$13.5M Series A funding was provided by Free Market Health, a Pittsburgh-based company that develops healthcare technology.
Alta Partners was the leader of the round with participation from Highmark Ventures, 653 Investment Partners and Highmark Ventures.
The company plans to use the funds for scaling its care-driven marketplace platform.
Joe Cardosi, founder and CEO, is Chief Technology Officer Mark Conklin. Mike Simas, Chief Operating Officer, and Don Vidic are the Chief Commercial Officers. Free Market Health partners closely with specialty pharmacies and payers of all sizes in order to streamline the complex specialty medication fulfillment processes and ensure that patients have access to lifesaving or life-altering medications as quickly as possible.
The cloud-based marketplace platform complements and augments a payer’s existing processes and vendors to facilitate the timely match of specialty medication referral and pharmacy while balancing the cost and value of care. Free Market Health allows payers to match the best-fit pharmacies. This allows them to manage continuity of care and create meaningful savings. All types of specialty pharmacies have fair access to payer-authorized special medication referrals that may be suited to their business model and care. Patients receive optimized care from qualified specialty pharmacies that are able to meet their needs.