Humana has invested $ 100 million into Heal as part of a new strategic partnership between the two companies.
The Series D investment more than doubles Heal’s lifetime fundraise, bringing the house call and telehealth platform’s lifetime raise to around $ 170 million.
WHAT IT DOES
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Heal was founded in 2015 as an app that helped users coordinate doctor house calls. Although initially limited to Los Angeles, the company has expanded its reach over the past five years to supply its services throughout California, New York, New Jersey, Georgia, Virginia, Washington state, Maryland and Washington, D.C.
The company’s offerings have also evolved in that time. Its platform has grown to automatically handle doctors’ backend administrative work, as well as to support personal health record tools such as Apple Health. Just over a year ago it introduced telehealth follow-up appointments, and since the start of the COVID-19 crisis rolled out limited telepsychology services and a new subscription option with flat fees and no copays.
WHAT IT’S FOR
In addition to aligning the two companies’ interests and delivering Heal’s home care services to Humana members, the strategic investment will help Heal push into new regions including Chicago, Charlotte and Houston.
“Humana’s investment and strategic partnership are an irreplaceable catalyst to make doctor house call-based primary care an affordable and effective reality for all Americans. We’re honored to work with the entire Humana team so that one day soon all of us can open our doors to better care.”
MARKET SNAPSHOT
Heal’s longstanding strategy tech-enabled care at home has seen newfound support in recent years, and doubly so since the rise of COVID-19. These types of approaches come in several different forms that often have less of a focus on in-person visits. Examples include Tyto Care‘s virtual visits, which are informed by a connected stethoscope; provider-led remote monitoring programs such as Intermountain at Home or Medically Home; and any number of telehealth services offering primary care services.
ON THE RECORD
“The partnership with Heal is part of Humana’s efforts to build a broader set of offerings across the spectrum of home based care, with high quality, value-based primary care being a key foundational element,” said Susan Diamond, Humana’s segment president for home business, who is joining Heal’s board of directors as part of the collaboration. “We continue to see high levels of customer satisfaction and improved health outcomes when care is delivered in the home. Our goal is to make the healthcare experience easier, more personalized and caring for the people we serve – and is the hallmark of how Humana delivers human care.”