Sprinter Health raises $55 million to expand health plans for family health services
It is a mobile healthcare provider, Sprinter Health, which has raised $55 million in Series B funding to help the company expand its team and footprint.
Sprinter Health, based in Menlo Park, California, works with the health program and provides home and virtual care. Its community-based health personnel, known as Sprinters and remote nurse practitioners provide diagnostic screening, vital examinations, drug management support, health access and care navigation. The sprinter is a W-2 employee and is certified for venous outcomes and is trained in the skills of medical assistants and community health workers. They can also identify unmet social needs such as fall risk or food insecurity and connect patients with resources to meet these needs.
“We are primarily concerned with people who are disconnected from the healthcare system: we are specifically involved in people who are not in contact,” Max Cohen, the company’s CEO and co-founder, said in an email.
The $55 million Series B round is led by general catalysts, including participation from the University of California, Google Ventures and Accel’s Andreessen Horowitz (A16Z) Bio+Health. In total, Sprinter Health raised more than $125 million.
“We believe Sprinter Health is becoming the company that defines the category in home care,” General Catalyst managing director Holly Maloney said in a statement. “They have built a technology infrastructure to provide scalability and impact for those who need it the most.”
Cohen said the financing will help Sprinter Health develop its clinical, engineering, AI and operations teams. The company will also add new geographic areas to provide more coverage for its payer partners. It currently operates in 18 states and plans to expand to 22 states by the end of the summer, the news said. The sprinter also completed nearly 100,000 visits to people.
Financing is a challenge when getting quality care and is often too expensive. That’s what Sprinter Health hopes to address with its internal and virtual care models, Cohen said.
“Because of the cost, distance or the inability to figure out the country’s complex healthcare system, it is becoming increasingly difficult to obtain only basic testing and screening for treatable diseases. … If you expand access under the status quo, the expenses will increase further and the already large internal water systems are added,” he said. “Private innovation capital allows for the development of alternative models that can bend these cost curves, and the success of our on behalf of payer partners will further innovate and invest in continuing to expand these solutions.”
Several other companies offer home and virtual care, including the recent acquisition of DispatchHealth, another home care provider, which is another home care provider.
Images: Feodora Chiosea, Getty Images
