FOR IMMEDIATE RELEASE
February 12, 2019
Contact: Nick Mercadante, CEO
Telephone: (860) 490-7355
PursueCare Raises Growth Round To Launch Telehealth Opioid Addiction Treatment Network
Underserved and Stigmatized Opioid Use Disorder Patients Can Access Treatment, Counseling and Pharmacy Services from a Smart Phone App.
MIDDLETOWN, Conn., Feb. 12, 2019 /PRNewswire/ — PursueCare (https://www.pursuecare.com), a technology-enabled health services startup aiming to help solve the nation’s growing opioid epidemic, is launching a first-of-its-kind telehealth opioid addiction treatment network available to patients through an iOS/Android mobile app, tablet, or computer. The company has raised a growth capital round investment from a group of investors, led by WRD Capital and Starboard Capital Partners, and is solidifying commitments for additional funding. The external investments will go toward helping the founders expand the company’s technology services offering and provider network of addiction treatment physicians, counselors, and outpatient programs, as well as the company’s Joint Commission and safe pharmacy-accredited mail-order pharmacy already licensed in 20+ states.
PursueCare partners with addiction treatment providers and programs to increase access, enhance service offerings, and create efficiencies and cost-savings in the process.
The company leverages telehealth technology together with management services supporting the partnering providers, including referral coordination, marketing, scheduling, billing and population health data. The platform connects providers with remote patients needing enhanced and more convenient recovery resources. The company is also marketing the platform as a no-cost solution that emergency departments and inpatient facilities can transition patients to upon discharge.
The app allows users to input insurance information or choose payment options and select providers that fit their needs and schedule. Users can also request “on-demand” sessions with certified addiction counselors through secure video conferencing technology. The integrated pharmacy can fill and mail medications like suboxone and naloxone with a prescription. The company’s vision is to put a full continuum of addiction recovery resources in the patient’s hand, wherever they are and whenever they need them.
“Many communities don’t have sufficient care options, and evidence suggests that traditional care models simply aren’t enough,” said Nick Mercadante, CEO and Co-founder. “We are removing barriers to increase access to stigma-free and convenient resources needed for harm reduction and lasting recovery.”
Mercadante added, “It’s hard for individuals in crisis and in recovery alike to attend time-intensive programs and juggle disparate providers through stigma and the ordinary struggles of daily life. Seemingly basic things like finding transportation, time off of work, or someone to watch your children might mean not getting help when it’s needed. Even walking into conventional pharmacies presents a challenge. We need to make it easier to self-help than it is to self-medicate or self-harm.”
About WRD Capital
WRD Capital is a Connecticut-based venture capital firm. Robert Dahl, a managing director and co-founder at WRD Capital, was a founding member of Arrowhawk Capital Partners and spent seven years as the head of Global Healthcare for the Carlyle Group, a leading private equity firm with over $200 billion in equity under management.
“We are fortunate to partner with the superb team and co-investors involved with PursueCare to create the preeminent telehealth platform for opioid addiction recovery treatment and services,” said Dahl.
About Starboard Capital Partners
Starboard Capital Partners is a private equity firm that sponsors lower and middle market companies with values ranging from $25 million to $100 million.
“We are excited to leverage this innovative concept to provide better solutions for those affected by opioid addiction and co-occurring mental health disorders,” said Marc Bergschneider, Managing Member of Starboard.