In late February, Miami-based healthcare startup, HealthSnap, closed a Series B funding round with a $25M investment from Sands Capital based on its remote patient monitoring (RPM) platform to alleviate issues for the chronically ill. Chronic illnesses are on the rise and costs worldwide are expected to exceed $45 trillion by 2030, according to an article in the National Library of Medicine.

In MedCity News’ interview with HealthSnap CEO, Samson Magid, he referenced the fact that 4 million Americans age into Medicare with two or more chronic conditions, resulting in billions of dollars for treatments and care. HealthSnap aims to reduce those costs and improve people’s ability to age in place, too, by providing home-based remote patient monitoring devices and its patient monitoring platform.

Magid was quoted saying, “HealthSnap’s remote patient monitoring and chronic conditions management programs shift the care delivery paradigm from one that’s typically reactive, episodic and delivered in a bricks-and-mortar clinic to a model that’s proactive, ongoing and deliberately in the home.”

The conclusion of this round of funding brings the total number of investments in HealthSnap to more than $48M and helps positions the startup as one to watch moving forward.