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Investment Accelerates the Development of SaaS Solutions Suite Featuring API-based Pharmacy and Telehealth Products
SAN FRANCISCO, March 11, 2024 (GLOBE NEWSWIRE) — Foundation Health, a pioneering healthcare know-how firm, in the present day introduced the closure of a $6 million seed funding spherical. Propelling Foundation Health into an thrilling section of progress, individuals within the spherical embrace trade leaders Garry Tan (CEO, Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, and PageOne Ventures, with help from angel traders Paul Johnson (Lemonaid) and Meghan Fitzgerald (Grey Ghost Advisors).
Foundation Health is devoted to redefining the buyer healthcare expertise by empowering purchasers to rapidly develop and launch fashionable, digital-first pharmacy and telehealth options at scale. Featuring easy-to-integrate APIs and white-label merchandise, the corporate permits well being plans to disintermediate PBMs and take management over pharmacy providers, facilitates direct-to-patient experiences for pharmaceutical producers, and empowers digital well being manufacturers to simply launch revolutionary, on-brand experiences.
“Our vision is to grow Foundation Health into the definitive tech platform for powering and managing complex consumer healthcare operations globally,” mentioned Foundation Health founder and CEO, Umar Afridi. “With this funding, we are equipped to accelerate product development, onboard customers currently on our waitlist, and continue engaging with new customers to ensure we’re delivering precisely what the market needs. We are thrilled by the initial demand for our products and anticipate reaching profitability in approximately 18 months.”
Foundation Health’s choices embody three core B2B merchandise:
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APIs for Telehealth Prescribing and Pharmacy Services: A tech platform that seamlessly connects purchasers to telehealth suppliers and a community of pharmacies to offer prescription mail order supply, same-day supply, compounding, specialty medicines, veterinary medicines, and sturdy medical tools (DME).
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Virtual Pharmacy: Digital pharmacy SaaS product that allows any firm to launch their very own white-label, customized digital pharmacy. Features embrace pharmacist help 24/7, a wide range of supply strategies, and clear, clear pricing that permits sufferers to decide on between money or insurance coverage. Expandable choices embrace telehealth and scientific providers resembling brand-to-generic switching and MTM to assist enhance adherence and, finally, well being outcomes.
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Virtual Direct-to-Patient (DTP) Service: An entire resolution for pharmaceutical producers to launch merchandise direct-to-patient. Fully white-label and customizable to ship an intuitive, pleasant affected person expertise end-to-end. DTP permits producers to take away the intermediary, set inexpensive pricing with out rebates, and seamlessly get remedy to those that want it.
“Patients want clear pricing, lower costs, and convenient access to healthcare. These are not outrageous demands, yet solutions that meet them are few and far between,” said Afridi. “At Foundation Health, we believe traditional multi-month, multi-million dollar builds are the enemy of innovation and progress. We’re focused on providing affordable solutions that are intentionally built for speed and scale. Our services can be implemented within days, offering unparalleled speed-to-market for our clients at substantially lower costs than alternatives.”
While Foundation Health’s providers presently span the US, UK, and EU markets, the corporate’s preliminary focus might be on driving innovation inside the US healthcare panorama. For extra details about Foundation Health and its healthcare options, go to www.foundationhealth.com.
About Foundation Health:
Foundation Health is a pioneering healthcare know-how firm on a mission to energy the subsequent technology of shopper healthcare experiences. By delivering inexpensive, tech-enabled pharmacy and telehealth experiences at scale, Foundation Health empowers purchasers to take management of healthcare supply, streamline operations, and redefine the buyer healthcare expertise worldwide. With a dedication to innovation and accessibility, Foundation Health is backed by trade leaders together with Garry Tan (CEO, Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, and PageOne Ventures, with help from angel traders Paul Johnson (Lemonaid) and Meghan Fitzgerald (Grey Ghost Advisors).
Media Contact:
Emily Fox
Press@foundationhealth.com
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