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The company plans to open clinics in New Jersey, Connecticut, and Maryland next year
Local Infusion is a company looking to upend the infusion space, taking a process which currently involves monthly hospital visits, long waits, and little privacy, and make it patient-friendly by opening new clinics that incorporate new technology and an entirely new aesthetic.
A little over a year ago the company raised seed funding and opened its first clinic in Concord, New Hampshire, and now it's ready to expand into new states thank to a newly announced $10 million Series A funding round led by Blisce with participation from Meridian Street Capital and existing investors.
Local Infusion offers treatments for over 40 different conditions, including rheumatoid arthritis, multiple sclerosis, and Crohn's Disease, at clinics that offer night and weekend appointments, convenient parking, and zero wait time.
The technology incorporated in its clinics allow for digital or e-ordering, and an electronic intake process that improves the speed at which it can can process referrals. Additionally, the company has developed a data platform that allows it to extract and integrate data from multiple sources to measure quality outcomes.
Since opening its first clinic last year, Local Infusion has opened three more locations, and now operates in in Bedford, New Hampshire; South Portland, Maine; and Bangor, Maine. It's also become the infusion therapy provider for over 220 physicians, and has partnered with payors and employers to cover more than 1.3 million lives.
The company says the new funds will be used to expand its footprint to New Jersey, Connecticut, and Maryland in 2024. It will also be used build out the company's referral and care coordination technologies.
"After nearly a year in operation, with locations across Maine and New Hampshire, we have proven that our innovative patient care model delivers better outcomes — with industry leading patient satisfaction, improved medication adherence, and the lowest referral to treatment, all while saving each patient on average over $40,000 per year," Woody Baum, founder and CEO of Local Infusion, said in a statement.
"With this capital, we're replicating our care model across the Northeast U.S., building out our leadership team, and investing in referral and care coordination technology."
(Image source: mylocalinfusion.com)
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