Reperio Health, a provider of at-home and onsite comprehensive health screenings with instant results, announced that it has successfully closed a $14 million funding round, led by Caduceus Capital Partners.
Value proposition: By launching new partnerships with employers and health plans, Reperio will help more Americans get vital preventive health care at a crucial time, as provider access plummeted and existing virtual health and at-home testing solutions have failed to bridge the gap. As many incumbents in the industry have attempted to retrofit older business models through methods such as mergers and acquisitions to meet current consumer demands, Reperio offers consumers an unparalleled experience built from the ground up, with convenience and advances in AI at its core.
How the screening kit works: Reperio offers each patient or member with a comprehensive at-home screening kit containing FDA-cleared, Bluetooth-connected medical devices that pair with a user-friendly mobile app. And this app guides the end-user through a complete preventive care screening in the comfort of their own home. They get results instantly for blood pressure, heart rate, body mass index, relative fat mass, blood glucose, total cholesterol, HDL cholesterol, LDL cholesterol, and triglycerides. Their solution also simultaneously reduces strain on providers and the health care system at large by enabling a built-in AI-assistant to quickly analyze data, provide insights and follow-up recommendations, ultimately saving them time without sacrificing quality of care.
Reperio kits are sponsored by health plans and employers, usually at no cost to their members and/or employees. And Reperio has perfected their client experience over more than 40 launches and thousands of screenings in just 18 months of commercialization and achieved a near-perfect renewal rate. The less-than-30-minute test has earned a 95% customer satisfaction rate.
What the funding will be used for: This funding will help Reperio bring its proven model of convenient at-home preventive screenings with instant results and seamless on-demand virtual care nationwide. And this fundraise enables Reperio to build on their successes as they scale ReperioCare, which now allows an end-user to engage with a clinician immediately at the conclusion of their screening, eliminating the gaps in care that result from asking people to wait for days or weeks for lab results and to then re-engage. Then the clinician can review the findings and establish personalized health insights. This real-time virtual consultation following a screening is globally unique to Reperio: the at-home preventive care experience is on-demand, data-driven, and hyper-personalized to the end-user.
KEY QUOTES:
“Three out of every five Americans are walking around today with an undiagnosed and untreated chronic condition. That’s unsustainable for our health care system’s finances, and unacceptable for those patients and their families. At Reperio, we’re not tinkering around the edges – we’ve created an entirely new model of virtual and preventive care that helps more people get the care they need, and we’re going to make sure it reaches as many Americans as possible.”
Travis Rush, CEO and co-founder of Reperio
“When we first invested in Reperio, we were intrigued by the team’s deep commitment to consumer convenience and experience. Existing at-home tests all too often rely on outdated lab-based services that come with high costs and long wait times. But with Reperio, we have seen a new dawn in the testing experience. Reperio Health’s clients have seen their participation rates in preventive screenings jump by more than 200 percent – drawing anywhere from four to eight times the return-on-investment. Reperio has delivered on their promise, proven product-market fit, and now it’s time to pour gasoline on this game-changing model as they expand their on-demand virtual visits nationwide.”
Dave Vreeland, Senior Managing Partner, of Caduceus Capital Partners
