Canadian health tech company PointClickCare launched Virtual Health, a telemedicine service for skilled nursing facilities that offers 24/7 access to hospitalists.

Virtual Health is being implemented in more than half of U.S. states with the assistance of its partner, Sound Physicians, a physician partner to hospitals, health plans, physician groups and post-acute providers.

"Telehealth is no longer a futuristic concept in long-term care, it's table stakes," Travis Palmquist, senior vice president and general manager of senior care at PointClickCare, said in a statement. "Our customers continue to navigate between care settings, and our team has sought to innovate and push the envelope on providing virtual care."

THE LARGER TREND

This summer, PointClickCare reached a valuation of more than $5 billion, up from $4 billion in early 2021. According to Crunchbase, the company has raised $230 million.

PointClickCare has also made several acquisitions. In early 2022, it purchased health IT company Audacious Inquiry. It's also scooped up companies like coordinated-care platform Collective Medical, post-acute care management company QuickMar, analytics tool Co-Pilot and post-acute care-focused COMS Interactive.

The company scrapped plans to go public several years ago after filing a registration statement with the U.S. Securities and Exchange Commission for an IPO in late 2015, announcing it closed a $85 million round of financing instead.