Yesterday morning, healthcare transportation company Roundtrip announced that it scored an extra $4 million in capital. The round was led by Motley Fool Ventures, with participation from Zoll Medical Corporation, UH Ventures and Gray Ferry Capital.
This is an add-on to the $5.1 million round they announced in May of 2019.
WHAT THEY DO
The company focuses on providing patients rides to medical visit. The way it works is healthcare professionals are able to request a non-emergency medical transportation for a client or patient.
The service was designed to work for patients with a range of mobility. It can offer the standard rideshare option, as well as medical sedans, wheelchair vans and stretcher vehicles.
The patient will get texts when a ride is requested for them, as well as information about the estimated time of arrival.
WHAT IT’S FOR
The company said the new funds will be put towards growing its geographical footprint and its sales force. It plans to build up its portfolio of health plans and technology integrations.
MARKET SNAPSHOT
Healthcare transportation is a hot topic in digital health. Rideshare giants Lyft and Uber have even jumped into the game.
Lyft landed approval as a Medicaid provider in Arizona as a nonemergency medical transport service.
Last year Uber Health inked a deal with medical-supply company Henry Schein Medical and Medpod, in order to provide a service that lets doctors conduct remote exams. As part of the deal, doctors using Medpod’s telemedicine diagnostic platform will be able to tap into Uber Health to send a trained practitioner out to a patient, or send a patient to a clinical location and perform a remote exam.
ON THE RECORD
“In the midst of an ongoing pandemic, this funding is continued validation of our focus,” said Roundtrip CEO and founder Mark Switaj. “The future is in disease-state transportation solutions, and our outcomes-based view crosses COVID-19, the opioid crisis, cardiology, radiology, and cancer care, plus behavioral health and more. With missed appointments costing our nation’s healthcare system $150 billion every year, it’s important to understand the riders and how transportation needs differ. Our marketplace model is making a real difference for our customers, their preferred transportation options, and their patients. The strategic investments from ZOLL Medical Corporation, a leader in medical devices and related software solutions that help advance patient care, and University Hospitals, one of the largest health systems in Ohio, is further affirmation of our product and the place it has in driving better health.”
