Japan-based health IT provider Infocom last week announced a strategic investment into Homage, a Singapore-based caregiving and telehealth startup, establishing a regional partnership between the two companies in the long-term and senior care sector.
In 2019, Infocom invested in the 1st Fund of HealthXCapital, a Singapore based early stage venture fund investing exclusively in healthcare startups, for the healthcare business expansion in South East Asia. Infocom provides software products, solutions and information services in the areas of medical record management, drug information management, hospital management support, radiology information, and medical imaging.
Through the strategic alliance, Homage and Infocom aim to accelerate the long-term care business in Japan and APAC and provide the trusted support for rapidly growing senior care needs across the region.
THE LARGER TREND
The COVID-19 pandemic has created more demand in telehealth services, and Homage has been ramping up its service offerings. It has certainly caught the eye of Japanese investors like Infocom, given Homage’s growing capabilities in aged care and telehealth, which aligns with Japan’s ongoing challenges of managing its rapidly aging population.
In June, Homage launched Homage Health, which provides medical services such as such as mobile medicine, teleconsultation, and medication delivery – for care recipients in their own homes, MobiHealthNews reported. This is the startup’s venture into telehealth services, on top of their Homage Care, which includes their core nursing, caregiving and rehabilitation services.
At the start of 2020, Homage also raised an undisclosed amount of Series B funding led by EV Growth, with new investors Alternate Ventures and KDV Capital also joining the round and participated by existing investor HealthXCapital.
Last October, Homage partnered with Singapore-based digital health startup WhiteCoat to launch a pilot telehealth program that complements home-based care with the aim to improve elderly chronic disease management.