# Adracare

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/adracare

- Industry: Healthcare IT
- Headquarters: Toronto, Canada
- Website: www.adracare.com
- Latest round: Seed (Nov 29, 2019)
- Investors on record: 2

## About

Adracare Inc. is a Canadian company providing a comprehensive telehealth and practice management software platform tailored for mental health professionals, streamlining operations to enhance patient care.Adracare Inc., founded in 2018 in Toronto, Canada, offers a platform designed for mental health practitioners. The company has executed 2 deals, with the latest being a Trade Sale on December 17, 2020, where WELL Health Technologies Corp. agreed to acquire Adracare for CAD 4.75 million. The deal is expected to finalize by early Q1 2021.Adracare provides an integrated telehealth and practice management software platform specifically designed for mental health professionals. Their primary product streamlines various aspects of a virtual care practice, offering features such as patient onboarding, appointment scheduling, reminders, and documentation management. This platform addresses critical challenges faced by mental health practitioners, including reducing administrative burdens, minimizing no-shows, and enhancing patient engagement through seamless integrations of virtual and in-person care. Adracare's client base includes therapists, psychologists, social workers, and other mental health providers, primarily operating in North America, with a growing presence in Europe and Australia. Since its launch in 2018, Adracare has positioned itself as a comprehensive solution that allows practitioners to focus more on client care rather than on the complexities of practice management.Adracare generates revenue primarily through subscription-based transactions, offering different pricing tiers that cater to various practice sizes, from solo practitioners to larger clinics. Clients pay for access to the platform, which includes vital features such as secure virtual assessments, billing management, and patient engagement tools. The subscription model typically includes monthly or annual payment options, allowing practitioners to select a plan that aligns with their operational needs. Specific pricing plans are tailored to the scale of the practice, facilitating cost-effective solutions for mental health professionals. This structured approach to revenue generation allows Adracare to maintain flexibility in its service offerings while ensuring that clients receive the support necessary to enhance their practice's efficiency and patient care outcomes.Following its acquisition in December 2020, Adracare is expected to leverage the resources of WELL Health Technologies Corp. to expand its product offerings and enhance its market presence. Plans for future growth include the development of new features focused on improving patient interoperability and care coordination, as well as expanding into new geographic markets including Europe and Australia by 2022. This strategic direction aims to utilize the funding received from the acquisition to support product development and market expansion initiatives.

## Funding rounds

- Seed, Nov 29, 2019 — iGan Partners, BCF Ventures

## Investors

- iGan Partners (https://capitalatlas.ai/funds/igan-partners) — Seed
- BCF Ventures (https://capitalatlas.ai/funds/bcf-ventures) — Seed