Funding will help the company create a SaaS platform and expand its sales and marketing teams
D.A. Davidson & Co. announced today that it served as exclusive financial advisor to IronRod Health (IronRod), an Arizona-based innovative remote health monitoring platform, on its investment from HCAP Partners. Since its founding in 2016, IronRod has helped more than 20,000 patients receive dedicated care from their providers beyond the four walls of the practice. The company has three main remote monitoring revenue lines, all focused on the cardiology space. IronRod combines trained technicians with state-of-the-art software to offer a complete healthcare solution that sends actionable insights to healthcare providers. The company also delivers billing and alert reports directly to EMR as well as helps establish efficient workflows for their providers’ practices.
As the COVID-19 pandemic prevented patients from visiting their providers in person, cardiologists and patients increasingly began to adopt virtual health. In addition, an aging population combined with rising rates of chronic illnesses further highlight the value of a remote health solution that IronRod provides. With the new financing, the company is well-positioned to take market share in the growing remote patient monitoring industry.
“It was a pleasure working with Andrew Nash and the team at IronRod. We are big believers in RPM technologies as the next chapter of virtual health unfolds. IronRod is capitalizing on many strong tailwinds fueling adoption and growth in the category,” said Greg Hartlein, Director at D.A. Davidson’s Technology Investment Banking Group. “We were thrilled to partner with another high-growth founder-owned business and advise them on this capital raise to take the business to new heights.”
“The D.A. Davidson team ran a comprehensive process aimed at aligning IronRod with the right capital partner. We are excited to partner with HCAP to begin this next stage in our company’s growth,” stated Andrew Nash, Founder and CEO of IronRod. “With this new capital, we can deliver advanced service to our customers, elevating the level of health care for thousands of patients.”
“With this new financing, IronRod is well positioned to continue along its impressive growth trajectory by providing outstanding service to cardiology practices and their patients as the demand for remote monitoring increases,” added Amy Johnson, Head of the Debt Advisory Group and Managing Director at D.A. Davidson.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 28 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
Deal Team Contacts
Amy Johnson, Head of Debt Advisory, Managing Director | New York | [email protected]
Greg Hartlein, Director, Technology Investment Banking Group | Boston | [email protected]
Steven Fleisher, Vice President, Debt Advisory Group | New York | [email protected]
Media Contact
Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]