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| 9amHealth Raises $9.5M Series A Extension Led by The Cigna Group Ventures to Expand to Employers Nationwide | ||
| By: PR Newswire Association LLC. - 20 Feb 2024 | Back to overview list |
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After being selected by leading PBMs, Benefits Navigators, and Health Plans as the virtual cardiometabolic provider of choice, 9amHealth increases the round's total to $25M SAN DIEGO, Feb. 20, 2024 /PRNewswire/ -- 9amHealth, the leading virtual provider for cardiometabolic health, announced it has raised $9.5 million in a Series A extension round today. The financing round was led by The Cigna Group Ventures, with additional support from existing institutional investors, including 7Wire Ventures, Define Ventures, Leaps by Bayer, and Founders Fund.
A recent survey conducted by 9amHealth found that 48% of Americans are on or want to be on a GLP-1 medication, and a staggering 20% would even change their jobs to get access to coverage for the drugs. These life-long treatments deliver impressive clinical outcomes but come with a high price tag, putting employers and healthcare insurers under pressure. 9amHealth is addressing this challenge by providing affordable cardiometabolic care at scale and helping to manage the rising costs of GLP-1s for both patients and employers. "GLP-1s have caught the attention of Americans who have never been engaged in the healthcare ecosystem before," said Frank Westermann, co-founder and co-CEO of 9amHealth. "For the first time ever, we're seeing a significant uptick in patients who are excited about taking care of their diabetes and weight health. But with such a high price point, employers are in need of smart solutions to manage costs and the expectations of employees. With this additional funding, 9amHealth will be able to expand access to the highest standard of medical care to more Americans while curbing medication spending." This new capital will fuel 9amHealth's growth strategy and product roadmap, further scale the company's existing solutions, and expand its internal team of care specialists, doctors, medical advisers, and more. The funding will also further improve 9amHealth's already stellar patient experience through higher quality of care, improved health outcomes, and additional cost savings for both patients and employers. To date, 9amHealth has seen an ROI of up to 4x and up to $284 monthly gross savings per member per month. "The Cigna Group Ventures' mission is to partner with companies and entrepreneurs that are engaging patients in new ways to ultimately improve their health outcomes," said Craig Cimini, head of The Cigna Group Ventures. "9amHealth has made great strides in improving access to care for patients diagnosed with obesity and diabetes, and we are excited to help accelerate their next phase of growth." 9amHealth has earned the trust of patients managing diabetes, obesity, hypertension, and other cardiometabolic conditions by carving out the burdensome parts of healthcare, bringing together a multi-specialty provider team, home-delivered medications, and at-home lab services. For employers, 9amHealth is already a preferred partner for many of the nation's leading pharmacy benefit managers, benefits navigation platforms, and health plans for simple contracting. Diabetes affects 11% and obesity 41.9% of the US population, collectively representing some of the most prevalent chronic conditions in the United States. The 9amHealth team of endocrinologists, obesity medicine specialists, nutritionists, and clinical pharmacists develop tailored treatment plans for long-term success. Clinical outcomes show an impressive A1c reduction of 2.1 in patients with an A1c of 8% or greater, 14.5% body weight reduction, systolic blood pressure reduction of 17.7mmHg, and 95.61% medication adherence among 9amHealth members over 6-12 months. About 9amHealth
SOURCE 9amHealth 
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