Capital Rx closes over $50M funding round
Capital Rx, a pharmacy benefit manager technology company, received around $50 million in funding from multiple health systems.
Health system investors in the company’s round included Phoenix-based Banner Health, New Jersey-based Atlantic Health System, Houston-based nonprofit Memorial Hermann Health System, New Orleans-based Ochsner Health and six other systems that shared their investments publicly. They were joined by growth equity firm Transformation Capital.
Read more: Congress eyes endgame for PBM legislation
A spokesperson from Capital Rx declined to provide the specific funding amount the company received.
Capital Rx works with employers and other health plan administrators by providing them with a tech-enabled pharmacy benefit management model. The company said it will use the funds to support research and development of its enterprise pharmacy platform and hire additional staff.
Capital Rx announced the close of its previous funding round, a Series C round with a $106 million investment, in June 2022.
Main Street Health nabs $315M from Oak HC/FT, MA plans
Main Street Health, a rural-focused startup, said it closed a $315 million financing round. The company works with primary care clinics in rural areas, providing them with health navigators and data analytics tools to help the practices move into value-based care.
Venture capital firm Oak HC/FT was the lead investor on the round and was joined by five national Medicare Advantage plans—UnitedHealthcare, Humana, Elevance Health, CVS Health and Centene—as well as some of Main Street’s provider partners. Read more.
Postoperative patient monitoring company closes $15M funding round
FluidAI, a postoperative patient monitoring company, closed a $15 million Series A funding round.
The company’s platform uses sensors and an algorithm to quickly prompt surgeons on potential complications related to anastomotic leaks. FluidAI will use the funding to expand in existing and new markets, hire additional staff and develop additional monitoring products.
Venture capital firms SOSV and Graphene Ventures led the round.
Commons Clinc nabs $19.5M Series A
Commons Clinic, a value-based care company focused on orthopedics and pain management, closed a $19.5 million Series A funding round.
The company has two physical locations in California and offers access to virtual care. Commons said the round will be used to scale its team and grow its footprint of physical locations beyond the Los Angeles area.
Investment manager RA Capital Management led the round with participation from venture capital firms Floating Point and Courtside Ventures. The Series A investment brings Commons Clinic’s total funding to $33.5 million.
