AlayaCare Secures $33 Million (CDN) in Growth Funding From Inovia Capital

MONTREAL — AlayaCare, which enables home healthcare providers to deliver best-in-class services and improve care outcomes, today announced that Inovia Capital, Caisse de dépôt et placement du Québec (CDPQ) and Investissement Québec have invested $51-million, buying $33-million in new equity from AlayaCare plus $18-million of stock from early investors. AlayaCare helps home and community care agencies manage all aspects of their business and operations using a single cloud-based SaaS platform. At the same time, the market is experiencing a shift toward integrated care, value-based reimbursement and the rising use of cloud-based software; a digital environment in which AlayaCare’s artificial intelligence and application program interfaces (APIs) can drive optimal health outcomes. Home care solutions are especially adapted to elderly patients, who represent an increasing share of healthcare beneficiaries” said Charles Émond, Executive Vice-President and Head of Quebec Investments and Global Strategic Planning. CDPQ is proud to embark on the next chapter of AlayaCare’s success story and contribute to one of the country’s leading health tech companies.” “We are proud to support AlayaCare, a major player in the home healthcare sector, and enable this software platform provider to launch an accelerated growth plan and acquire the flexibility needed to develop new markets, seize any opportunities for expansion that present themselves, and increase its presence and positioning in Québec,” stated Guy LeBlanc, President and CEO of Investissement Québec.