Circle Medical says $14M from WELL Well being will allow low-cost telehealth app utilization

Circle Medical says $14M from WELL Health will enable low-cost telehealth app usage

Circle Medical on Wednesday introduced that it had obtained a majority management funding of $14.three million from the Canadian agency WELL Well being Applied sciences. 

The money, says the corporate, will enable Circle and WELL to supply 200 million folks in the US help for the usage of Circle’s telehealth app both for no price or a small co-pay. The telehealth platform is at the moment accessible to be used in 35 states.

Circle representatives say the transfer can even enable Canadian physicians who’re licensed within the relevant states to supply care to sufferers just about throughout the border. As a result of Circle Medical is affiliated with the College of California, San Francisco, and on contract with most main insurance coverage firms, the representatives mentioned, the corporate can invoice the related insurer.

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“We’re excited on the prospect of partnering with WELL to assist us quickly scale our telehealth expertise and develop market share in the US,” mentioned George Favvas, co-founder and CEO of Circle Medical, in a press release. 

“Given the unprecedented circumstances with the COVID-19 pandemic, we imagine now greater than ever is the time to innovate and create distinctive healthcare experiences,” mentioned Favvas.

WHY IT MATTERS

In response to its web site, Circle’s telehealth platform can be utilized to deal with a wide range of circumstances, together with diabetes, urinary tract infections, hypertension and extra.

Circle is in community for a wide range of main insurers, together with Humana, Blue Cross Blue Defend and Aetna. For these with out insurance coverage or whose insurance coverage just isn’t accepted, utilizing the telehealth providers prices a $100 flat charge. 

Affected person languages accessible embrace English, Spanish, German, French, Farsi and Mongolian.  

The seller says that it depends on synthetic intelligence to create a greater affected person expertise and that it’s going to use the funding from WELL to proceed creating expertise.

“This acquisition will present each U.S. and Canadian residents extra entry to distinctive healthcare experiences throughout an unprecedented time the place healthcare innovation is extra essential than ever,” mentioned Favvas.

THE LARGER TREND

Regardless of a dip in latest months, demand for telehealth has skyrocketed total because the begin of the COVID-19 pandemic. 

Buyers have adopted the development: Final month, telehealth big Amwell filed to go public, fueled by $100 million from Google’s cloud division.

“This can be a important partnership for the healthcare trade and has the potential to dramatically remodel the telehealth area by way of the usage of fashionable cloud applied sciences,” Thomas Kurian, CEO of Google Cloud, mentioned in a press release final month.

ON THE RECORD

“We’re thrilled to welcome Circle into the WELL household and know that this can proceed to drive healthcare innovation whereas offering top-tier healthcare experiences to each Canadians and People throughout a time when higher healthcare is so desperately wanted,” mentioned Hamed Shahbazi, chairman and CEO of WELL, in a press release offered to Healthcare IT Information.

Kat Jercich is senior editor of Healthcare IT Information.
Twitter: @kjercich
Healthcare IT Information is a HIMSS Media publication.





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