ATLANTA, Jan. 5, 2017 /PRNewswire/ -- Pursuant Health, a leader in consumer health engagement and data collection, announced today it has completed a $12.8 million Series A1 round of financing. Consisting of new and existing investors, this round included the conversion of previous debt financings to equity. Pursuant Health will use this financing to add new channels to its unique population health platform to better serve the Company's growing customer base. These channel expansions include texting, mobile, digital and incentive management capabilities, providing broader program administration, engagement and collection of health data.
The Company announces this fundraising after a year of significant milestones. Throughout the course of 2016, Pursuant Health achieved NCQA Certification for the "Health Age" health risk assessment co-developed with Cleveland Clinic Wellness, launched their first member health screening and rewards program with Anthem Blue Cross and Blue Shield and established a 3-year partnership with the American Diabetes Association. In December, the Company surpassed 130 million health screenings and over 3 million active account holders. In 2016, the Company's revenue grew 28% and EBITDA improved to breakeven.
"Pursuant Health has experienced a pivotal year with immense innovation, growth and strategic development. As we enter 2017 with 8 health plan contracts in implementation and a robust pipeline, the Company will use this funding to expand our services and capabilities to best serve our customers," said Larry Gerdes, Pursuant Health CEO. "Through these enhancements, we can continue building a unique platform that will position Pursuant Health as a leader in population health management."
Pursuant Health's innovative approach to population health management enables health plans to improve quality, increase compliance and produce better outcomes. This is achieved through the Company's patent-pending platform that couples principles of behavioral economics with real-time incentives and adaptive logic to drive sustainable member engagement. By utilizing multi-channel communication strategies, convenient care settings and real-time incentive management capabilities, Pursuant Health engages a wide range of at-risk, historically hard-to-reach members.
About Pursuant Health (formerly SoloHealth): Based in Atlanta, Georgia, Pursuant Health's purpose is to engage individuals to manage their health and improve outcomes. In summer 2010, the Company received a grant from the National Institutes of Health (NIH), a division of the U.S. Department of Health and Human Services, to help develop a self-service health kiosk. Pursuant Health's platform consists of multiple channels, including a unique kiosk network of over 3,600 FDA-cleared, HIPAA-compliant self-service medical devices located within 10 miles of 79% of the U.S. population. For more information, please visit www.pursuanthealth.com.
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SOURCE Pursuant Health