TailorMed adds $5 million, American Cancer Society to funding round
OSF Healthcare’s corporate investment arm, OSF Ventures, and Citi via their Citi Impact Fund also joined the round that reached $25 million
CTech | 18:57 29.09.2021
Israeli startup TailorMed Medical, which has developed patient financial navigation technology that helps health care organizations and patients, announced on Wednesday that it has extended its round of funding, increasing the overall investment by $5 million to $25 million. New strategic investors include the American Cancer Society’s impact investment fund, BrightEdge, OSF Healthcare’s corporate investment arm, OSF Ventures, and Citi via their Citi Impact Fund. Sanara Capital, Sanara Ventures’ follow-on fund, also participated. TailorMed’s platform automates the entire process of identifying financially at-risk patients, matching and enrolling them in financial resources such as: co-pay assistance, replacement drug programs, government subsidies, community and state resources, assistance from disease-specific foundations, and programs that support patients with their living expenses – including those affecting social determinants of health. Patients can alleviate their financial hardships and reduce out-of-pocket responsibility, while health system customers can shift towards a more proactive approach in addressing the financial needs at the point of care.