Solera Well being, a healthcare expertise firm, has raised $40 million in Sequence E financing to develop entry to digital well being assist, the corporate introduced on Tuesday. As well as, Interim CEO John Santelli will formally assume the position of CEO.
Phoenix, Arizona-based Solera Well being is a digital well being firm that works with payers and employers to assist match members and workers to level options. Utilizing the corporate’s HALO Platform, prospects can handle all of their contracted level options in a single place, whether or not they’re a part of Solera’s community or their very own contracted options. Workers or members also can entry all of their advantages by way of one web-based interface.
Solera Well being’s Sequence E funding spherical was co-led by Well being Care Service Company (HCSC), an insurance coverage firm that serves greater than 23 million individuals. The opposite co-lead investor has opted to not be disclosed. Adams Avenue, Cobalt Ventures, and Horizon Mutual Holdings, Inc. additionally participated within the financing spherical. In complete, Solera Well being has raised $160 million.
“This funding is aligned with our mission to develop entry to high quality, reasonably priced well being care throughout the US,” mentioned Arun Prasad, government vice chairman, chief technique officer and president of diversified companies for HCSC, in a press release. “The Solera platform has capabilities that enable people to extra simply entry the correct well being tech options on the proper time based mostly on their individualized care wants.”
With the financing, Solera Well being will additional spend money on its HALO platform, which launched in 2023. The corporate can even develop its on-benefit digital community by greater than 100 specialty and different digital suppliers, in addition to enhance its analytics and AI capabilities, based on Santelli.
When requested what the corporate’s exit technique is, Santelli famous that an exit just isn’t Solera’s major focus in the intervening time. As an alternative, the corporate is “investing in progress and increasing our options to ship effectivity and worth to payers and a rising variety of employers and level answer distributors throughout the digital well being ecosystem,” he mentioned.
Santelli added that in his new place as CEO, he hopes to assist make the healthcare system extra sustainable. Previous to becoming a member of Solera in March, he was chief info officer at UnitedHealth Group.
“In the end, I need to construct a first-of-its-kind complete system that permits organizations to configure digital, on-benefit care – on-benefit,” he mentioned in an e mail. “Our digital supply system will harness knowledge and analytics and an built-in EHR system to seamlessly join with on-premises brick-and-mortar care. Now we have the distinctive skill to steer people again to the correct in-network brick-and-mortar care and collect and guarantee all care suppliers have visibility to affected person knowledge spanning modalities.
“There’s an actual alternative to remodel digital care from a sequence of fragmented, particular person situation options into an organized supply system that’s nationwide in protection, nearly immediately accessible, and presents high-quality care at decrease prices,” he continued.
Solera Well being just isn’t the one firm that helps employers handle level options. Others embrace Quantum Well being and Accolade, which simply introduced that it’s being purchased by Transcarent.
Photograph: sorbetto, Getty Photographs