NEW YORK, June 21, 2021 / PRNewswire / – Ride Health, which offers smarter transportation options for every patient need, announced the completion of one today $ 10 million Financing round led by Topmark Partners. The round also includes equity investments from the new investor Excelerate Health Ventures and debt financing from Bridge Bank, as well as the participation of all members of the existing investor consortium led by Activate Venture Partners and Newark Venture Partners. The funding follows a record year of growth for Ride Health in 2020 as the company expanded its operations to 41 states while more than quintupling in response to the increased need to support access to health care for vulnerable and underserved populations Social services.
Founded to modernize the analog approach of the non-emergency medical transportation industry (NEMT) to ride coordination, Ride Health provides an end-to-end transportation solution that automates trip planning, ride communication and performance management through a national network of ride-on services , Taxi companies and NEMT providers. The company works with health insurers, healthcare providers, and life science organizations to manage transportation benefits and corporate programs that focus on improving clinical outcomes for populations facing transportation obstacles.
Ride Health’s web-based platform is built on deep integrations with the dispatch software used by transportation providers today, so the product provides real-time visibility into the range of vehicle types and service levels required to effectively serve complex populations . The company uses these inputs to support data-driven approaches to benefit design, performance management, and ride interventions that align NEMT market incentives, reduce administrative burdens, and improve the patient experience.
“The distribution of care to home and community facilities has accelerated over the past year, with seamless mobility for patients and staff emerging as a key infrastructure,” said Imran Cronk, CEO and Founder of Ride Health. “Our patient-centered and agile approach has enabled Ride Health to lead this future. We appreciate the support of our partners and investors in accelerating our mission to ensure that every patient has access to care and social resources. “
Ride Health plans to use the proceeds from this round to continue investing in expanding its national transportation network, performance management system and platform APIs, which are central to enabling value-based transportation approaches. The company’s industry-leading mobility infrastructure enables entirely new ways to offer patient transportation, from claims-driven service structures with dynamic driving permissions to cross-organizational performance awareness that enables health plans to put travel coordination in the hands of the clinical staff who are closest to the patient.
“Ride Health provides a technology-enabled approach to an important component of our health system,” said Brian Model, Managing Partner, Topmark Partner. “We are committed to supporting their market-leading product as they continue to transform this fast-growing industry that relies on legacy systems and manual workflows.”
About Ride Health
Ride Health works with health organizations and transportation service providers to manage transportation services, strengthen corporate transportation programs, and improve access to care and social services for complex populations. We combine technology and data with a human approach to breaking down barriers to entry and solving some of the biggest transportation challenges facing payers, providers and life science companies. Our platform maps each patient’s unique needs and preferences to deliver the best driving experience for all clinical and social needs, ensuring better access, improved efficiency, lower costs and better outcomes. Learn more at www.ridehealth.com.
Via Topmark partners
The Topmark Partners team has been investing in companies in the growth phase since 1999. Topmark Partners builds trusting relationships with experienced entrepreneurs and supports its portfolio companies in the most dynamic phases of their life cycle. Based in Tampa, Florida, Topmark Partners invests in companies run by entrepreneurs who apply proven technology to solve a business problem. These technology-based companies usually generate $ 3 million to $ 30 million of sales and are at or near breakeven. Topmark Partners aims to invest in $ 2 million to $ 7 million in every portfolio company. Learn more at www.topmarkpartners.com.
Media contact:
Kris Tranquilino
[email protected]
SOURCE Driving Health
similar links
https://ridehealth.com
source https://dailyhealthynews.ca/ride-health-raises-10-million-to-scale-national-medical-transportation-platform/
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