Telemedicine provider Carena has scored $13.3 million from Cambia Health Solutions and McKesson Ventures, as well as Health Initiatives (CHI) and Martin Ventures to develop its Virtual Clinic solutions for hospital systems.
This financing round follows Carena’s recent announcement that four new health system partnerships launched in 2015: UW Medicine in Seattle, WA; INTEGRIS Health in Oklahoma City, OK; Froedtert & the Medical College of Wisconsin in Milwaukee, WI; and Hospital Sisters Health System in Springfield, IL. Additionally, two new health system partners, University of Iowa Healthcare in Iowa City, IA and OSF HealthCare in Peoria, IL, have launched virtual clinics in the past month.
The company’s virtual clinics extend health systems’ services and build their reputation with top quality virtual care from board-certified clinicians. This model ensures convenience and affordability for common conditions such as cold, pink eye, cold sore, rash, flu, sore throat, and urinary tract infection. And when asked, 97 percent of patients reported they would use the service again.
Adoption of telemedicine is gaining support from the investment community and policymakers. Telemedicine funding reached $300 million in aggregate in 2014, a 315% increase compared to the previous year, according to Rock Health. In addition, with the passage of new legislation, 27 states and the District of Columbia now have laws in place designed to reimburse telemedicine in the same manner as in-person visits.
Carena is on track to more than double its revenue in 2015 and continue to increase customer base with new health system partnerships.