California-based healthcare-navigation platform Amino Health has secured $42 million in credit financing from Oxford Finance, as part of its $80 million funding round in May. Amino Health connects members with physical and mental healthcare providers and benefits programs, providing appointment booking and quality ratings. The funds will be used to accelerate growth, expand the team, enhance market reach, and advance technology infrastructure. The platform has transitioned from a direct-to-consumer model to an enterprise subscription approach, serving health plans, benefits administrators, third-party administrators, and care vendors.
Healthcare-navigation platform Amino Health has received $42 million in credit financing from Oxford Finance as part of its $80 million raise in May.
WHAT IT DOES
The California-based company connects its members with physical and mental healthcare providers and benefits programs, and allows its members to book appointments and keep track of their favorite providers. It also distributes cost and quality ratings for providers and facilities.
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Amino will use the funds to speed up its growth, add to its team, expand market reach and advance its technology infrastructure.
“We are delighted to support Amino in its mission to transform the healthcare navigation experience,” Rohit Gandhi, senior director at Oxford, said in a statement. “Amino has demonstrated remarkable innovation and disruption in the digital health space, and we believe their platform has the potential to revolutionize the way individuals access and navigate healthcare services. This investment reflects our confidence in Amino’s leadership, vision, and ability to make a significant impact in the industry.”
MARKET SNAPSHOT
The company began as a direct-to-consumer platform. It has since transitioned to an enterprise subscription model with members from health plans, benefits administrators, third-party administrators and care vendors.
In 2017, Amino raised $25 million in Series C funding.
Other companies in the care-navigation space include Rightway, an employee-focused care-navigation and pharmacy-benefits platform, and Accolade, which offers virtual healthcare and care- and benefits-navigation services.
Source: MobihealthNews
