Leading infusion therapy company to expand in Northeastern U.S., making comfortable and affordable infusion therapy accessible to millions
NASHVILLE, Tenn., Nov. 18, 2022 /PRNewswire-PRWeb/ -- Local Infusion, the leading infusion therapy company, announced it has closed on a $4 million seed funding round led by Brand Foundry. Local Infusion intends to use the proceeds to build out its tech team and support the launch of its first five clinics in Maine and New Hampshire.
Aiming to improve patient care and outcomes, Local Infusion will not only save time, but lower the costs for both patients and physicians alike. Currently, ambulatory infusion centers (AIC) or traditional infusion and healthcare facilities are costly and utilize antiquated technology that leave patients uncomfortable for hours at a time. Local Infusion solves this problem by acting as an extension of primary care providers and building relationships with patients with chronic conditions that may require long term treatment.
CMS' recent Hospital Price Transparency rule has surfaced data around the skyrocketing cost of infusions in the hospital outpatient setting. In the locations where Local Infusion is beginning their efforts, there is a big cost differential between what hospitals are currently charging and what Local Infusion will charge patients for specialty infusion care. (https://www.healthaffairs.org/content/forefront/hospital-and-insurer-price-transparency-rules-now-effect-but-compliance-still-far-away)
Said Scott Law, Meridian Street Capital's general partner, "We have spent years looking closely at the changes in the infusion industry. The lack of access to affordable care, and the growing pipeline of specialty infusible drugs make it a market ripe for disruption"
"Traditional infusion services can triumph profit over patient care. Furthermore, referral-based healthcare is often antiquated and can present a frustrating experience for patients and referring providers. Unlike traditional infusion centers, Local Infusion creates a seamless user experience for all stakeholders, patients, specialist providers, and primary care groups. Our modern centers offer the latest in digital tools and feature a redesigned, simplified treatment process that's stress-free for the patient and physician," said Woody Baum, Founder and CEO of Local Infusion
"At Brand Foundry, we look to back founders and companies that are materially improving the customer or patient experience. When we looked at the status quo in the specialty infusion industry, it was clear that there is an opportunity to build a category leading platform. We are excited to lend our expertise in consumer experiences to support Local Infusion in its mission," said Andrew Mitchell, Brand Foundry's founder.
Local Infusion will use the strategic capital to expand opening its first 5 locations, hire key leadership positions across digital product, regional operations and payor/health system partnerships, as well as invest in its proprietary referral and care coordination technologies -- all with the goal of treating patients with chronic autoimmune diseases on specialty medications within private, comfortable suites.
About Local Infusion
Local Infusion is setting a new standard for infusion therapy—because patients deserve better. It aims to improve outcomes for patients, save time for physicians and make it all more affordable for everyone involved. Through a blend of human-centered design and a people-first culture, Local Infusion puts the "local feel" of community, comfort and connection back into the patient and provider experience. Launched in 2022, Local Infusion is currently ai care centers, all patients—and our healthcare team—can feel truly supported, every step of the way. To learn more, visit mylocalinfusion.com.
About Meridian Street Capital
Meridian Street Capital is a New York based, seed-stage venture capital fund investing exclusively at the intersection of technology and healthcare to improve patient health, access to care, costs and experience. We help extraordinary entrepreneurs build ground-breaking companies through the earliest stages of development. Our multidisciplinary team and set of advisors offer a partnership approach with deep operational, entrepreneurial and investment experience in healthcare.
About Brand Foundry
Brand Foundry Ventures is an investment firm led by former operators that specializes in disruptive and innovative technologies, products and services. BFV is headquartered in Austin, TX and currently investing out of their fifth venture fund focusing on seed and series A stage opportunities.
Media Contact
Kirstin Robison, Pitch Public Relations, 1 480-363-5371, [email protected]
SOURCE Local Infusion
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