SoloHealth has raised more than $4.3 million in a combination of equity and securities from 24 investors, according to a Form D filing with the Securities and Exchange Commission, to support its line of self service screening stations at U.S. chain stores like Safeway and Walmart.
Its FDA cleared stations are designed to measure weight, blood pressure, vision, and walks users through questions to do health risk assessments. The telehealth company’s stations also have the capacity to host video consults with physicians.
The fundraise follows a management shakeup earlier this year, according to the Atlanta Business Chronicle. Founder Bart Foster was replaced as CEO by Larry Gerdes, the chairman. Foster was named chief strategy officer, according to the publication and noted the CFO Chad Terry left the company.
One disadvantage the screening stations have is a lack of privacy. A rival to SoloHealth, HealthSpot offers its walk-in telemedicine kiosks at employers, hospitals and recently inked a deal with RiteAid to make the kiosks available at stores in Ohio
Novartis, Dell, Coinstar, WellPoint and National Institutes of Health are among its funders, according to the company’s website. To date it’s raised more than $23 million in private capital since 2009.
