K Health, The Leading AI Primary Care Platform, Raises $50 Million Equity Funding Round
July 01 2024 - 12:00PM
Business Wire
Led by Claure Group, The New Investment Seeks
to Expand Clinical Artificial Intelligence in Personalized Primary
Care within Leading Health Systems
K Health, the leading AI Primary Care platform, announced today
that it has raised $50M in funding led by Claure Group, with
participation from investors including Pablo Legorreta (founder and
CEO of Royalty Pharma), and existing investors Mangrove Capital
Partners, Valor Equity Partners, and Atreides Management, LP.
Primary care is a critical part of the US healthcare system,
essential for improving clinical outcomes and reducing costs, with
over a billion visits annually to primary and urgent care
facilities. However, a burned-out physician supply and
fragmentation from point solutions make access to high-quality
longitudinal care out of reach for most people. Most technology
solutions today have been applied on the edges of care to reduce
administrative burden. Despite the immense potential of AI, these
solutions have so far been unable to address the underlying problem
of providing high-quality, truly personalized care at scale.
K Health is the only company that has developed peer-reviewed,
clinical-grade AI for primary care. K’s co-pilot transforms the
primary care visit. Instead of doctors taking patients through
lengthy investigations and manually piecing together medical
history from EMRs, K’s clinical-grade AI co-pilot takes patients
through a personalized chat, grounds the assessment in relevant
EMRs, and delivers to the providers the perfect medical chart with
patient insights so they can make individualized diagnoses and
treatments. This frees up the providers to truly engage with their
patients, exercise clinical judgment and put in place a
comprehensive follow-up care program. This new model of care
delivery using K’s co-pilot achieves dramatically higher quality of
care at lower costs vs traditional primary care.
Together with leading health systems, K Health has also been
developing a comprehensive longitudinal care program that
integrates virtual care with brick-and-mortar to create scalable
access to primary care. This integrated care delivery model
combines K’s primary care co-pilot, patients’ EMRs, and
brick-and-mortar assets of the health system to navigate patients
within a system, including diagnostic tests and specialty care. K
has moved beyond a vision to scaled application - rebuilding the
primary care model that has already helped health systems create a
15% increase to primary care access.
“K Health solves the need to make primary care visits highly
personalized by giving doctors AI super powers that enable them to
practice at the top of their license. Our primary care platform
offers a concierge medical experience, with an assigned provider
and 24/7 access to care. When partnered with leading health systems
like Cedars-Sinai, this model creates significant benefits to
access, clinical outcomes, and patient experience. All you need to
get care is your health insurance, a stark contrast to concierge
medicine services that typically cost thousands of dollars,” said
Allon Bloch, founder and CEO of K Health.
The company has been developing AI technology for over seven
years and employs proprietary data sets to highly personalize
clinical care for patients.
"As I invest in the AI landscape, I have found it incredibly
difficult to discover companies making tangible, real-world
progress with AI," Marcelo Claure, Founder and CEO of Claure Group,
said. "K Health is the first company I've seen successfully using
AI to impact millions of lives. They are addressing some of
healthcare's greatest challenges by providing accessibility to
faster, higher-quality, lower cost care on a large scale."
About K Health
K Health is the AI-driven Primary Care company on a mission to
provide access to high-quality medical care at scale. Its 24/7
virtual primary care solution is available to millions of people in
the U.S. through leading health systems and insurers, as well as
through a direct-to-consumer mobile app. K Health’s platform
includes a medical chat and AI predictive models based on large
datasets to help physicians optimize diagnosis and treatment, and
focus on patient care. K Health is backed by leading investors
including Valor Equity Partners, Mangrove Capital Partners, GGV
Capital, 14W, Comcast Ventures, Lerer Hippeau, Primary Venture
Partners, and PICO Capital Partners. K Health is headquartered in
New York. For more information, please visit www.khealth.com.
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