Ride Health Raises $ 10 Million to Develop National Medical Transport Platform
NEW YORK, June 21, 2021 / PRNewswire / – Driving health, providing smarter transportation for all patient needs, today announced the closure of a $ 10 million fundraising round led by Topmark Partners. The tour also includes a new investor’s equity investment Excelerate Health Ventures and the debt financing of Bridge bank, alongside the participation of all members of the existing investor syndicate led by Activate business partners and Newark Enterprise Partners. The funding follows a record year of growth for Ride Health in 2020, which saw the company expand operations to 41 states while multiplying more than fivefold in response to an increased need to support access for at-risk populations and underserved in health care and social services.
Ride Health was founded to modernize the non-emergency medical transportation (NEMT) industry’s analog approach to ride coordination, delivering an end-to-end transportation solution that automates ride planning, ride communications and management of benefits on a national carpooling network. services, taxi companies and NEMT providers. The company partners with health plans, healthcare providers and life science organizations to manage the benefits of transportation and corporate programs focused on improving clinical outcomes for populations facing obstacles to transport.
Ride Health’s web-based platform is built on deep integrations with dispatch software used by transportation providers today, enabling the product to provide real-time visibility across the range of vehicle types and levels. service required to effectively serve complex populations. The company leverages these inputs to support data-driven approaches to benefit design, performance management and route interventions that align NEMT market incentives, reduce administrative burden and improve patient experience.
“The dispersion of care to home and community settings has accelerated over the past year, with seamless patient and staff mobility becoming a key infrastructure,” said Imran Cronk, CEO and Founder of Ride Health. “Our agile, patient-centric approach has positioned Ride Health as a leader in this future. We are delighted to have the support of our partners and investors to accelerate our mission to ensure that every patient has access to care and social resources. “
Ride Health plans to use the proceeds of this cycle to continue investing in the expansion of its national transportation network, benefit management system, and platform APIs which are essential to enable transportation-based approaches. the value. The company’s state-of-the-art mobility infrastructure enables entirely new ways of delivering patient transportation, from claims-driven benefit structures with dynamic ride authorizations to awareness of inter-agency benefits enabling health plans to expand. entrust the coordination of routes to the hands of clinical staff closest to a patient.
“Ride Health brings a technology-based approach to a vital part of our healthcare system,” said Model Brian, Managing Partner, Topmark Partners. “We look forward to supporting their market-leading product as they continue to transform this rapidly growing industry that relies on outdated systems and manual workflows. “
About Ride Health
Ride Health partners with healthcare organizations and transportation providers to manage transportation benefits, strengthen corporate transportation programs, and improve access to healthcare and social services for complex populations. We combine technology and data with a human approach to break down barriers to access and solve some of the biggest transportation challenges facing payers, providers and life science organizations. Our platform maps each patient’s unique needs and preferences for the best driving experience among clinical and social needs, ensuring better access, improved efficiency, lower costs and better outcomes. Learn more about www.ridehealth.com.
About Topmark partners
The Topmark Partners team has been investing in growing companies since 1999. Topmark Partners develops relationships of trust with experienced entrepreneurs and supports its portfolio companies in the most dynamic phases of their life cycle. Situated at Tampa, Florida, Topmark Partners invests in businesses led by entrepreneurs applying proven technology to solve a business problem. These tech-driven companies typically generate $ 3 million at $ 30 million of sales and are at or near breakeven. Topmark Partners targets investments of $ 2 million at $ 7 million in each company in the portfolio. Learn more about www.topmarkpartners.com.
SOURCE Driving health