The Company built the first proprietary AI Care Copilot for its market-leading platform Phamily to solve for the clinical and financial needs of all healthcare stakeholders
Jaan Health, the company behind the AI-powered proactive care platform Phamily, announced it has secured more than $25 million in funding to accelerate the transformation of between visit care for millions of patients struggling with chronic conditions. The financing was capped by $15 million in non-dilutive growth capital from Level Structured Capital, a diversified private investment firm with more than $4.5 billion in assets under management that is focused on providing capital to rapidly growing software and technology-enabled businesses.
“Managing the ongoing needs of patients with chronic diseases is by far and away the number one challenge in healthcare and cannot be solved with an occasional doctor’s visit,” said Nabeel Kaukab, Founder and CEO of Jaan Health. “Over the past decade, we have established a novel virtual care platform and proprietary artificial intelligence, Phamily, that improves both patient outcomes and provider profitability for over 150 healthcare organizations, while significantly reducing the total cost of care for payors. Our new funding will enable us to extend the benefits of Phamily to millions more patients across the United States.”
Phamily is Jaan Health’s patient engagement software and AI that enables healthcare organizations of any size to deliver high-quality, proactive care management at population scale. With a multi-year track record of clinical and operational success, Phamily has served the needs of hundreds of thousands of patients, representing over 250 different chronic condition diagnoses, and changed the way physicians think about delivering high impact, between-visit care during an era of healthcare labor shortages and rising costs. This funding will enable the Company to build upon Phamily’s existing market leadership in virtual care, expand into new market segments and further penetrate health systems and integrated networks, while making key hires to support the company’s rapid growth.
“Jaan Health is seeing tremendous clinical demand for the Phamily platform, and sought the optimal financial partner to help them scale the next phase of their growth,” explained Barry Osherow, Partner, Level Structured Capital. “We were impressed that they had built a strong, successful, eight-figure business without needing institutional capital. In a market crowded with health tech companies making claims or predictions around AI, Jaan Health stands out for their proprietary data sets, operational strength, capital efficiency, and transformational vision for patient care at scale.”
“Phamily makes great care management accessible to thousands of our patients who need it,” says Bappa Mukherji, CEO of rural hospital management company Java Medical Group. “Like many health systems, our hospitals are under crushing pressure from decreased reimbursement and healthcare labor economics. Phamily not only lets us provide better care but enables us to do so with massive labor efficiency and fair compensation. We see Phamily as a key component of our patient care strategy, and we congratulate the Jaan Health team on securing the funding that will cement their long-term success.”
Health Technology Insights: Ajay Dhankhar joins Smith+Nephew as Chief Corporate Development and Strategy Officer
To participate in our interviews, please write to our HealthTech Media Room at sudipto@intentamplify.com
Source – PR Newswire
