Visana Health, a virtual women's health clinic, has received $24 million in Series A funding to expand its services, the company announced Tuesday.
Minnesota-based companies treat women a range of diseases including menopause, endometriosis, fibroids, polycystic ovary syndrome, contraception, urinary tract infections and other diseases. Visana Health serves health programs and employers and their services. It works with more than 40 employers and covers more than 1 million lives, while its health program partners represent more than 35 million lives.
Its Series A is led by Noro-Moseley partners, including participation from Cigna Group Ventures, Intermountain Ventures, Flare Capital Partners and Frist Cressey Ventures. A total of $36 million was raised.
Financing will help Visana health expand into weight loss, cardiometic care and chronic disease management such as diabetes, thyroid disease and cardiovascular disease. In addition, funds will enhance their AI capabilities and reduce the administrative burden on providers.
Currently, there is a major lack of women’s health providers, and women’s health is the top five drivers for employers. Recent actuarial analysis shows that the company can reduce employers’ medical expenses by 34%, reduce unnecessary procedures by 78%, and generate $2,400 in annual savings.
“Visana helps employers and health programs solve rising costs by addressing high state, underserved women’s health through a full-person service model,” said Joe Connolly, co-founder and CEO of Visana Health in an email. “Unlike point solutions targeting only narrow-care areas, Visana undertakes complex high-cost conditions such as endometriosis, PCOS, cardiac metabolic disease and behavioral health, driving disproportionate spending, but historically there are few scalable solutions.”
Visana's ability to reduce costs for employers and health plans is partly why Noro-Moseley partners invest in companies.
Spence McClelland, a medical partner at Noro-Moseley Partners at Noro-Moseley Partners, said: “We have invested in Visana because it demonstrates what scalable models are implemented by few companies in the healthcare sector to deliver better results at lower costs. … The level of validation makes Visana a leader in the definition category of comprehensive women’s health.
Ultimately, Visana’s goal is “a triple goal of providing health care for all women – delivering excellent clinical outcomes, a new and improved nursing experience and reducing overall care costs with comprehensive virtual care, not just treating the entire person, not just individual symptoms,” Connolly added.
Other women's health care companies include TIA Health and Maven Clinic.
Photo: Asnidamarwani, Getty Images
