Iora Health, a for-profit, outcomes-oriented company, wants to transform conventional views of primary care as short and insufficient. It’s just raised $20 million from 15 investors, according to an amended Form D filing on the U.S. Securities and Exchange Commission’s website. The move follows a $28 million Series C round just eight months ago to help it double the number of primary care practices it operates.
A spokeswoman for the company declined to comment.
The Boston-based company uses sponsors such as New England Carpenters Benefits Fund, Lahey Health, and Dartmouth College, that pay a flat monthly fee for each patient. It also uses health coaches to help patients navigate insurance decisions, go over their care plans and may even accompany them shopping, according to a Boston Globe article. Rushika Fernandopulle, the co-founder and CEO, previously served as a physician at Massachusetts General.
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Patient appointments typically run an hour, include the health coach as well as the physician and encourage patients to talk about their healthcare concerns. Patients can even see the notes they are writing on a screen in the room.
Among its investors are Foundation Medical Partners, Fidelity Biosciences, and GE Ventures.
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