BOSTON--(BUSINESS WIRE)--Form Health, a pioneer in the emerging field of obesity telemedicine, announced $12M in Series A funding led by M13 with participation from SignalFire and NextView Ventures.
The ongoing fight against COVID shone a spotlight on obesity and other chronic health conditions which, in addition to creating elevated risks of infectious disease, are financially costly and impact productivity. Many chronic conditions can be improved or prevented with weight loss management but millions of people aren’t getting the obesity care they need. Form Health aims to help patients whose weight is impacting their health with its science-backed personalized program that combines virtual care from board certified physicians with FDA-approved medications. By accepting most insurance and offering its services exclusively via telehealth, Form Health removes barriers for individuals with limited access to high quality weight management care.
Form Health was founded by Evan Richardson, a member of the founding management team at Grand Rounds, the leading patient-centric virtual care platform, and an early employee of Castlight Health. The company’s Chief Medical Officer, Dr. Florencia Halperin, is a Harvard Medical School trained endocrinologist who co-founded and co-directed the Center for Weight Management and Metabolic Surgery at Brigham and Women’s Hospital.
Form Health created an approach designed to support patients’ weight loss goals at every step of the process. Studies show that frequent touchpoints with clinicians contribute to weight loss and overall improved health. Form Health employs 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. Overall, Form Health patients lose up to 15% of their body weight at three months and up to 20% at six months.
The Series A funding will enable Form Health to expand availability to 90% of the US population. Form Health Founder and CEO Evan Richardson said, “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 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 is excited to expand awareness, expand insurance coverage, serve many more patients, and enable healthier lives without judgment and stigma.”
“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.”
M13’s General Partner Latif Peracha said, “Obesity is a burden on our healthcare system ($147B spent in 2008) and on the more than 40% of American adults who have obesity and consequences such as lost productivity, stigma and chronic health conditions. In 2013, the medical community diagnosed obesity as a disease, and this important shift will spawn innovative solutions and reduce social stigma. Form Health is at the forefront of this movement, and the team has developed a program that combines diet, physical activity, behavioral science and medication all delivered via telehealth. Based on the sustained results of Form’s early patients, we believe the company will become a leader in obesity care with results not only for patients but also constituents including physician specialists and insurance companies as we move from fee for service to a value-based healthcare system.”
"Life Changing!” exclaims current Form Health patient Victoria. “I’ve been in Form Health for about six months and have lost over 60 pounds. The program is personalized to address your specific needs, likes, and dislikes. Unlike most weight loss programs, you work in collaboration with a doctor and dietitian, which allows for long term optimal success.”
Form Health is currently available in 21 states across the US including CA, IL, NY, PA, TX, and VA. As a medical service, reimbursed care may be covered by insurance at little or no cost.
About Form Health
Form Health is a medically supervised weight loss program delivered through your smartphone. We bring board certified physicians and FDA-approved medications to help patients make changes to their lives, lose weight, and keep it off for good. To find out more or to enroll, visit www.formhealth.co.