SpineZone Raises $12 Million Series A Round From Polaris Partners, Providence Ventures and Martin Ventures

SAN DIEGO, Feb. 26, 2021 /PRNewswire-PRWeb/ -- SpineZone, a leading provider of non-operative, personalized treatment for musculoskeletal conditions, announced today that it has closed a Series A funding round of $12 million, led by Polaris Partners and Providence Ventures, with participation from Martin Ventures.

"We believe that SpineZone has a game-changing, scalable model that combines the best of AI-driven online technology, tele-health services, and onsite healthcare to drive significant improvements in patient outcomes while generating big cost savings for employers, healthcare systems and health plans," said Gary Swart, partner at Polaris Partners, who led the Series A round.

SpineZone uses its online platform, data-driven personalized treatment programs, and in-person clinics to treat back and neck pain more effectively, while minimizing the need for prescription drugs, injections, and surgeries. SpineZone patients receive personalized guidance and at-home exercises from the SpineZone online platform, and have the option to receive in-person treatment at SpineZone's local clinics in Southern California.

"SpineZone offers a comprehensive value-based treatment model for spine, neck and musculoskeletal conditions," said Kian Raiszadeh, M.D., co-founder and CEO of SpineZone. "Unlike other digital health tools and wearables that serve as point solutions addressing only 20% of the healthcare system's spend on musculoskeletal conditions, SpineZone's Integrated Care Management model is positioned to address the entire 100% of musculoskeletal spend. Our model combines digital technology with onsite care. We create strategic partnerships with health plans, health systems, medical groups, and employers to improve patient outcomes at lower costs."

SpineZone receives patients via referrals from primary care physicians and strategic partnerships with health plans, health systems, and employers. The company currently has 1 million lives under management, and has partnerships with major health systems such as Sharp HealthCare, Scripps, Providence, and national health plans such as Anthem. After working with SpineZone for 2 years, the Sharp Community Medical Group achieved a $3.4 million cost savings for patients with back pain. After partnering with SpineZone in Southern California since September 2018, Providence has improved back strength by 35% and achieved 80% elimination of opioids use, while improving the health of Providence members and improving patient satisfaction.

The program connects patients with a customized online platform that they can access via smartphone or laptop; patients are evaluated for their overall level of pain and possible related complications and risk factors, and then are assigned a series of exercises that they can do at home, guided by the app and with constant communication with SpineZone's team of physicians, physician assistants, and physical therapist "Coaches." SpineZone's approach to treating back and neck pain has achieved a 85% successful completion rate and a 70-80% reduction in patients' pain. 80% of patients who were using prescription opioids are able to get off of opioids after using the SpineZone program.

"During my 25-year career as a spine surgeon, I noticed a dramatic increase in patients who were receiving surgery for back and neck pain, but who were not getting their desired long-term result," Kamshad Raiszadeh, M.D., co-founder and Chief Medical Officer of SpineZone, said. "Many back and neck surgeries are not necessary. We wanted to develop a better model of patient-centric, value-based healthcare that truly puts the patient first. Using a multidisciplinary model with evidence-based treatments, many patients demonstrate significant functional improvements and pain reduction despite having conditions that are classically thought to be surgical."

The company intends to use the proceeds of its Series A round to enter into new markets and strategic partnerships with health systems, health plans, employers, and other organizations, along with expanding its clinic footprint. The company is also expanding its platform to all primary musculoskeletal conditions.

About SpineZone
SpineZone uses online technology and in-person clinics to offer the best aspects of non-operative treatment for back and neck pain in order to eliminate unnecessary suffering. The SpineZone program empowers patients to maximize their body's healing capacity, and improves patient outcomes while minimizing the need for prescription drugs, injections, or surgeries.

The company was founded and developed by two orthopedic surgeon brothers, Dr. Kian Raiszadeh and Dr. Kamshad Raiszadeh, who wanted to create a better way to help patients recover from back and neck pain. Kamshad Raiszadeh founded the treatment model for SpineZone in 2005. In 2014, founder of RxMatch, Inc., Kian left his surgical practice to further develop a software solution to blend technology with science to create a truly exceptional medical delivery platform. The two joined forces in 2015 to scale the company. SpineZone has more than 10 years of data based on successful patient outcomes and is now ready to expand beyond spine and neck treatment into other musculoskeletal conditions as a comprehensive platform for orthopedic care.

SpineZone has built upon years of data and proven improvements in patient outcomes to develop a better software solution that combines technology and orthopedic science to create a truly exceptional medical delivery system. SpineZone offers an online platform and several local clinics in greater San Diego and Orange County, California. To learn more visit http://www.SpineZone.com.

Media Contact

Chris Powell, Chris Powell PR, Inc., +1 4153102357, [email protected]

SOURCE SpineZone

Related Links

http://www.spinezone.com