Wildflower Health Closes Series A Round to Fund Enterprise Expansion for Mobile Health Platform
SAN FRANCISCO, December 12, 2013-- Wildflower Health, maker of mobile maternity program Due Date Plus, announced today that it has closed a Series A financing. Investors include KMG Capital Partners, Cambia Health and HealthTech Capital. The funding will be used to expand the company's mobile health offering to health plans, self-insured employers and Medicaid clients.
Due Date Plus is a mobile maternity program that uses self-reported data to identify high-risk pregnancies and drive interventions by delivering customized tools and content, referring users to care management programs, and in some cases steering towards high quality providers.
"In less than a year's time we've been able to launch Due Date Plus and reach more than 50,000 pregnant women," said Wildflower Health CEO Leah Sparks. "With this capital, we are poised to grow even faster by expanding distribution of the program through enterprise clients."
Maternity and newborn care is the top driver of hospital charges in the United States at over $100 billion annually, according to data from the U.S. Agency for Healthcare Research and Quality (AHRQ), More than half of these costs are due to pregnancy complications such as preterm birth, and many of these costs can be avoided by early intervention.
"Maternity is a top cost area for almost every employer, which means it's a priority area for health plans," said Tom Rodgers, who is Director of Strategic Investments for Cambia Health and who is joining the Wildflower Health Board of Directors. "And while many health plans and employers offer support programs to expecting moms that can reduce costs, they struggle to engage women early enough in pregnancy to have a meaningful impact and to help them tap into the right resources. Wildflower Health is enhancing the utility, accessibility and results of these programs, and we are investing because they support our company's drive to promote pioneering programs that help reduce costs while improving individuals' experience within the healthcare system."
Due Date Plus, which debuted earlier this year, helps women manage their health during pregnancy, including directing women to programs available under their health benefits. "Integration with care manager call centers and local resources makes Due Date Plus a very rich and impactful experience," said COO Kathy Bellevin. "We've referred thousands of women with high-risk pregnancies to programs offered by their health plans. And with over half of our users registering in their first 7 weeks of pregnancy, we are able to refer them early, when it can benefit them most."
"This is a great space, and Wildflower is assembling the right team to succeed," said Kerry Hicks, Vice Chairman and Partner of KMG Capital Partners, who is joining Wildflower Health's Board of Directors along with Rodgers. "Mobile in healthcare is exploding and we see Wildflower Health becoming the leading maternity solution for both large and small healthcare enterprises."
"We know the time is right for mobile technology solutions that enable people to optimally manage their own health and wellness while conveniently connecting them with healthcare system resources," said Sparks. "This investment will accelerate our development of programs that bring the power of mobile engagement to the healthcare system."
•Wildflower Health is a San Francisco-based mobile health company that produces mobile programs connected to the healthcare system. The company was founded in 2012 by Leah Sparks and Kathy Bellevin.
•KMG Capital Partners is a Colorado-based investment company whose partners have spent their careers in senior positions at various health care companies.
•Cambia Health Solutions is a nonprofit total health solutions company based in the Pacific Northwest/Intermountain region, serving consumers and communities for nearly 100 years. Cambia companies provide a wide range of products and services, including healthcare information technology and software development, retail healthcare, health insurance plans that carry the Blue Cross and Blue Shield brand, life insurance, pharmacy benefit management, consumer engagement and wellness. For more information, please visit www.cambiahealthsolutions.com.
•HealthTech Capital is a group of private investors dedicated to funding and mentoring new "HealthTech" startups. They have created a new ecosystem with leading edge clinical providers, venture firms and other strategic industry players. They mentor and invest in new "HealthTech" companies that decrease healthcare cost and empower patients by leveraging computer and mobility technology. (www.HealthTechCapital.com)
•Proceeds from the financing total more than 1.7M, with participation from KMG Capital Partners, Cambia Health, HealthTech Capital and individual investors.
•Wildflower Health secured seed funding in late 2012 through Rock Health, which funds and supports early-stage digital health startups. www.rockhealth.com
•Kerry Hicks founded HealthGrades in 1998 and served as Chairman (1998 – 2010) and Chief Executive Officer (1998 – 2012), growing the company into the premier destination for consumers seeking information about doctors and hospitals before selling the company to Vestar Capital Partners for $295 million in 2010.
•Due Date Plus is available on iOS and Android.
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