Recuro Health Announces Its $15 Million Series A Round Led by ARCH Venture Partners: Funds Additional Acquisitions Expanding Digital Health Solutions Capabilities, Increased Marketing, Company Growth
DALLAS–(BUSINESS WIRE)–Recuro Health (Recuro), an integrated digital health solutions company that transitions the U.S. healthcare system from a reactive, disease-focused model to a population health, outcomes approach, today announces a $15 million Series A financing led by ARCH Venture Partners, with follow-on support from existing Seed Round-investors OLSF Ventures, Cortado Ventures, 1843 Capital and Sage Venture Partners. Proceeds will be used to execute the Recuro ongoing acquisition strategy and expanded marketing, as well as to further build upon growth since the Company launch in March 2021.
Michael Gorton, CEO and founder of Recuro Health, says, “This new round of funding demonstrates our market-leading position in the digital health solutions space. The continued confidence of investors in our innovative approach to solving some of the most pressing challenges in healthcare and the strength of our management team will lead us forward in the year ahead. The relationship with ARCH is a significant, exciting part of this round, providing the opportunity to blend our traditional healthcare expertise with technology and life sciences.”
According to Robert Nelsen, co-founder and managing director of ARCH Venture Partners, “Recuro Health, led by the founding Teladoc team that helped create the digital health category over twenty years ago, is disrupting the traditional healthcare delivery system by advancing integrated care, risk stratification and diagnostics. Recuro is an innovative healthcare solution provider, with a business model that is bringing to reality improved outcomes and more efficient care.”
William D. Paiva, Ph.D., chairman of the board, Recuro Health and founding seed investor through OLSF Ventures, adds, “As we stated just five short months ago during the seed funding of Recuro Health, it is a rare moment in a venture capitalist career to fund such an exciting and market-changing opportunity with ostensibly the architects of the digital health industry.”
Recuro’s virtual health platform consists of a curated suite of digital solutions—from primary care and behavioral health to at-home testing and genetic screening. Fully customizable, these solutions can be tailored to meet the needs of any population, allowing patients to engage with physicians, receive more personalized care and monitor their own health — no matter their location or circumstance.
Gorton says, “Recuro healthcare solutions occur at the intersection of quality, access and affordability, delivering appropriate care at the right time and place. We empower earlier and more efficient interventions, supplement in-person care and provide a true mosaic of each member’s health and the efficacy of past interventions.”
He points to the Recuro Health COVID-19 rapid testing solution that has generated wide receptivity among the nation’s employers, including federal and state governments and corporate healthcare decision-makers.
Gorton concludes, “We are particularly gratified with our strong capabilities and responsiveness to assist with safe return-to-work requirements nationwide.”
About Recuro Health
Serving payers, employers and providers, Recuro Health is an integrated digital health solution that delivers value throughout the healthcare ecosystem as care moves from traditional office in-person settings to wherever the patient and data are located. Recuro solutions support the migration from convenient care to meaningful patient engagement across broader care pathways, creating a personalized, holistic digital medical home that results in better outcomes and lower costs. www.recurohealth.com
About ARCH Venture Partners
ARCH Venture Partners has co-founded and provided initial investments for more than 250 companies organized around innovations from research universities, national laboratories, corporate research groups, and entrepreneurs. ARCH has been at the forefront of investing in major areas of innovation in the life sciences and physical sciences, and has helped to catalyze revolutionary advances in genomics, nanotechnology, industrial biotechnology, and major disease treatments. www.archventure.com
About OLSF Ventures
OLSF Ventures (OLSF) is an early-stage health care and life science fund that has been operational since 2000. Since inception, OLSF has invested across all spectrums of health care and life sciences, from therapeutics, device, diagnostics, and tech enabled services. OLSF invests in the south, central US corridor. www.olsfventures.com
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News, Trends, Challenges in Specialty Pharmacy: Rx Drug Manufacturers, Benefits Decision Makers Find Solutions in AscellaHealth Developments in Specialty Pharmacy Newsletter
BERWYN, Pa.–(BUSINESS WIRE)–AscellaHealth, a global specialty pharmacy and healthcare solutions company, announces its innovative newsletter, Developments in Specialty Pharmacy, featuring insights, perspectives and solutions for utilization of expensive specialty drugs and gene therapies that address complex diseases, as well as orphan and rare disorders and in-depth, exclusive interviews with industry partners, such as the Muscular Dystrophy Association (MDA) and Dr. A. Mark Fendrick, M.D., director, Value-Based Insurance Design Center.
“We’re pleased to present this timely and robust issue of our industry-focused newsletter, which is filled with valuable information that impacts employers, plan sponsors, payers, manufacturers, providers, advocacy groups, government regulators and industry consultants,” says Dea Belazi, president and CEO, AscellaHealth. “Our team has gathered targeted and relevant specialty pharmacy industry content to help readers address an evolving—often complicated—marketplace where expensive treatments are straining the healthcare budgets of employer and payer communities and challenging pharmaceutical and biotech manufacturers to answer the call for innovative solutions with improved outcomes and alternative financing of high-cost specialty drugs.”
Newsletter spotlights:
- AscellaHealth recognized as an Inc. 5000, 2021 fastest growing company
- MDA’s significant impact on research and development for gene therapies for neuromuscular diseases
- Value-based and outcomes-driven approaches for specialty pharmacy spending
- Ongoing debate over cuts to 340B drug payments to hospitals, Federally Qualified Health Centers
- Multiple orphan products, generics and biosimilars inundating the market and strategies for ensuring appropriate drug utilization and care management
- FDA’s controversial approval of Biogen’s high-cost Alzheimer’s drug—and need for specialty pharmacy management to contain costs
- Industry consultants, AscellaHealth thought leadership, upcoming healthcare awareness events – and more
Belazi adds, “AscellaHealth proactively provides industry-specific education and information that empowers specialty pharmacy stakeholders to implement solutions that create accountability and predictability around these expensive treatments and therapies. With robust research and development underway, there will be growing pressures to introduce these specialty drugs and potential cures.”
About AscellaHealth LLC
AscellaHealth is a global Specialty Pharmacy and Healthcare services organization serving payers, providers, life sciences and patients, offering a comprehensive portfolio of customized, tech-enabled specialty pharmaceutical and medical management services. An Inc. 5000 2021 winner, AscellaHealth’s unique, patient-centric approach is built upon proprietary technology processes for innovative programs and services optimizing health outcomes and quality of life for patients with complex chronic conditions or rare diseases that require specialty medications and/or gene and cell therapies. Visit www.AscellaHealth.com.
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Telehealth’s Limits: Battle Over State Lines and Licensing Threatens Patient’s Options
By Julie Appleby
KHN.org—If you live in one state, does it matter that the doctor treating you online is in another? Surprisingly, the answer is yes, and the ability to conduct certain virtual appointments may be nearing an end.
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Health officials “keeping a very close eye” on COVID-19 Mu variant
By Li Cohen
CBSNews.com—As the Delta variant of COVID-19 continues its deadly sweep across the U.S., officials say that they are keeping a “very close eye” on a new variant that may be able to bypass existing coronavirus antibodies.
Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said on Thursday that the U.S. is taking the variant, dubbed Mu, “very seriously”, but that it hasn’t taken an extensive hold in this country.
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Sometimes Lawyers Can Improve A Patient’s Health When Doctors Can’t
By Jakob Rodgers
NPR.org—In her 19 years of living with cerebral palsy, scoliosis and other ailments, Cynthia Enriquez De Santiago has endured about 60 surgeries and her heart has flatlined at least four times.
But the most unusual doctor’s referral of her life came last year: Go see an attorney.
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Hospitals ramp up hiring, benefits offerings to counter the workforce shortage, survey says
By Dave Muoio
FierceHealthcare.com—With staffing shortages in full swing across the industry, many hospitals say they are focusing on hiring efforts and benefits offering in a bid to bolster and retain their workforces.
In a recent survey of 150 health systems from professional services firm Aon, 40% of respondents said they have accelerated hiring during the spring in response to growing demand.
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What can employers do if employees avoid COVID-19 vaccines?
By Associated Press
ModernHealthcare.com—Employers can require vaccination and fire employees who don’t comply with vaccine mandates, or take other actions such as withholding company perks or charging extra for health insurance.
Businesses for months have been encouraging workers to get vaccinated, in some cases offering incentives like time off or gift cards.
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AI May Not Be Ready to Accurately Read Mammograms
By Robert Preidt, HealthDay Reporter
USNews.com—Radiologists still outperform artificial intelligence (AI) when it comes to breast cancer screening, a new paper shows.
Many countries have mammography screening programs to detect and treat breast cancer early.
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Actuaries project future virus surges, end of regulatory flexibility key drivers in 2022 rates
By Robert King
FierceHealthcare.com—Uncertainty over future surges of COVID-19 and the end of regulatory flexibilities are going to be major drivers for 2022 premiums on the individual and small group markets, a new actuary report finds.
The report, released Thursday (PDF) by the American Academy of Actuaries, finds insurers face major uncertainties like the end of the public health emergency and the fate of enhanced subsidies for coverage on the Affordable Care Act’s (ACA’s) insurance exchanges.
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