PALO ALTO, Calif., Sept. 21, 2021 /PRNewswire/ -- Alpha Medical announces completing a $24 million oversubscribed series B round to help seal its leadership position in women's virtual primary care. Alpha empowers women to take control of their healthcare by providing the highest quality medical care in a convenient and affordable online process that allows patients to have the same care team each visit. Investors in this round feature digital health experts such as SpringRock Ventures, Margo Georgiadis, Outcomes Collective Growth Capital, FMZ Ventures, Samsung Next, Chamaeleon, AV8 Ventures, and GSR Ventures.
Gloria Lau, Co-founder & CEO said: "As a solution to a healthcare system that is broken, Alpha Medical is revolutionizing the way women can access quality care - by using technology to make it convenient, affordable, and attainable for those who it may not have otherwise been an option for." Dr. Mary Jacobson, Chief Medical Officer, added: "We train our providers to treat patients over their lifetime - primarily focused on the nuances of how a woman's endocrinological transitions, like puberty, pregnancy, and menopause, influence her susceptibility to various medical conditions. We are providing the kind of care that caters to her needs."
The American Congress of Obstetricians and Gynecologists (ACOG) estimates that half of U.S. counties lack a single OB-GYN. According to surveys, the average wait time for a new OB-GYN appointment is over 3 weeks. Similar wait times and barriers to access are standard for women in primary and specialty care. The cost to society goes beyond the impact on women's health - affecting families, reducing productivity for employers, and increasing the overall cost of healthcare.
Alpha Medical leverages a unique telemedicine platform to break this logjam, diagnosing and treating women quickly and conveniently from the comfort of their own home. The Alpha clinical team, recognized for their expertise in women's primary care, treats patients online in 46 states and DC. Patients can receive affordable treatment for over 60 conditions, covering all their everyday healthcare needs, with the same provider to ensure continuity of care. The Alpha platform is able to show clinical outcome improvement for chronic diseases such as asthma and anxiety.
"Far too many women go chronically underserved in our healthcare system across their lifetime," commented Margo Georgiadis, Investor (former President & CEO of Ancestry.com and former President of Google Americas). "I am incredibly inspired by how Gloria and the Alpha team are leveraging technology and innovating clinical care models so that women everywhere can have access to the comprehensive primary healthcare experiences they deserve - more personal, accessible, and affordable."
Alpha Medical recognizes that women's healthcare needs reshaping to include reproductive health, primary and urgent care, and mental health services. With this new round of funding, Alpha Medical will continue to fulfill its mission to close the gap by bringing a more accessible, equitable system to healthcare for the whole person and improve a system that needs more affordable, relational, and outcome-driven solutions.
"Alpha's product is built by an exceptional team of scientists, physicians, and engineers and is the best approach we've seen to close the gap in women's healthcare," said Kirsten Morbeck, Managing Director at SpringRock Ventures. "Tripling revenue in a year validates that the need and the approach is relevant. In the next chapter, we see a tremendous opportunity for Alpha's growth as a primary care platform, and also partnering with payers and employers to provide affordable, high quality healthcare to even more women stuck in a broken system."
ABOUT ALPHA MEDICAL From birth control to menopause, from urgent care to chronic disease, Alpha offers a patient-centric, whole person care platform built for her that covers all of her healthcare needs virtually. Each patient gets a dedicated PCP when she signs up, and the same provider cares for all of her primary medical needs online to ensure continuation of care. Our system anticipates her needs through data-driven proactive screenings, and we are built for cost-effective triage, prescription management, therapy, and referrals. The offering is available at a demonstrably lower cost than other virtual solutions on the market, helping much needed populations with high deductible plans or no insurance. We are here to rebuild the patient-provider relationship, and at the core of the offering is a dedicated PCP trained in women's health. We are here to destigmatize her needs by reshaping women's health to include reproductive, primary and urgent care, and mental health. We are here to bring about a more accessible, equitable system to care for the whole person.