American Well Receives $80 Million in Funding

Dec. 16, 2014
Boston-based telehealth vendor, American Well has raised $80 million in funding and added various investors to its ownership team.
Boston-based telehealth vendor, American Well has raised $80 million in funding and added various investors to its ownership team. 
American Well, which runs a direct-to-patient telehealth platform that has been used by various health systems, payers and employers, says the new funding will support mobile and web-based applications. The investors include health plans and academic medical centers, specifically Jefferson Health System and Anthem Inc., according to the company’s announcement. 
Stephen Klasko, M.D., President and CEO at Jefferson Health System, said in a statement: “With American Well’s technology, the patient doesn’t have to wait to be really sick to engage with their doctor. We believe that telehealth can dramatically improve readmission rates and will play a major role in patient care now, and into the future.”
American Well’s latest investment comes at a time when similar, “direct to consumer” products are taking hold in the market. One of the company’s competitors, TelaDoc, raised $50 million on its own this past fall

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