House calls from doctors haven’t been the norm for quite some time. But Los Angeles-based startup Heal is looking to bring at-home care to more people with its new round of funding.
The company announced Wednesday that it raised $100 million in its Series D round from health insurance giant Humana.
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Heal offers house calls with doctors for primary care, along with video appointments, telepsychology services (only in California), and digital monitoring services. The Series D round brings Heal’s total funding to $200 million and gives the company a post-money valuation of at least $300 million, according to Heal CEO Nick Desai.
With the new funding, Heal plans on expanding into new markets in the United States, including Chicago, Charlotte and Houston. It’s already available in areas like New York, Washington, California, Georgia, and Washington, D.C.
“The biggest winner in this investment … is the millions of people who will get more access to health care from the safety and comfort of their home,” Desai said in an interview with Crunchbase News.
“We’re looking at innovative services, innovative technologies that will move it more and more to predictive data-driven health care and new markets,” Desai said.
Heal had been looking to raise money and began talking to Humana back in December, Desai said. Humana and Heal clicked because of their shared vision of the power of home-based care. By partnering with Humana, Heal will have access to patients to accelerate its growth, along with the insurance company’s capital and expertise.
“To meet (an insurance company) that has such a strategic devotion to home-based care, we looked at that as so much more than the capital,” Desai said.
Some people have been opting for at-home primary care since the COVID-19 pandemic broke out and many people have largely stayed at home. Heal has seen its telemedicine services grow 800 percent and house calls have increased between 30 percent and 35 percent, Desai said. The major learnings for Heal from the experience is that home is the best place for primary care, and that chronic diseases need to be better managed and mitigated, according to Desai.
Illustration: Dom Guzman