Tech-backed PBM SmithRx scores $20M and extra digital well being fundings

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Tech-backed pharmacy profit supervisor SmithRx scooped up $20 million in a Collection B funding spherical led by Venrock, with participation from current traders, together with Founders Fund.

The corporate pitches its Drug Acquisition Platform as a method to supply lower-cost drugs, so its employer clients can save on their healthcare spend. In line with SmithRx, the platform makes use of algorithms for every declare to search out the lowest-cost choice based mostly on pharmacy distribution, scientific administration, rebates and particular applications.

“The dearth of visibility into pricing, mixed with ever-increasing drug prices, calls for a contemporary and novel strategy,” Bryan Roberts, a associate at Venrock, stated in an announcement.

“What the crew at SmithRx has constructed over the past six years is delivering on its promise to save lots of clients cash, enabled by expertise and empowered by transparency. We sit up for partnering with the SmithRx crew on their firm constructing journey.”


Avant-garde Well being scored $12 million in Collection A funding and introduced the launch of its CareMeasurement analytics platform for surgical care.

The spherical was led by Fulcrum Fairness Companions with participation from Common Catalyst, Founder Collective, Tectonic Ventures, Sparta Group and particular person former well being system and doctor group leaders.

The platform measures the price of care, follows scientific outcomes, compares knowledge for various remedies and gives insights from different suppliers so well being techniques can enhance their surgical procedures and different procedures. The startup will use the funding to rent new staffers and broaden their platform to extra well being techniques. 

“It was clear healthcare suppliers wanted higher analytics to tell their care, which I additionally noticed by means of the experiences of my household. My mother and father, brother and sister are all physicians. We are actually working with dozens of hospitals throughout the nation. The Collection A funding will allow us to empower much more healthcare suppliers with the absolute best care enchancment analytics,” CEO Derek Haas stated in an announcement.


Canadian care navigation startup Clinia raised C$5 million in a seed funding spherical led by AQC Capital with participation from Anges Québec, Groupe Benoit, Kastello and Formentera Capital.

The corporate’s choices embody a search instrument that works with organizations like Teladoc and Telus Well being to direct sufferers to assets and supply personalised outcomes.

“Discovering the correct useful resource – whether or not that be info, assist, a care supplier – is the essential first step in each care journey,” CEO Simon Bédard stated in an announcement.

“Naturally, individuals belief the prevailing relationship with their care networks so enabling these organizations to construct a trusted ecosystem and be the primary level of contact for his or her wants is vital.”

Clinia will use the seed funding to broaden its crew and scale its development into the U.S.


Psychological well being supplier market Legion Well being introduced it has raised $2 million in seed funding. 

The seed included participation from angel traders Erica Johnson, cofounder of Trendy Well being, Dr. Ravi Shah, chief innovation officer of Columbia Psychiatry, Jeffrey Leerink, CEO of SVB Leerink and Jay Desai, former CEO and founding father of PatientPing. Y Combinator, UpHonest Capital and Soma Capital additionally invested.

The startup’s platform will match psychological well being clinicians with telehealth corporations, hospitals and different healthcare organizations that want suppliers.

“We’re not only a smarter staffing firm,” cofounder and COO Daniel Wilson stated in an announcement. “We’re utilizing expertise to resolve a tough logistics downside. By constructing a market to ship clinicians’ time, well being care organizations can higher scale their psychological well being choices to service their ever-growing affected person demand.”



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