THE PATIENT COMPANY SECURES FOLLOW-ON INVESTMENT FROM MICHIGAN RISE
East Lansing, MI – The Patient Company, a Grand Rapids-based medical device startup, has secured a follow-on investment from Michigan Rise Pre-Seed Fund III.
The Patient Company’s lead product, the SimPull, uses a powered winch and pull bar to facilitate the smooth movement and repositioning of patients in clinical settings. It’s designed to reduce the number of clinicians, nurses, and other staff traditionally required to reposition or transfer patients.
“Manual patient transfers are challenging, requiring significant labor and time, and they pose risks to both patient and clinician health,” said Matt Okoneski, Senior Venture Associate at Michigan Rise. “The Patient Company is seeing rapid adoption of their product, and we think their solution has a legitimate chance at disrupting the decades-old status quo for patient transfers.”
Co-founders Andrew Heuerman and Ryan Peters launched The Patient Company in August 2019 through Spectrum Health Ventures, in collaboration with clinicians at Spectrum Health. They became actively involved in the MSU Research Foundation's startup ecosystem through multiple engagements with Red Cedar Ventures and Spartan Innovations. In 2020, The Patient Company received an initial investment through the MSU Student Venture Capital Fund, facilitated by Red Cedar Ventures. That same year, the team was selected to participate in the inaugural Conquer Accelerator program through Spartan Innovations and received support from Spartan Innovations Grand Rapids Business Accelerator Fund. In 2022, The Patient Company secured its first investment from Michigan Rise, as well as a follow-on investment from Red Cedar Ventures.
In 2023 The Patient Company completed its second clinical study with Corewell Health. These studies have proven SimPull to be a feasible solution for lateral patient transfers while reducing the time required and reducing injury risk to both patients and staff. The Patient Company is now underway with their third and final study of SimPull for lateral patient transfer at the Mayo Clinic. In addition, SimPull has required the necessary FDA Approvals to begin sales.
With this latest follow-on investment from MI Rise, The Patient Company will begin fulfilling initial orders by beginning manufacturing. The funds will also go to support sales efforts, further product development, and research.
About Michigan Rise
Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.
About The Patient Company
Through the development and commercialization of new medical devices and products, The Patient Company aims to redefine what a medical device/product provider should be. The Patient Company is dedicated and focused on improving quality, clinical safety, and employee satisfaction, understanding that these goals are all centered around one clear task: providing clinical staff members with superior tools to better take care of their patients.