HealPros Secures Series A Funding to Fuel National Expansion

Dec 28, 2015, 10:13 ET from HealPros, LLC

ATLANTA, Dec. 28, 2015 /PRNewswire/ -- HealPros, LLC, a mobile telemedicine triage service company that provides mobile diabetic retinopathy eye examinations on behalf of healthcare payers across the country, announced today that it has closed a round of Series A funding led by New York-based Sopris Capital. HealPros will leverage the new round of funding to expand its mobile diabetic retinopathy program into at least twenty-five states in 2016.  "HealPros has secured multiple national agreements with some of the nation's largest health insurance companies and these payers are looking for HealPros to expand its foot-print to serve their members across the country as quickly as possible," said Milan Popovich, Senior VP Business Development for HealPros.  "After an extensive search for the right financial partner, we ultimately decided Sopris Capital was the perfect Series A partner," said Jim Sullivan, CEO of HealPros. "Sopris Capital's focus on the healthcare technology and services space, their hands-on approach to assisting fast growing businesses, and they're proven investment track record really set them apart from other investment firms in the market."

"Sopris Capital principals have been investing in proven healthcare technology and services companies for over thirty years, and we have never seen a company secure as many national payer agreements, in as short a period of time, as we have seen produced by HealPros," said Jon Kaiden, President of Sopris Capital.  "We are very excited to partner with HealPros management as they embark on an aggressive national expansion program and take their business to the next level."  HealPros' service offering addresses a major pain point for payers in performing annual eye examinations on the non-compliant diabetic population. We spoke with dozens of HealPros clients, and without exception, these clients are intent on improving the quality of care on behalf of their members, closing their HEDIS coverage gaps, and improving their STAR scores. HealPros is the perfect solution to address these intentions," said Jon Kaiden.  HealPros is delivering its services in 10 states today, and will be rendering diabetic retinopathy examinations in over 25 states by the end of the first quarter, 2016 according to Popovich.

Healthcare payers that currently utilize the HealPros service offering have noted meaningful improvements in HEDIS and STAR quality scores since partnering with the company, and many payers are asking HealPros to consider closing additional gaps in coverage going forward.  Popovich went on to say that "based upon input from our payer clients, HealPros will likely offer additional HEDIS gap closure options in 2016 that are ideally suited to our unique mobile capabilities."

About HealPros:

Founded in 2011, HealPros provides mobile diabetic retinopathy examinations on behalf of healthcare payers across the country.  The uniqueness of this service model allows HealPros' payer clients to reach members who are not regularly meeting with primary care physicians or eye care professionals to perform essential examinations.  HealPros provides mobile diabetic eye examinations in member's homes, at primary care practices, in multi-specialty health centers, and other venues as designated by payer clients.

About Sopris Capital:

Based in New York, Sopris Capital is a venture capital firm that invests growth equity in the tech-enabled business services, healthcare IT, and healthcare services sectors. Sopris partners opportunistically with fast growing companies that have a validated business model, initial market acceptance, and a management team that can capitalize on the opportunity.