Lemonaid Health Raises $33M to Expand On-Demand Consumer Telehealth Platform

Lemonaid Health Closes oversubscribed $33M Series B to expand telehealth services

What You Ought to Know:

– Lemonaid Health, a direct to shopper telehealth firm raises $33M in Collection B funding to increase the corporate’s medical group and variety of providers being provided to sufferers.

– Up to now, the corporate has handled greater than 1,000,000 sufferers
on-line for a wide range of medical situations starting from erectile dysfunction to sinus infections
to despair and nervousness for roughly $25/go to (lower than a typical co-pay).

Lemonaid Health,
a handy, inexpensive, on-demand platform for telehealth, has raised a $33
million Collection B spherical of funding, bringing complete financing to $55 million. The
oversubscribed spherical was led by Olive Tree
with participation from Artis
, Correlation Ventures, Hikma Ventures, Sierra Ventures and others.

COVID-19 Driving Telehealth Adoption

The coronavirus pandemic has accelerated the combination of
telehealth and remodeled the best way customers work together with their healthcare
suppliers. Suppliers are seeing 50 to 175 occasions the variety of sufferers through
telehealth platforms than they have been earlier than the outbreak, in accordance to a McKinsey COVID-19 Consumer Survey.

On-line Physician’s Workplace & Drugs Supply

Based in 2013 by Co-Founders Ian Van Each and Paul
Johnson, Lemonaid Health affords sufferers direct entry to the care they want,
from session by means of therapy nationally throughout the U.S. The corporate
leverages evidence-based tips and probably the most up-to-date medical protocols
to present high quality look after lower than typical co-pays. In only a few minutes,
sufferers are ready to work together with a U.S.-licensed physician or nurse practitioner
for situations like nervousness and despair, urinary tract infections (UTIs),
contraception, hair loss, hypothyroidism, erectile dysfunction, genital herpes
and sinus infections. Sufferers are additionally provided free and quick supply of
prescription drugs by means of the platform to velocity therapy.

For $25 per go to, sufferers can request prescriptions by
filling out a questionnaire and attaching an image for the physician to write out
the prescription, after which have it routinely despatched to a regionally most well-liked
pharmacy inside a 2-hour turnaround time. The go to value is less expensive than a
co-pay, and an electronic mail abstract of the care offered is distributed for the
affected person’s major care physician.

Growth Plans

Lemonaid Health has seen a surge in demand for its providers
and curiosity from potential companions through the COVID-19 pandemic. Though
initially a direct-to-consumer supplier, the corporate is beginning to work with
companions inside the current healthcare system to additional increase attain.

With the funding, Lemonaid Health will increase its group of
medical professionals and enhance the variety of providers being provided to
sufferers, together with therapy for bronchial asthma, hypertension, Sort 2 diabetes and
extra psychological well being providers.

“The U.S. healthcare system has struggled to ship
the providers sufferers want in a means that’s handy and efficient. The challenges
of offering routine care has been exacerbated just lately as the vast majority of
well being sources have been centered on responding to the coronavirus
pandemic,” mentioned Paul Johnson, co-founder and CEO of Lemonaid Health.
“We based Lemonaid Health with a imaginative and prescient to enhance entry to
inexpensive, high-quality healthcare. As extra customers have turned to
telehealth within the final six months, we’ve seen vital development in demand for
our on-line providers. With the extra financing, we will probably be ready to assist even
extra sufferers get the care they deserve and increase our providers in partnership
with different healthcare suppliers.”

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