National medical practice Eden Health announced that it has raised $25 million in Series B funding, led by Flare Capital Partners with participation from principals from Stone Point Capital, a private equity firm that focuses on the financial services industry including the HR benefits, insurance and real estate sectors. Existing investors who participated in the Series B round include Greycroft, PJC, Max Ventures and Aspect Ventures. The oversubscribed round brings Eden Health’s total raise to $39M. Eden Health is known for its innovative direct-to-employer healthcare delivery model, bringing in-person and virtual healthcare together to deliver an exceptional patient experience to the employees of mid-market companies.
Eden Health has seen interest from employers and commercial property owners increase by more than 500% since the onset of the public health crisis in mid-March, as the health and safety of employees and tenants has become one of the most urgent issues for employers and property owners.
The COVID-19 crisis has highlighted long-standing healthcare industry shortcomings that Eden Health was built from the ground up to address: the need for both virtual and in-person access to comprehensive healthcare services, with a scalable approach that lowers costs. Eden Health’s membership model makes high quality, holistic healthcare an affordable benefit for the average employer, with low to no out-of-pocket costs for their employees. The pandemic also created a new imperative: employers and commercial property owners must be health-forward. Regardless of whether a company owns, operates or occupies a physical location, they are now part of the healthcare delivery system, by choice or circumstance. Both employers and property owners are realizing that offering convenient access to medical services is a short term market differentiator and a long-term must-have, as employers are faced with protecting the health of their workforce whether their staff is at home, remote or entering a physical building.
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Since the very first signs of the US coronavirus outbreak in early February, Eden Health has worked with Bell’s Brewery, Connell, Convene, Harry’s, Kramer Levin, Newscred, Stack Overflow and others to roll out evidence-based, medically-informed plans and protocols to support workforce health. It has guided employers, property owners and workers through the outbreak using real-time monitoring, proactive outreach, and team-based care. And as employers and property owners began to phase workforces back into offices and worksites, Eden Health introduced a comprehensive back-to-work program spanning COVID-19 screening, virtual primary care, PCR testing, on-site antibody testing, immediate triage and patient consults. Through the crisis, Eden Health customers have also chosen to embed dedicated Eden Health Medical Directors into their c-suites to manage employee population health. Thanks in large part to early monitoring and proactive protocols to slow the spread, Eden Health employers have been able to maintain high levels of productivity, deploying essential workers safely while protecting their health and the health of fellow employees.