Originally published by FinSMEs on August 10, 2022
Biofourmis, a Boston, MA-based global leader in virtual care and digital medicine, raised an additional USD20m in Series D financing.
Intel Capital, the strategic investment arm of chipmaker Intel Corporation, joined its in an extension that brings the total funding raised in the round to $320M. The initial Series D funding round was announced in April and was led by global growth equity firm General Atlantic with participation by CVS Health (NYSE:CVS), Trevor Fetter and existing investors.
The company intends to use the funds to scale up its virtual care offerings that drive high-quality care-at-home across the continuum as well as digital medicine initiatives, including building digital companion therapeutics to augment existing and upcoming novel therapies.
Ld by Kuldeep Singh Rajput, founder and CEO, Biofourmis is a global leader in providing advanced technology and clinical support for Care@Home and digital therapies. Its clinically validated platform, powered by machine learning and advanced analytics, enables healthcare, maximizes the effectiveness of drugs, and lowers costs across the entire care continuum.
Biofourmis today also announced the appointment of two healthcare leaders to its Board: Trevor Fetter, MBA, senior lecturer on the faculty of Harvard Business School and former longtime Tenet Healthcare Chairman and CEO; and Sachin H. Jain, MD, MBA, president and CEO of SCAN Group and SCAN Health Plan.