January 4, 2018
Echo Health Ventures (EHV), a strategic collaboration of Cambia Health Solutions and Mosaic Health Solutions to invest in innovative health care services and health care information technology companies, announced the completion of a growth investment in Phreesia, the nation’s leading patient intake management platform. Phreesia manages intake for over 70 million patients annually across its rapidly expanding network, and the company has checked in more than 15 percent of the U.S. population since its founding.
“We’re excited and honored that Echo Health Ventures is making this investment in Phreesia,” said Phreesia CEO Chaim Indig. “Their deep expertise and innovative, patient-centered approach will be invaluable to us as we continue to grow, scale and work to improve patient care.”
Founded in 2005 and headquartered in New York, Phreesia aims to provide a modern, engaging patient experience while giving health care organizations the tools to better understand their patients and improve health outcomes. The company’s innovative SaaS-based intake platform streamlines the patient experience by providing convenient registration, multiple intake modalities, and flexible, private, and secure payment options. Phreesia is uniquely positioned to connect with patients before, during and after their visit to their provider, offering proven engagement strategies that alleviate critical pain points in the consumer journey.
“The Phreesia leadership team has built an impressive business and we are excited to partner with them in the next phase of their growth,” said Echo Health Ventures Partner, Dusty Lieb. “Phreesia sits at the nexus of the patient-provider relationship, and their focus on reframing how people engage in and purchase their health care strongly aligns with EHV and our parent companies’ commitment to improving the health care consumer experience.”
The financing round was led by EHV with participation from existing investors, LLR Partners and Ascension Ventures. EHV’s approach to corporate investing is focused on building a health care system centered on people and their families. By leveraging strategic relationships, talent and capital from established industry leaders and influencers, EHV is transforming the corporate venture model to build a more sustainable health care system.