Infusion for Health, a network of ambulatory infusion centers, picked up $50 million in funding to accelerate its expansion into new markets.
The fast-growing company, based in Thousand Oaks, California, is focused on developing offerings that enable its infusion centers to engage both patients and providers earlier in the care process, the company said in a press release.
The funding round was led by Oak HC/FT with participation from existing investor Cimarron Healthcare Capital. Infusion for Health will utilize the investment to expand its offerings and geographic reach and further solidify its positioning as a comprehensive chronic disease management platform, executives said.
Infusion for Health provides adult and pediatric infusion services in Southern California, treating complex and chronic conditions such as multiple sclerosis, Alzheimer's disease, osteoporosis, Crohn's disease, ulcerative colitis and arthritis.
There is a growing market of outpatient infusion centers that offer an alternative to receiving services at a hospital infusion center or oncology clinic. Many of these companies aim to differentiate themselves by providing a more consumer-centric approach with modern clinics that feature perks like comfortable, private suites with oversized leather recliners and on-demand entertainment.
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Infusion for Health says it treats patients "like VIPs" by providing contactless check-in, private rooms and hassle-free appointment scheduling, canceling and rescheduling, according to the company's website.
The company prioritizes patient care, comfort and convenience while reducing the cost of care for patients and insurers alike, executives said.
"All patients deserve exceptional care in a safe and comfortable environment," said Dan McCarty, CEO of Infusion for Health, in a statement. "We are looking forward to partnering with Oak HC/FT, an investor that shares our commitment to reimaging how patients with complex and chronic conditions interact with their healthcare, to improve clinical outcomes while lowering costs."
In the past year, Infusion for Health has more than quadrupled the size of its business and geographic reach. It now covers more than 20 million lives in Southern California.
The company is growing at a more than 50% CAGR, with run-rate revenue north of $100 million and growing rapidly, PE Hub reported.
Outpatient infusion center operator IVX Health also is eyeing new markets in 2022 boosted by $100 million in fresh capital. The company's series F minority investment was backed by Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies. Great Hill joins IVX Health’s existing investors including Linden Structured Capital, McKesson Ventures, Health Velocity Capital and Nueterra Capital.
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Founded nine years ago, IVX Health is a national provider of infusion and injection therapy as an alternative to hospital-based services. The clinics serve patients with complex chronic conditions such as rheumatoid arthritis, Crohn's disease, multiple sclerosis and other conditions.
Currently, as many as 1 in 5 patients delay or avoid infusion therapy due to lack of appropriate access.
"Infusion for Health is creating a new standard in quality chronic disease management care," said Andrew Adams, co-founder and managing partner at Oak HC/FT. "We believe in Infusion for Health's vision of bringing high quality, low cost, and convenient solutions to more patients. We are proud to provide the resources to make this vision a reality and serve as a partner in this next phase of growth."