Leading infusion therapy company continues to expand in Northeastern U.S., making comfortable and affordable infusion therapy accessible to millions
NASHVILLE, Tenn., Nov. 29, 2023 /PRNewswire-PRWeb/ -- Local Infusion, the leading tech enabled infusion provider, announced it has closed on a $10 million Series A funding round led by Blisce with participation from Meridian Street Capital and existing investors. The new funds will be used to expand the company's footprint to New Jersey, Connecticut, and Maryland in 2024 and build out the company's proprietary referral and care coordination technologies.
Local Infusion delivers comprehensive value-based care and infusion therapy to patients with chronic autoimmune diseases on specialty medications. The company focuses on patients with chronic conditions such as Crohn's disease, rheumatoid arthritis, multiple sclerosis and more, through quality, near-home infusion centers and personalized virtual care. Local Infusion's innovative care model puts patients first, with an offering that includes nights and weekend scheduling, financial guidance, private infusion suites and 24/7 access to a dedicated care team — all while significantly reducing overall cost of care.
"Infusion care remains one the last segments in healthcare where Value Based Care has yet to fully take hold. Local Infusion is changing that through its comprehensive care model that addresses symptoms and patient care beyond the four walls of the infusion center," said Sam Giber, General Partner & Managing Director of Blisce US.
Local Infusion has grown rapidly in the last year, from opening its first center last December to now operating 4 locations across Maine and New Hampshire. The company is the trusted infusion therapy provider for over 220 physicians in the Northeast, and has entered into partnerships with a number of payors and employers covering more than 1.3 million lives. Additionally, Local Infusion works closely with primary care groups to provide care coordination and lower the overall cost of care for at-risk entities. Local Infusion will use the strategic capital to expand its footprint further in the Northeast U.S. with 16 additional centers in 4 new states, hire key leadership positions across operations, payor partnerships, strategic finance, business development and marketing. The company is also investing in proprietary machine learning technologies to power referral and care coordination — all with the goal of delivering best-in-class patient experience and care.
"After nearly a year in operation, with locations across Maine and New Hampshire, we have proven that our innovative patient care model delivers better outcomes — with industry leading patient satisfaction, improved medication adherence, and the lowest referral to treatment, all while saving each patient on average over $40,000 per year," said Woody Baum, Founder & CEO of Local Infusion. "With this capital, we're replicating our care model across the Northeast U.S., building out our leadership team, and investing in referral and care coordination technology."
"Local Infusion's care delivery model has had an immediate impact in New England by lowering the cost of infusion therapy while providing an industry best patient satisfaction score. This funding will allow the company to accelerate growth to other markets where patients are underserved," said Scott Law, Meridian Street Capital's general partner.
Local Infusion offers private suites, a dedicated infusion guide to assist patients with scheduling and financial guidance, flexible hours, convenient parking, and other amenities. Care is provided by on-site nurse practitioners and RNs.
About Local Infusion
Local Infusion is raising the bar for chronic care management—because patients deserve better. It aims to improve outcomes for patients, save time for physicians and make infusion therapy more affordable for everyone involved. With an industry leading patient satisfaction NPS of 98+, while saving an average of $40K per patient annually, Local Infusion is truly setting a new standard for the industry. Through a blend of human-centered design and a people-first culture, Local Infusion puts the "local feel" of community, comfort and connection back into the patient and provider experience with near-home locations in the Northeast U.S. To learn more, visit mylocalinfusion.com. Follow Local Infusion on LinkedIn and Facebook.
About Blisce
Blisce is an investment firm co-headquartered in New York and Paris that is committed to investing differently. Pragmatically optimistic that entrepreneurship, innovation, and purposeful capital can improve our world, we empower people to take real action. We work to be genuinely aligned with all our stakeholders because we believe there is no acceptable financial performance without responsibility.
About Meridian Street Capital
Meridian Street Capital is a New York based, seed-stage venture capital fund investing exclusively at the intersection of technology and healthcare to improve patient health, access to care, costs and experience. We help extraordinary entrepreneurs build ground-breaking companies through the earliest stages of development. Our multidisciplinary team and set of advisors offer a partnership approach with deep operational, entrepreneurial and investment experience in healthcare.
Media Contact
Local Infusion Media, Local Infusion, 1 8445091404, kamiu.lee@mylocalinfusion.com, www.mylocalinfusion.com
SOURCE Local Infusion
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