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Thursday, March 23, 2023

Innovative IronRod Health Remote Health Monitoring Platform Receives Growth Investment from HCAP Partners

BOSTON–(COMMERCIAL WIRE)–DA Davidson & Co. announced today that served as exclusive financial advisor to IronRod Health (IronRod), an Arizona-based innovative remote health monitoring platform, on its HCAP Partners investment. Since its founding in 2016, IronRod has helped more than 20,000 patients receive dedicated care from their providers beyond the four walls of the practice. The company has three main lines of remote monitoring revenue, all focused on the cardiology space. IronRod combines trained technicians with state-of-the-art software to deliver a complete healthcare solution that sends actionable information to healthcare providers. The company also delivers billing reports and alerts directly to EMR and helps establish efficient workflows for its vendor practices.

As the COVID-19 pandemic prevented patients from visiting their providers in person, cardiologists and patients have increasingly embraced virtual health. Additionally, the aging of the population combined with rising rates of chronic disease further underscores the value of a remote health solution that IronRod provides. With the new funding, the company is well positioned to gain market share in the growing remote patient monitoring sector.

“It was a pleasure working with Andrew Nash and the IronRod team. We are strong believers in RPM technologies as the next chapter of virtual health unfolds. IronRod is capitalizing on many strong tailwinds driving adoption and growth in the category,” said Greg Hartlein, Group Director of Technology Investment Banking at DA Davidson. “We were excited to partner with another high-growth founder-owned company and advise them on this capital raise to take the business to new heights.”

“The DA Davidson team went through a comprehensive process to align IronRod with the right capital partner. We are excited to partner with HCAP to begin this next stage in our company’s growth,” said Andrew Nash, Founder and CEO of IronRod. “With this new capital, we are able to provide advanced service to our clients, raising the level of medical care for thousands of patients.”

“With this new funding, IronRod is well positioned to continue its impressive growth trajectory by providing outstanding service to cardiology practices and their patients as demand for remote monitoring increases,” added Amy Johnson, Group Director of IronRod. Debt Advisor and CEO of DA Davidson.

About DA Davidson Companies

DA Davidson Companies is an employee-owned financial services company that provides a range of financial services and advice to individuals, businesses, institutions and municipalities across the country. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 28 states.

Subsidiaries include: DA Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets, and advisory services; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and estate management company; and Davidson Fixed Income Management, a registered investment adviser offering fixed income portfolio and advisory services.

For more information, visit www.dadavidson.com.

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