HARTLAND, Vt. — Today, the CORI Innovation Fund (CIF) announced an investment in Arsana Health (Arsana), a producer of software and hardware solutions for post-acute healthcare providers, such as skilled nursing facilities and assisted living homes. CIF is a Qualified Opportunity Fund that invests in high-growth technology companies supporting job creation and revenue generation in small towns across America. CIF is leading this funding round that will provide Arsana with capital to expand its growth strategy.
Arsana will relocate to the Black River Innovation Campus in Springfield, Vermont — which was designated an opportunity zone under the 2017 Federal Tax Cut and Jobs Act — and become a qualified opportunity zone business.
Bob Flint, executive director of the Springfield Regional Development Corp., said, “We are excited to welcome Arsana Health to Springfield. Their products will end up being an important part of the post-COVID world for long-term care and overall use in medical facilities. The Black River Innovation Campus will be an ideal location for Arsana Health to further develop their products and bring them to the marketplace.”
Arsana offers both software and hardware solutions to the post-acute care industry. The Arsana Health Portal combines medical records from post-acute care facilities, doctors’ offices, labs, and pharmacies into an intuitive and convenient format that saves time, creates new billing opportunities, and improves outcomes.
The company’s hardware solution, WashSense, uses a patent-protected smart sensor installed next to soap dispensers to promote and monitor proper handwashing technique to improve hygiene and reduce the spread of infection at medical facilities. The COVID-19 pandemic has made the functionality of the company’s products even more important for its customers.
Arsana founder and CEO, Connor Dahlberg, said, “Forty percent of Americans will require long-term care in their lifetime. Arsana’s solutions improve long-term care outcomes and are gaining significant traction in the post-acute care marketplace. We are excited to utilize the additional capital provided by CIF to grow our business and better serve our customers.”
“Arsana has created intuitive products to improve health and hygiene outcomes in long-term care settings,” said Jay Bockhaus, Managing Partner of CIF. “We are very pleased to support the company’s growth and welcome them to the Black River Innovation Campus.”
About the CORI Innovation Fund
The CORI Innovation Fund (CIF) invests in growth businesses located in Qualified Opportunity Zones in the United States to enhance economic growth and job creation in small communities. CIF seeks out attractive technology-enabled operating businesses in rural geographies that are under-served by traditional venture capital institutions, and identifies, funds, and supports the best tech entrepreneurs American small towns have to offer. For more information, visit http://www.corifund.com.
About the Center on Rural Innovation
The Center on Rural Innovation (CORI) is a dynamic social enterprise solving America’s rural economic crisis by empowering small towns to build thriving digital economies. CORI’s three major initiatives form a comprehensive approach to catalyzing the digital jobs that drive sustainable economic success: The Rural Innovation Network, made up of 20 small communities nationwide dedicated to digital economic development; the Rural Opportunity Map, which incorporates hundreds of datasets to highlight promising rural areas; and the CORI Innovation Fund, which provides needed capital to innovative but underserved rural entrepreneurs. For more information, visit www.ruralinnovation.us.
About Arsana Health
Arsana offers software and hardware solutions for post-acute care providers, such as skilled nursing facilities and assisted living homes. The company’s software systems combine medical records from medical facilities, doctors’ offices, labs, and pharmacies into an intuitive and convenient format. The company’s patent protected hardware solution, WashSense, is a smart sensor that promotes and monitors proper handwashing technique to improve hygiene and reduce the spread of infection at medical facilities. For more information, visit https://www.washsense.com/washsense/