New Investment to Fuel Growth of Market Leading Behavior Change Platform
Solana Beach, CA — April 2, 2013 — Viverae Health® Solutions, Inc., the leading behavior change platform company improving health outcomes and the cost of care for patients, providers, payers and employers, today announced the successful closing of a $9 million series B funding round.
The company will use the new funds for sales and marketing expansion to capitalize on its current business opportunities and expand the platform to support more of the total medical and behavioral spend related to chronic conditions that drive the largest costs to the health system. To date, the company has raised a total of $16 million in equity capital.
The round was led by existing investor Lemhi Ventures, a venture capital firm specializing in healthcare services companies that use innovative products to drive disruptive change in the delivery of healthcare.
Viverae Health uses a series of game mechanics, social networking, peer support communities and clinical protocols to engage and empower participants to achieve health goals related to modifiable risks, behavioral health and chronic disease. The private, HIPAA-compliant Social Solutioning® platform provides support for a wide range of chronic behavioral and medical conditions, and includes access to peer health coaches, community managers, expert discussions and live online meetings to drive positive behavior change.
Jodi Hubler, Managing Director at Lemhi Ventures and Chairperson of Viverae Health commented, “Integrating behavioral and medical chronic conditions into a single technology-enabled service platform where patients can manage the multiple conditions that affect their own health has proven to drive significant benefit to the health system. Viverae Health is solidifying their leadership position in this rapidly emerging market, and Lemhi is committed to Viverae Health’s goals of reducing the costs of healthcare in terms of operational and medical savings.”
Added Bruce Springer, CEO of Viverae Health, “This additional capital investment by our existing investor team is an exceptional vote of confidence in Viverae Health. The company has benefited significantly from their insight in building healthcare technology companies, and we look forward to continuing to lead the market adoption of behavior change solutions. This latest round of funding will allow us to move rapidly to continue expanding the platform to support additional chronic medical conditions, accelerate revenue growth in our core business, enhance the support for our channel partners and take advantage of new market opportunities.”
Numerous leading U.S. health plans, employers, and provider organizations, including Aetna, Magellan, Memorial Hermann, Amerigroup, Safeway and Carlson are using Viverae Health’s integrated behavior change platform to engage and empower thousands of people to make healthier decisions.
About Viverae Health Solutions, Inc.
Viverae Health is the leading behavior change platform for the healthcare industry via a technology-enabled services model that lowers the costs of care management and provides greater outcomes for chronic patient populations. Our web and mobile-based Social Solutioning® program influences positive behavior to improve health and deliver measurable value through a patented combination of social-networking technology, evidence-based clinical principles and engaging game mechanics. For additional information visit www.onehealth.com.
Viverae Health Solutions, Inc.
Chief Marketing Officer
Myla Wagner Public Relations