Orrick, Herrington & Sutcliffe LLP
07/16/2024 | Press release | Distributed by Public on 07/16/2024 10:58
AI in Primary Care: K Health Raises $50 Million in Equity Financing
K Health Inc. has completed a $50 million equity funding round to advance its AI-driven primary care platform.
Orrick represented K Health Inc.
Claure Group led the funding round, with participation from investors including Pablo Legorreta (founder and CEO of Royalty Pharma), and existing investors Mangrove Capital Partners, Valor Equity Partners and Atreides Management, LP.
THE COMPANY
K Health is the AI-driven primary care company on a mission to provide access to high-quality medical care at scale.
Its 24/7 virtual primary care solution is available to millions of people in the U.S. through leading health systems and insurers, as well as through a direct-to-consumer mobile app. K Health's platform includes a medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.
THE IMPACT
The investment seeks to expand clinical artificial intelligence in personalized primary care within leading health systems.
"K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license," said Allon Bloch, founder and CEO of K Health.
"Our primary care platform offers a concierge medical experience, with an assigned provider and 24/7 access to care. When partnered with leading health systems like Cedars-Sinai, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars."
THE TEAM
Orrick's Samir Bakhru led the team that advised K Health Inc. The team also included Alexis Savini, Serena Tibrewala, and Hayden Cox.