Form Health, a telemedicine startup focused on obesity and weight loss, announced a $12 million Series A funding led by M13 with participation from SignalFire and NextView Ventures.
According to the company, the Series A funding will enable it to expand its telehealth services for the US population. “Form Health is excited to expand awareness, expand insurance coverage, serve many more patients, and enable healthier lives without judgment and stigma, said Form Health Founder and CEO Evan Richardson.”
“Form Health provides patients with access to an empathetic and medically trained team whenever and wherever is most convenient. In Texas, the average distance between a Form Health patient and a doctor is 160 miles. The ability to offer American Board of Obesity Medicine clinicians via telehealth is the key to unlocking true access for patients, the vast majority of whom do not have access to convenient, timely medical obesity care. In the months to come.”
Form Health offers a medically supervised weight loss program delivered through a smartphone app. The program is designed to support patients’ weight loss goals and is supported by a staff of board-certified physicians and registered dietitians trained in obesity management.
Each patient is paired with a physician and dietitian team for frequent check-ins that incorporate medical guidance and behavioral, nutrition, and activity changes for lasting weight loss and improved health. According to Form Health, its program helps patients lose up to 15% of their body weight at three months and up to 20% at six months.
“We now know that obesity is a medical condition and that genetics and other biological factors influence an individual’s weight,” says Dr. Florencia Halperin, Form Health’s Chief Medical Officer. “Many, many people have tried to lose the excess weight that impacts their overall health and are unable to do it through lifestyle changes alone. For those patients, Form Health carefully develops a custom medical approach that may include medication. Our goal is to help our patients attain and maintain a lifetime of improved health.”
Telehealth has the most funded category in digital health during the first quarter (Q1) of 2021, raising a total of $2.4 billion, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.