Collective Medical Secure $47.5 Million For National Health Network
Collective Medical is engaged with every national health plan in the country, hundreds of hospitals and health systems, and tens of thousands of providers and care managers including those in emergency departments, primary care practices, skilled nursing facilities, home health agencies, emergency medical services, and mental and behavioral health organizations.
Collective Medical’s network has visibility across 13 states, with an additional 10 states expected to go live in 2018.
Collective Medical, delivering the nation’s largest network for care collaboration, has secured $47.5 million in Series A funding.
The investment, led by Kleiner Perkins, will be used to expand and advance the company’s care team collaboration network accelerating efforts to drive better patient outcomes nationwide.
Bessemer Venture Partners, Maverick Ventures, Kaiser Permanente Ventures, Providence Ventures, Peterson Ventures, and Epic Ventures also participated in the round.
We’re putting collaboration at the heart of the solution to a fragmented healthcare system,“ says Chris Klomp, CEO of Collective Medical. ”Our job is to connect care teams. By arming providers and payers with real-time insights and a platform to seamlessly collaborate across organizations and care settings, we ensure patients don’t slip through the cracks.“ Klomp adds that, ”we are beyond excited and grateful to be joined by such an extraordinary group of investors who share our vision for further enriching and expanding our network to help care teams provide the most effective care possible."
Collective Medical will use the funding to expand and advance its network with the goal of empowering care teams across the country to provide patients with the most effective care. As a part of this effort, Collective Medical plans to expand its leadership team and scale its engineering, clinical support, sales and marketing organizations.
The company anticipates hiring more than 100 additional team members in the next 12 - 18 months, with the majority based in its Salt Lake City headquarters.
Collective Medical is endorsed as a best practice for emergency medicine by the American College of Emergency Physicians.
The company has been recognized by Inc. Magazine and by the MountainWest Capital Network as one of Utah’s fastest growing companies.