SAN FRANCISCO--(BUSINESS WIRE)--Amino Health, the leading digital healthcare guidance company, today announced $80 million in both equity and debt financing led by Transformation Capital and Oxford Finance LLC, respectively. In the face of declining digital health investment, this funding underscores the success of Amino Health's proven model and enables the company to scale its technology and continue its strong growth trajectory.
Amino Health has dedicated the last decade to developing a digital navigation experience that intuitively guides members to high-quality, cost-effective care through their unique health plans and benefits. As the health technology market exploded with the launch of new solutions, Amino Health steadily grew to support 1.6 million members, with a 97% customer retention rate and a net promoter score of 80+. Today, the company connects members to high-value providers and facilities at three times the rate of the baseline population, influencing cost savings, increased member satisfaction, and improved health outcomes.
Though its founding roots are in providing a direct-to-consumer product, Amino Health now is delivered through an enterprise subscription model, bringing its configurable, industry-leading consumer solution to the members of participating health plans, third-party administrators, benefits administrators and concierge care vendors.
“While healthcare has evolved significantly over the last 10 years, Amino Health has remained steadfast in our commitment to the needs of patients by empowering them with the information necessary to make informed healthcare decisions,” said David Vivero, CEO and co-founder of Amino Health. “This investment and financing validates our core belief that putting people first has value in healthcare, and the need for pioneering technology solutions that support this endeavor is not only important – it’s imperative. In a crowded, highly regulated market, this funding will fuel Amino’s continued growth, product innovation and ability to facilitate deep integrations with enterprise partners to support more patients at scale.”
Amino Health’s easy-to-use technology platform views healthcare’s complexity as an inevitable result of the innovation taking place across the industry. Market expansion, new regulatory requirements, and an increase in available data – like the published negotiated rates required by the federal Transparency in Coverage (TIC) Rule – make navigation technology a critical tool for plan members and the companies that provide health benefits to them. In response to recent regulations, Amino Health enhanced its platform to surpass TIC Rule requirements by integrating new pricing data into their intuitive navigation experience that guides members to the highest quality, most cost-effective corners of their networks.
“Amino Health has the right combination of an experienced and values-driven leadership team, a technology stack designed for substantial scale and a partner-driven go-to market solution,” commented Mike Dixon, managing partner at Transformation Capital. “With their advanced data insights to personalized care recommendations for consumers, Amino Health is unlike any other player in the market. We’re excited to be part of their continued growth.”
Transformation Capital joins previous Amino Health investors including North Woodmere Capital, Commerce Ventures, Red Swan Ventures, and WTI. As part of today’s announcement, Mike Dixon will join Amino Health’s Board of Directors.
“For the past 20 years, we’ve partnered with innovative companies aiming to reduce costs and improve outcomes in healthcare,” said Rohit Gandhi, senior director, healthcare services at Oxford Finance. “Amino Health aligns with this vision, making it an ideal company to add to our portfolio. We’re looking forward to supporting them in their ongoing success.”
To get started with Amino or learn more, visit www.amino.com.
About Amino Health
Amino Health, the leading data-driven healthcare guidance platform, connects people with high-quality, cost-effective providers and benefits programs in context across the healthcare ecosystem. With more than 26B healthcare claims used to inform our actionable healthcare recommendations, Amino Health reduces wasteful claims spending, streamlines care routing, increases care quality, and improves care outcomes for plan sponsors and members. To learn more, visit amino.com.
About Transformation Capital
Transformation Capital is a digital health growth equity firm dedicated to supporting commercial stage companies focused on improving people’s health and the sustainability of the healthcare system. The firm was founded on the premise that investing in healthcare requires both a sophisticated understanding of the healthcare system, including the prevailing market forces and resulting opportunities, as well as deep connections with decision makers across key providers, payers and digital health innovators. Transformation Capital has invested in digital health companies across the ecosystem, including Datavant, Apree, Capital RX, Health Catalyst, Sword, Grow, Jeenie and Groups.
About Oxford Finance LLC
Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to over 500 companies, allowing borrowers to maximize their equity by leveraging their assets. Since 2002, Oxford has originated approximately $10 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices serving the greater San Diego, San Francisco, Boston and New York City metropolitan areas. For more information, visit https://oxfordfinance.com.