This week, Columbus-based startup Redi Health announced it closed a $14 million Series B funding round. The round was led by Blue Heron Capital, with North Coast Ventures, Refinery Ventures, Mutual Capital Partners, Rev1 Ventures and M25 participating.
Redi Health bridges the gap between consumer technology and clinical health and support. The platform connects Pharma, providers and patients to improve health outcomes.
Current Patient Support Programs, typically provided by Pharma to patients and have a significant impact, are outdated and challenging to access. They rely on outdated technology like phone and fax communication and require a healthcare provider to enroll patients using a physical enrollment form. The result is a 70% non-adherence rate, and an estimated annual revenue loss of $637 billion for the pharmaceutical industry.
With Redi Health, patients get daily medication reminders, symptom management, diet and nutrition advice, weight and activity tracking, and health literacy and education. By integrating Pharma support with brand-specific content, condition-focused trackers, and digitally accessible financial assistance, as well as enrollment into Patient Support Programs, Redi Health has created a fully connected ecosystem that keeps all parties up to date.
"We are at a pivotal moment in healthcare, where technology integration can significantly enhance patient care and outcomes," Luke Buchanan, Co-Founder, and CEO of Redi Health stated in a press release. "This new financing is a testament to the hard work of our team and the support of our investors. With Blue Heron Capital's backing, we are poised to bring new products to market, expand our reach, and continue to innovate at the intersection of technology and healthcare. Our goal is to make comprehensive, patient-centered care accessible to millions more across the country."
Jim Clair, a Blue Heron Capital OA Collaborative member, will join Redi Health's Board of Directors as part of the Series B funding.
"Redi Health's innovative approach to digital healthcare sets them apart in today's rapidly evolving industry. We are impressed by Redi Health's commitment to improving patient outcomes and their ability to scale effectively," said Jim Clair in the press release.
Already, Redi Health has reached millions of patients across the country, becoming a leader in the digital health space, but the company has its eyes set on more growth. Redi Health plans to use the financing to accelerate innovation, develop and launch new products, expand its network and accelerate overall growth.
To learn more about Redi Health and view their jobs, visit www.redi.health
