Humana Announces $100 Million Investment in Heal for Telehealth

Heal, a doctor’s appointment and a telehealth platform, announced a strategic partnership, including a $100 million investment from Humana.

Under the partnership terms, Humana and Heal will further expand their value-based primary care offerings via virtual and in-home encounters to new geographical markets such as Chicago, Charlotte, and Houston. Further, the partnership also allows the two companies to deliver primary care services to Humana members.

Heal currently operates in seven states – California, New York, Georgia, New Jersey, Virginia, Washington, and Maryland – as well as Washington, D.C.

“The partnership with Heal is part of Humana’s efforts to build a broader set of offerings across the spectrum of home-based care, with high quality, value-based primary care being a key foundational element,” said Susan Diamond, Humana’s Segment President, Home Business. “We continue to see high levels of customer satisfaction and improved health outcomes when care is delivered in the home. Our goal is to make the healthcare experience easier, more personalized, and caring for the people we serve and is the hallmark of how Humana delivers human care.”

As part of the collaboration, Susan Diamond will join the Heal Board of Directors.

According to a report from the American Hospital Association, 74% of U.S. consumers would be open to using telemedicine services, and 76% prioritize having access to care over the need for human interactions with care providers.

Patients can organize a telemedicine or in-home visit through the Heal app and website with a certified or licensed doctor, the company said. According to Heal, it has delivered on over 200,000 home visits through their mobile app and website.

Heal charges $69 for a 20-minute session.

The first half (1H) of 2020 shattered all previous 1H global VC funding records, with $6.3 billion in new investments, which was 23% higher compared to $5.1 billion raised 1H 2019, according to Mercom’s 1H Digital Health Funding and M&A report.

“Humana’s investment and strategic partnership are an irreplaceable catalyst to make doctor house call based primary care an affordable and effective reality for all Americans. We’re honored to work with the entire Humana team so that one day soon, all of us can open our doors to better care,” said Nick Desai, co-founder and CEO of Heal.

Heal, founded in 2014, has raised over $170 million to date, including a $20 million Series C funding round in 2018, from Bascom Ventures, Inflection Capital, IRA Capital, RLJ Equity Partners, and Trans-Pacific Technology Fund.

Telehealth companies raised almost $1.9 billion in 1H 2020.

Image Credit: Heal