Solera Health, a digital health business that developed an online marketplace for non-medical resources and support for diabetes prevention programs, has closed an $18 million Series B round. The new funding will support its expansion into nonmedical prevention programs for metabolic diseases and emotional well being.
In a phone interview, Solera health Founder and CEO Brenda Schmidt said the preventive care benefits manager was pleased that it had moved beyond the diabetes prevention program space that it has become known for to add other categories. Earlier this year it added metabolic disease prevention and in 2018 it will move into behavioral health, which includes programs to address sleep deprivation and stress management, among other issues.
Adams Street Partners led the round, with participation from existing strategic investors including Blue Cross Blue Shield Venture Partners, Sandbox Industries and social impact fund SJF Ventures. Solera has raised $30.3 million to date.
Asked about recent collaborations that underscore the company’s efforts to aggregate highly fragmented prevention, coping and support services to address social determinants of health, Schmidt pointed to a recent partnership with Evi-Base, which is intended to scale the DPP in faith-based organizations. Based in Cleveland, the group has proven successful in implementing evidence-based health self-management education program in churches and specifically around topics associated with diabetes prevention and promoting emotional well-being.
Solera’s approach is designed to help nonclinical providers to be integrated into healthcare. Some other partners in Solera’s network are Weight Watchers, Lark, Retrofit and Noom.
“Health plans are coming to Solera to ask us to implement these programs as an adjunct to care,” Schmidt said. “There is an appetite among providers and payers to provide additional support services.”
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
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