Corporate joint venture Echo Health Ventures led a $33m funding round that will help fund the home care access platform's expansion in the US.
US-based home healthcare provider DispatchHealth has secured $33m in a funding round led by Echo Health Ventures, the venture capital fund formed by healthcare providers Cambia Health Solutions and Mosaic Health Solutions.
The round included venture capital firms Questa Capital and Alta Partners as well as undisclosed strategic investors. Dusty Lieb, an investment partner at Echo Health Ventures, has joined the company’s board of directors in conjunction with the funding.
Founded in 2013, DispatchHealth runs a service that enables patients to request on-demand care to their homes after having their illness assessed virtually by a medical professional. Medical teams are available throughout the day through the platform including on holidays, and can be requested online, through an app or a phone call.
The company will use the funding to open more locations in the US, build out its treatments and further develop its mobile app and logistics platform.
DispatchHealth raised $30.8m in a September 2017 round co-led by venture capital firms Questa Capital and Alta Partners that also featured hospital manager Acute Care Solutions.
Mark Prather, co-founder and chief executive of DispatchHealth, said: “We are committed to helping all individuals receive the right care, at the right time, in the comfort of their own home or place of need.
“The financial support and strategic expertise of Echo Health Ventures will allow us to extend our current care model into longer-term, episodic interventions for individuals requiring more advanced treatment.”