San Diego Business Journal: AristaMD raises $18 Million in Series B round funding
APRIL 21, 2020 – As telehealth resources increase in demand to meet patient population care needs, AristaMD’s eConsult platform receives series B funding to accelerate growth. Read more about the round, the eConsult solution, how eConsults support healthcare organizations amidst COVID-19, and the patient response.
Featured in San Diego Business Journal, April 2020
As of March 6, just 6% of primary visits at UC San Diego Health were virtual. Recently that percentage became more than half, according to Epic, the nation’s largest electronic health records company. That number and other similar ones from around the country are boosting AristaMD’s plans for it eConsult platform as it further establishes itself in the virtual and telehealth space.
“eConsult has absolutely never been busier,” said AristaMD Inc.’s CEO Brooke LeVasseur. “In the last two weeks, we’ve had more calls than in the last five years.”
AristaMD, a digital health company that provides a proprietary eConsult solution to connect primary care providers (PCPs) with timely, documented specialist insights has raised $18 million in a Series B funding.
According to AristaMD, the round was led by Cigna Ventures and MemorialCare Innovation Fund, with participation from Avalon Ventures, CU Healthcare Innovation Fund and Stanford Health Care. AristaMD plans to accelerate expansion of its eConsult platform across the country, the company said.
“Specialist referral wait times currently plague the U.S healthcare system,” said Brant Heise, managing director of MCIF. “AristaMD’s eConsult solutions provide a mechanism to better match the acuity level and clinical needs of the patient with the right provider and setting.”
‘Virtual First Solution’
The backers are looking to expand care efficiently. “Cigna is squarely focused on improving access to affordable, predictable and simple care — quickly and efficiently connecting customers to the most effective health care providers, how, when and where they need it,” said Tom Richards, global lead strategy and business development at Cigna. “Our partnership with AristaMD, and its virtual-first solution, will accelerate how we deliver on that promise, working together to drive greater connectivity between primary care providers and extensive networks of specialists to improve outcomes and lower costs for the people we serve.”
AristaMD said, “we are committed to continue working toward our goal of transforming primary care to improve population health outcomes by improving and better allocating healthcare resources.”