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Established: 2017; acquired last year by Indianapolis-based Boomerang Ventures for commercialization
Top executives:
- Jennifer Holmes, CEO
- Navin Dewagan, chief technology officer
- Jeff Garibaldi, chief marketing officer
Equity raised: Precision Care raised $1.2 million in a non-diluted capital round before the company’s acquisition. Boomerang Ventures put in $250,000 in the pre-seed round and is raising an additional $500,000 in the pre-seed round at a $2 million valuation.
2024 revenue: none
Projected 2025 revenue: none
Employees: 4
Location: Indianapolis
Affiliation: Indiana University School of Health & Human Sciences
Patents: The technology is backed by two U.S. patents awarded to Indiana University Research and Technology Corp. in 2022. In 2023, Boomerang Ventures acquired the intellectual property from Health Smart Technology, an Indiana University startup.
What does the company do? Precision Care’s technology provides physical therapists, chiropractors, athletic trainers and others with precise, quantifiable data related to soft-tissue manipulation. The technology provides real-time, measurable therapy metrics—force, angle, area and cadence—that help clinicians provide consistent, personalized care.
What problem is it trying to solve? An estimated 63 million work, sport and other injuries—many of them musculoskeletal—occur annually in the United States, resulting in $1.28 trillion in costs. In addition, about 70% to 80% of all physical therapy visits involve soft tissue manual manipulation. Still, Precision Care says manual therapy remains largely subjective, with limited tools available to measure treatment history, process and outcomes.
Latest news: In February, Jennifer Holmes was named CEO.
Why Precision Care made the list: Holmes comes to Precision Care from Rehab Boost Inc., where she guided the company through a merger and acquisition. She has also held leadership positions at major health care and medical technology firms, including Boston Scientific, Guidant Corp. (acquired by Abbott Laboratories), The Spectranetics Corp. (acquired by Royal Philips), MedAssets (acquired by Vizient) and Central Logic (rebranded as About Healthcare).•
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