Visana Health, a virtual women’s health clinic, has secured $24 million in Series A funding to expand its services, the company announced on Tuesday.
The Minneapolis, Minnesota-based company treats women for a range of conditions, including menopause, endometriosis, fibroids, polycystic ovary syndrome, contraception, urinary tract infections and other conditions. Visana Health serves health plans and employers and its services are available in all 50 states. It works with more than 40 employers covering over 1 million lives, while its health plan partners represent more than 35 million covered lives.
Its Series A round was led by Noro-Moseley Partners and included participation from The Cigna Group Ventures, Intermountain Ventures, Flare Capital Partners and Frist Cressey Ventures. In total, it has raised $36 million.
The financing will help Visana Health expand into weight loss, cardiometabolic care and chronic condition management, such as diabetes, thyroid disorders and cardiovascular disease. In addition, the funding will grow its AI capabilities and reduce administrative burden on providers.
Currently, there is a major shortage of women’s health providers, and women’s health is a top five driver of cost for employers, according to Visana. The company can reduce employer medical costs by 34%, reduce unnecessary procedures by 78% and create $2,400 in annual savings per enrollee, a recent actuarial analysis showed.
“Visana helps employers and health plans tackle rising costs by addressing high-spend, underserved women’s health conditions with a whole-person care model,” said Joe Connolly, cofounder and CEO of Visana Health, in an email. “Unlike point solutions that only address narrow areas of care, Visana takes on the complex, high-cost conditions—such as endometriosis, PCOS, cardiometabolic disease, and behavioral health—that drive a disproportionate share of spend but historically have had few scalable solutions.”
Visana’s ability to reduce costs for employers and health plans is partially why Noro-Moseley Partners invested in the company.
“We invested in Visana because it has proven what few companies in healthcare achieve – a scalable model that delivers better outcomes at lower cost. … That level of validation makes Visana a category-defining leader in comprehensive women’s health,” Spence McClelland, general partner of healthcare at Noro-Moseley Partners, told MedCity News.
Ultimately, Visana aims to “deliver on the triple aim of healthcare for all women – delivering great clinical outcomes, a new and improved care experience and reducing the total cost of care through comprehensive virtual care that treats the whole person, not just individual symptoms,” Connolly added.
Other women’s health companies include Tia Health and Maven Clinic.
Photo: asnidamarwani, Getty Images
