Kins Raises $7M Series A and Signs Strategic Investor to Expand to New Markets

BOSTON, July 16, 2024 /PRNewswire/ -- Kins, a digital-first hybrid care physical therapy practice, announced today a strategic investment, which includes funding from Healthworx, the investment arm of CareFirst Inc. This investment is part of a $7M financing round with additional investors including Redesign Health, W Health Ventures, and Asahi Kasei Ventures. The company will use funds to accelerate development of its virtual and in-person care platform and to expand into Washington D.C., Maryland, and Virginia markets.

"This investment is a pivotal milestone for Kins, highlighting our progress in revolutionizing physical therapy care," said Dan Smith, CEO of Kins. "We have proven our exceptional care model with patients, providers, and health systems. We are excited for this next chapter working with payers on value based care delivery."

Kins' combination of virtual and in-person treatment continues to surpass both traditional physical therapy clinic performance and newer digital-only MSK solutions. 84% of Kins patients successfully complete their care and report 3x higher industry results in functional and quality of life improvement.

"Kins is transforming the delivery of physical therapy in today's digital age," said Christopher George, Investment Manager at Healthworx. "We are excited by the potential of the company's hybrid care model to improve access and outcomes for patients, while working to reduce costs for payers."

"We are modernizing patient care by providing a level of convenience and access that traditional clinic settings simply can't match. Beyond convenience, we are delivering significantly improved clinical outcomes at lower costs," stated Nadine Booysen, Chief Clinical Officer. "There will always be a need for clinical care, delivered by licensed providers. With Kins, our personalized, hybrid physical therapy approach leverages technology to efficiently deliver value-driven care at scale."

Since its launch in 2021, Kins has provided 1-on-1 hybrid care to thousands of patients, resulting in 92 NPS patient satisfaction, more than 2x higher industry results in pain reduction, and 77% of patients achieving all their personal goals. Currently available in New York and Massachusetts, Kins will now expand service to DC, Maryland and Virginia.

About Kins

Kins is a physical therapy practice that delivers personal connection and modern convenience. Offering a hybrid model of virtual and in-person care, Kins enables therapists and patients to collaborate in creating a course of care designed around the patients' needs. For more information about Kins, please visit https://www.kins.com.

About Healthworx

Healthworx operates at the intersection of healthcare and innovation by creating, co-creating, and investing in companies improving healthcare quality, accessibility, affordability, and equity. Healthworx envisions a healthier future for all people by changing how health works. For more information about Healthworx, please visit https://www.healthworx.com.

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SOURCE Kins