Solera Health ( Solera) announced a $42 million funding round, led by HCSC Ventures, as the health plans invests in the company’s marketplace model to address chronic disease, social determinants of health and addiction (SDOH). The Series C round, Solera’s largest to date, brings its total funding to $72 million.
This latest capital infusion will allow the Phoenix-based company to extend the impact of its novel marketplace and payment innovation model which allows health plans and employers to leverage a network of community and digital health solutions paid through medical claims for achieving clinical outcomes. Over the past 12 months, Solera’s network has evolved to support a broader array of lifestyle modification programs, including diabetes management, hypertension, stress, sleep, tobacco cessation, and weight management. This new round of funding will allow Solera to scale beyond its proven model for chronic disease prevention and management to address behavioral health and SDOH including food insecurity, medically tailored meals, transportation, falls prevention, and social isolation.
Solera Health is committed to changing lives by guiding people to better health in their communities. The company serves as an integrated benefit network that connects patients, payers and physicians with community organizations and digital therapeutics providers, simply and securely.
HCSC Ventures a wholly-owned subsidiary of Health Care Service Corporation that invests in innovative health care companies working to improve the quality of care, lower medical and administrative costs, reduce complexity and improve consumer experience.
This was reported by Solera Health on May 15, 2019