SCAN Group, parent company of SCAN Health Plan, is investing in MedArrive, a health care logistics and services platform that enables payers to leverage emergency medical services (EMS) and other skilled providers to enhance home-based care, including palliative care. The dollar amount of the investment is undisclosed.
SCAN began partnering with MedArrive earlier this year as a preferred provider of home-based services, including a joint effort to vaccinate homebound patients for COVID-19. The companies to date have provided vaccinations to more than 1,000 patients.
“With this partnership, SCAN is making an investment in both MedArrive and the health of America’s seniors,” said Sachin Jain, M.D., president and CEO of SCAN Group and SCAN Health Plan. “MedArrive’s technology allows health care providers to better meet the needs of older adults by providing them with care in the safest, most convenient location for them — their homes.”
MedArrive leverages physician-led telehealth to reach patients in addition to in-person care. The company’s services include chronic condition management, transitional care, readmission prevention, urgent care, and palliative care, among others.
MedArrive has been on a growth trajectory during 2021. The company has begun new partnerships with a number of payers, ACOs and government agencies. The company launched in late 2020 with backing from the venture capital firm Redesign Health with an initial focus on the Florida market.
The company also secured $4.5 million in seed money from investment firms Kleiner Perkins and Define Ventures. MedArrive now offers services in New Jersey, Florida and California.
The MedArrive agreement is the latest in a series of SCAN investments as part of its larger diversification strategy. The cornerstone of that strategy is fostering growth of companies that align with SCAN’s mission to support healthier aging. SCAN also recently invested in home-based kidney care management organization Monogram Health.
As part of SCAN’s investment, Binoy Bhansali, the company’s head of corporate development, is joining MedArrive’s board of directors as an observer. The board also includes members from investors Kleiner Perkins, Define Ventures and Redesign Health.
“Enabling access to high-quality care for more people, particularly older adults and others not adequately served by today’s medical system, is at the heart of our mission at MedArrive,” said Dan Trigub, CEO and co-founder of MedArrive. “This investment from SCAN Group, an organization that shares our values, is validation of our unique approach and belief that the future of health care lies in the home.”
Companies featured in this article:
Define Ventures, Kleiner Perkins, MedArrive, Monogram Health, Redesign Health, SCAN Group, SCAN Health Plan
