Local Infusion – a leading tech-enabled infusion provider – recently announced it has closed on a $10 million Series A funding round led by Blisce with participation from Meridian Street Capital and existing investors. The new funding round will expand the company’s footprint to New Jersey, Connecticut, and Maryland in 2024 and build out the company’s proprietary referral and care coordination technologies.
The company delivers comprehensive value-based care and infusion therapy to patients with chronic autoimmune diseases on specialty medications. And Local Infusion focuses on patients with chronic conditions like Crohn’s disease, rheumatoid arthritis, multiple sclerosis, and more, through quality, near-home infusion centers and personalized virtual care. Local Infusion’s innovative care model puts patients first with an offering that includes night and weekend scheduling, financial guidance, private infusion suites, and 24/7 access to a dedicated care team – all while significantly reducing the overall cost of care.
Local Infusion grew rapidly in the last year, from opening its first center last December to now operating 4 locations across Maine and New Hampshire. And the company is the trusted infusion therapy provider for over 220 physicians in the Northeast and has entered into partnerships with a number of payors and employers covering over 1.3 million lives. Plus, Local Infusion works closely with primary care groups to coordinate care and lower the overall cost of care for at-risk entities.
Local Infusion will use the funding round to expand its footprint further in the Northeast U.S. with 16 additional centers in 4 new states. It will also hire key leadership positions across operations, payor partnerships, strategic finance, business development, and marketing. The company is also investing in proprietary machine learning technologies to power referral and care coordination – all to deliver best-in-class patient experience and care.
Local Infusion provides private suites, a dedicated infusion guide to assist patients with scheduling and financial guidance, flexible hours, convenient parking, and other amenities. And care is provided by on-site nurse practitioners and RNs.
KEY QUOTES:
“Infusion care remains one the last segments in healthcare where Value Based Care has yet to fully take hold. Local Infusion is changing that through its comprehensive care model that addresses symptoms and patient care beyond the four walls of the infusion center.”
– Sam Giber, General Partner & Managing Director of Blisce US
“After nearly a year in operation, with locations across Maine and New Hampshire, we have proven that our innovative patient care model delivers better outcomes — with industry leading patient satisfaction, improved medication adherence, and the lowest referral to treatment, all while saving each patient on average over $40,000 per year. With this capital, we’re replicating our care model across the Northeast U.S., building out our leadership team, and investing in referral and care coordination technology.”
– Woody Baum, Founder & CEO of Local Infusion
“Local Infusion’s care delivery model has had an immediate impact in New England by lowering the cost of infusion therapy while providing an industry best patient satisfaction score. This funding will allow the company to accelerate growth to other markets where patients are underserved.”
– Scott Law, Meridian Street Capital’s general partner
