RAB Ventures and HouseWorks, LLC to acquire the assets of eCaring. Richard Barasch, a 30-year veteran of the healthcare business, is the principal investor in RAB Ventures and HouseWorks. The company plans to provide eCaring with the resources, support and relationships to rapidly expand eCaring’s market reach. EC Acquisition Holding will work in conjunction with HouseWorks to implement and deploy the eCaring’s system, as well as integrate new features and functions to provide a more complete care management solution. About HouseWorks HouseWorks is a national leader in innovative, personalized in-home care services serving the Greater Boston and Philadelphia markets as well as portions of New Hampshire and southern Maine. For more than 20 years, HouseWorks has provided families the highest standard of private, dependable caregiving in the place that keeps seniors safer, healthier, and more engaged at home. With more than 500 Caregivers and growing, HouseWorks is positioned to support the increasing number of seniors choosing to age in place. For more information about HouseWorks, please visit www.house-works.com .