Text-based virtual care company 98point6 announced Thursday that it has raised more than $20 million to scale its new license offering.
The company also announced a strategic partnership with Washington-based MultiCare Health System, which will be the first to license virtual care technology for a hybrid primary and urgent care service called Indigo Health.
Existing investors participating in the capital raise include L Catterton Growth Fund and Activant Capital.
WHAT IT DOES
98point6 uses a text-based interface to deliver on-demand virtual primary care services. Patients can enter information about their symptoms and an automated assistant will connect them to a doctor who can use imaging, audio and video capabilities if necessary. Users can also receive prescriptions and lab orders.
The company added behavioral health support early last year and recently program expansion for youth.
“Health care is in a period of radical transformation – Jay Burrell, president of 98point6, said in a previous statement that the growth and cost reduction strategies of healthcare organizations, especially health systems, will no longer serve them. .
“Our team has learned a lot over the past seven years as an independent virtual clinic. I’m incredibly excited about this next phase of our business, as health systems take the edge. Use the 98point6 platform to deliver value to patients and their organizations in ways.”
SNAPSHOT . MARKET
Founded in 2015, 98point6 most recently raised two rounds of funding in 2020. It announced $118 million Series E round in October of that year, as well as $43 million Series D in April 2020.
Using Telehealth greatly expanded during the COVID-19 pandemic. Although the trend censored Since the early days of COVID-19, FAIR Health’s Monthly Remote Regional Health Monitor has found remote health accounted for 5.4% of all medical claim lines in May of this year.
There are a number of established companies as well as startups that offer virtual care, including TytoCare, eVisit and Launch.
Meanwhile, main player Teladoc Health posted nearly 10 billion dollars losses in the first half of the year. The virtual care giant has also expanding its primary care programPrimary360, with same-day drug delivery and home lab collection.
Amazon, which has recently made big health tech news, announced last week that it will shut down its Amazon Care telehealth program for employers at the end of the year. News follows the company’s heels deal to get Mixed primary care provider One Medical is worth approximately $3.9 billion.
