Scene Health – a leading medication engagement company – announced it has closed an oversubscribed $17.7 million Series B growth financing led by ABS Capital Partners with participation from existing investors Claritas Health Ventures, Healthworx (the investment arm of CareFirst BlueCross BlueShield), PTX Capital, and Kapor Capital. This funding round is the latest validation of Scene Health’s unique video-based platform, which facilitates people to take medication properly through person-to-person connections every day.
This funding announcement comes on the heels of:
– A recent CDC endorsement of video Directly Observed Therapy (video DOT) as equivalent to in-person DOT for tuberculosis treatment.
– An announcement of a $1.67 million National Institutes of Health (NIH) grant allowing Scene to provide medication adherence support to pediatric heart transplant recipients in Florida.
– Scene reaching a milestone of impacting over 200,000 lives with over 40 million engagements through its 360° model of care.
Medication nonadherence is known as a $500 billion challenge in the U.S. and it is the leading cause of preventable hospitalizations. Scene’s solution provides personalized engagement through video technology, clinical coaching, and validated interventions for improving medication adherence rates and addressing barriers related to social determinants of health.
Through daily one-on-one video and in-app chat interactions, Scene’s care team of pharmacists, nurses, and health coaches build relationships with patients like young Elajah to improve their medication administration technique, adherence, and motivation.
What the funding will be used for: The proceeds will enable Scene to accelerate its ability to serve Medicaid and Medicare managed care plans, pharmaceutical companies, and clinical research organizations. And the funding brings the total investment in Scene to over $25 million since its founding in 2014.
KEY QUOTES:
“This is an incredible opportunity for Scene Health and it comes with a very important obligation to meaningfully impact millions of people who struggle with chronic and infectious conditions. Nonadherence, or not taking medication as prescribed, is one of the most insidious causes of mortality and cost in our healthcare system. We’ve taken the gold standard solution to the problem from the inpatient setting and enhanced it for scale in outpatient care using video technology and a compassionate care team. This funding is a critical milestone to defining a new, modern standard for supporting medication adherence using evidence-based public health strategies.”
- Sebastian Seiguer, co-founder and CEO of Scene Health
“Scene’s solution directly aligns with the quadruple aim in healthcare – enhancing the patient experience, improving a population’s clinical and quality outcomes, improving care providers’ work lives, and reducing costs. We are thrilled to be partnering with Scene and its experienced team to expand the scope of Scene’s positive patient engagement and impact, while meaningfully reducing the financial burden associated with medication nonadherence for Scene’s varied customers.”
- ABS Capital Partner Cal Wheaton who led the investment and will be joining Scene’s board of directors
