NORTHAMPTON, MA / ACCESSWIRE / June 8, 2023 / Koch Industries
Koch Disruptive Technologies (KDT) is leading a $30 million Series B funding round into Oshi Health, the virtual specialty care company transforming gastrointestinal (GI) health outcomes and economics.
BY THE NUMBERS:
- In a clinical trial conducted by a national health plan in a large commercially insured population, 92% of Oshi Health patients reported symptom improvement, with 98% satisfaction.
- In just six months, Oshi helped save $10,292 per patient in all-cause medical costs.
- The company says these results have driven more payers and employers to reimburse access to Oshi Health as a covered benefit, and this funding will help sustain that momentum in the market.
- Currently available to more than 20 million people as a preferred in-network virtual GI clinic for national and regional insurers, Oshi has partnerships with community GI practices and a recent collaboration with Aetna, a CVS Health company.
WHY KOCH INVESTED: "We've seen the impact of Oshi Health's unique care model, and we want to be part of helping health plans and employers understand the significant potential of its virtual multidisciplinary digestive care," says David Mauney, managing director of Koch Disruptive Technologies. "We are excited to help scale access to Oshi's best-in-class virtual clinic and proven outcomes, which have given them the clear market lead."
WHY IT MATTERS: Unmanaged digestive symptoms are the top cause of emergency department treat-and-release visits, according to Oshi. Digestive disorders affect 1 in 4 Americans and drive $135 million in annual costs in the U.S. - a more significant impact than diabetes and mental health.
- "We've paved the way for broad access to proven treatments that our traditional healthcare system is not structured or incentivized to provide, while building value for patients, employers, health plans and provider groups," says Oshi Health CEO Sam Holliday. "Our investors are collectively funding the change-makers in the most crucial categories of healthcare. They see the transformation opportunity and urgency in digestive care as clearly as we do, and we're proud to have them back our mission to free millions of Americans from their struggle with digestive symptoms and conditions."
- In addition to KDT, others funding the round include existing investors Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures and Takeda Digital Ventures.
Learn more about the investment here.
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SOURCE: Koch Industries
View source version on accesswire.com:https://www.accesswire.com/760075/KOCH-INVESTS-Value-Based-Virtual-Digestive-Care
