Exclusive: Virtual cardiology clinic Ventricle Health pumps $8M seed
Virtual cardiology care network Ventricle Health closed $8 million in seed funding, the company tells Axios exclusively.
Why it matters: In the U.S., 1 in 4 will develop heart failure — and without guideline-directed medical therapy, the two-year mortality rate for those patients is estimated at 35%.
Details: The round was led by RA Capital Management alongside Waterline Ventures.
- Proceeds will go toward building out a network of pharmacists, nurses, clinicians and cardiologists, CEO Sean O'Donnell says.
How it works: Ventricle Health's heart failure management therapeutic model collaborates with value-based care provider groups and payors, founder Daniel Bensimhon says.
- The company's care model is anchored around well-established guideline-directed medical therapy (GDMT) pathways, using a combination of up to four medications.
- The platform provides patients access to cardiology care appointments from their homes in as little as three days.
- "It takes three months to see a cardiologist on average," says Bensimhon. "And only 10%-15% of patients are on full guideline-directed medical therapy.
- Ventricle Health's home-based and virtually enabled care model is designed to reduce the overall average annual cost of heart failure care by at least 30-50%, according to Bensimhon.
What's next: The runway for the funding is dependent on the market opportunity and demand, O'Donnell says.
- "We will need to bring in capital at some point to continue to fuel the growth," he says.
- "We are having direct discussions with national carriers and large value-based management services, as well as looking into Medicare-related risk in their populations," he adds.
What they're saying: "One thing we liked about the company is that they are providing a full solution for patients, providers and payers that overlays on top of existing infrastructure and it is highly scaleable," says Anurag Kondapalli, principal at RA Capital.
- "They want to improve the health equity," and it frees up the physicians, allowing them to practice at the top of their licenses, Kondapalli says.
- "We are in the early innings of VBC in cardio and we see a long runway," he adds.
The big picture: Many cardiology patients are on the wrong treatment modality, says Bensimhon.
- This is also compounded by downward pressure on the industry like a lack of clinicians and a dearth of updated technology.
🎸 🏋️♂️ 1 fun thing: Bensimhon was a writer and editor for Men's Health and a writer at Rolling Stone before going to medical school to become a cardiologist.