BOSTON–HBox, a leading virtual care platform for specialty practices, has announced a growth investment from Charlesbank’s Technology Opportunities Fund II. The investment comes at a time when specialty practices are increasingly seeking innovative solutions to extend treatment beyond traditional clinic settings, especially amid the rising prevalence of chronic diseases. The transaction, which closed on December 17, 2025, will enable HBox to advance its mission of transforming care delivery for high-risk chronic conditions.
Under the leadership of co-founders BanuPrasad Dhanakoti (Chief Executive Officer), Sandeep Subramanya (Chief Operating Officer), and Mohammed Ali (Chief Revenue Officer), HBox offers an integrated, AI-powered virtual care platform. This platform utilizes connected medical devices and advanced patient-engagement tools, effectively creating what the company describes as a “virtual clinic within a clinic.” This innovation is particularly beneficial for cardiology, pulmonology, nephrology, and other specialty clinics, as it allows them to provide seamless care outside of in-person visits.
The investment will bolster HBox’s capability to manage real-time patient vitals, actions, and clinical documentation within a unified system. This operational efficiency is crucial for physicians managing large populations with chronic conditions while ensuring high-touch patient care. “Today marks an important step forward for HBox and for the patients and clinicians we support,” Dhanakoti stated. He added that timely monitoring and personalized care plans can significantly improve hospitalizations for cardiac patients and enhance daily condition management for families.
Charlesbank’s Michael Zirngibl, Principal at the firm, emphasized the importance of preventative, virtual, and continuous care in improving healthcare outcomes and managing costs. “We are excited to back Banu, Sandeep, Mo, and the team as they continue to expand HBox’s innovative virtual ‘clinic within a clinic’ offering,” Zirngibl remarked.
Hiren Mankodi, Co-Head of Charlesbank’s Technology Opportunities team, pointed out that while remote monitoring and virtual care are becoming standard in many medical specialties, most practices still lack the necessary technology and staffing to implement these programs independently. He highlighted HBox’s unique combination of software and services as a scalable infrastructure to meet these needs.
Since its inception, HBox has achieved a rapid pace of innovation and a commitment to high service quality, leading to accelerated customer growth and improved patient compliance rates. As of now, HBox stands as a mission-critical partner for independent specialty practices across the United States.
Kaizen Equity Partners served as the exclusive financial advisor to HBox, while K&L Gates acted as its legal counsel. Brown Gibbons Lang & Company advised Charlesbank, with Mintz and McDermott Will & Schulte providing legal counsel.
About HBox: HBox is a virtual care platform that partners with specialty practices to manage high-risk cardiac and chronic patients between visits. By leveraging its AI-powered platform, connected medical devices, and advanced patient engagement tools, HBox enhances the delivery of continuous care while minimizing the burden on clinic staff.
About Charlesbank: Founded in 1998, Charlesbank Capital Partners is a prominent middle-market private investment firm with around $24 billion in assets under management as of September 30, 2025. The firm takes a thematic approach to investing across various sectors, including healthcare and technology, partnering with management teams to unlock value and accelerate growth.
As healthcare continues to evolve, HBox’s innovative approach could play a pivotal role in shaping the future landscape of specialty care, emphasizing the importance of virtual solutions in enhancing patient outcomes.
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