K Health, The Leading AI Primary Care Platform, Raises $50 Million Equity Funding Round
Led by Claure Group, The New Investment Seeks to Expand Clinical Artificial Intelligence in Personalized Primary Care within Leading Health Systems
July 01, 2024 09:00 AM Pacific Daylight Time
NEW YORK–(BUSINESS WIRE)–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.
“As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI”
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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