Health navigation platform Amino Health has received $42 million in debt financing from Oxford Finance as part of its $80 million fundraising in May.
WHAT ARE YOU DOING
The California-based company connects its members with physical and mental health care providers and benefit programs, and allows its members to book appointments and keep track of their preferred providers. It also distributes cost and quality ratings for providers and facilities.
Amino will use the funds to accelerate its growth, add to its team, expand its market reach and advance its technological infrastructure.
“We are delighted to support Amino in its mission to transform the healthcare navigation experience,” Rohit Gandhi, senior director at Oxford, said in a statement. “Amino has demonstrated tremendous innovation and disruption in the digital health space, and we believe their platform has the potential to revolutionize the way individuals access and navigate healthcare services. This investment reflects our confidence in Amino’s leadership, vision and ability to make a significant impact on the industry.”
MARKET PRESSURE
The company started as a direct-to-consumer platform. It has since transitioned to an enterprise subscription model with members from health plans, benefits administrators, third-party administrators and care vendors.
In 2017, Amino grew $25 million in Series C funding.
Other companies in the cruise care space include Rightway, an employee-focused pharmacy care and benefits navigation platform, and Accolade, which provides virtual healthcare and care and benefits navigation services.
