Investment accelerates development of SaaS solution suite with API-based pharmacy and telehealth products
SAN FRANCISCO, March 11, 2024 (Globe Newswire) — Foundation Health, a pioneering healthcare technology company, today announced the closing of a $6 million seed funding round. Participants in this round, which propels Foundation Health into an exciting phase of growth, include industry leaders Garry Tan (CEO, Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/ Storm Ventures, and PageOne Ventures are backed by angel investors Paul Johnson (Lemonaid) and Meghan Fitzgerald (Grey Ghost Advisors).
Foundation Health is dedicated to redefining the consumer healthcare experience by enabling clients to quickly develop and deploy modern, digital-first pharmacy and telehealth solutions at scale. Featuring easy-to-integrate APIs and white-label products, the company enables health plans to disintermediate PBMs and take control of pharmacy services, facilitates direct-to-patient experiences for drug manufacturers, and enables digital health brands to We make it easy to launch innovative products. -Brand experience.
“Our vision is to grow Foundation Health into the definitive technology platform for powering and managing complex consumer healthcare operations around the world,” said Umar, Founder and CEO of Foundation Health. Afridi says. “With this funding, we are ready to accelerate product development, engage customers currently on our waitlist, and continue to engage with new customers to ensure we deliver exactly what the market needs. We are excited by the initial demand for our products and look forward to reaching profitability in approximately 18 months. ”
Foundation Health's products include three major B2B products:
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API for Telemedicine Prescription and Pharmacy Services: Seamlessly connect customers to a network of telemedicine providers and pharmacies for mail order delivery of prescriptions, same-day delivery, compounding, specialty drugs, veterinary drugs, durable medical equipment ( DME) technology platform.
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Virtual Pharmacy: A digital pharmacy SaaS product that allows any business to launch their own white-label, custom virtual pharmacy. Features include 24/7 pharmacist support, a variety of shipping options, and clear and transparent pricing that allows patients to choose between cash or insurance. Scalable options include telemedicine and clinical services such as brand-to-generic switching and his MTM, which can help improve adherence and ultimately improve health outcomes.
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Virtual Direct-to-Patient (DTP) Services: A complete solution for pharmaceutical manufacturers to launch products directly to patients. Fully white-labeled and customizable, it provides an intuitive and enjoyable patient experience end-to-end. DTP allows manufacturers to cut out the middleman, offer affordable prices without rebates, and seamlessly get medicines to those who need them.
“Patients want transparent pricing, low costs, and convenient access to care. These are not outrageous demands, but there are few solutions that meet them,” Afridi said. Million dollar builds are the enemy of innovation and progress. We are focused on providing affordable solutions built for speed and scale. Our services can be implemented within days, delivering unparalleled speed to market for our customers at significantly lower costs. than the alternatives. ”
Although Foundation Health's services currently span the US, UK and EU markets, the company's initial focus is on driving innovation within the US healthcare environment. For more information about Foundation Health and its healthcare solutions, please visit: www.foundationhealth.com.
About Foundation Health:
Foundation Health is a pioneering healthcare technology company on a mission to power the next generation of consumer healthcare experiences. Foundation Health provides technology-enabled pharmacy and telemedicine experiences at scale and affordability to help clients manage healthcare delivery, streamline operations, and improve healthcare for consumers around the world. We empower you to redefine your experience. Foundation Health is committed to innovation and accessibility, partnering with industry leaders such as Garry Tan (CEO of Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, and PageOne. I am receiving support. Ventures is backed by angel investors Paul Johnson (Lemonaid) and his Meghan Fitzgerald (Grey Ghost Advisors).
Media contact:
emily fox
press@foundationhealth.com
