IVX Health announced today that it completed a $100 million Series F minority investment round from Great Hill Partners.
Nashville, Tennessee-based IVX plans to utilize the funding to accelerate its entry into new markets in 2022 and beyond in its effort to make its outpatient infusion centers the country’s preferred destination for pharmaceutical care for patients with complex conditions.
According to a news release, the complex conditions treated at the more than 50 IVX infusion centers in the U.S. include multiple sclerosis, Crohn’s disease, and rheumatoid arthritis, among others. The company seeks to offer an alternative to hospital-based infusion and injection services through a cost-effective, convenient site of care that guarantees private suites and flexible, on-demand scheduling, including evenings and weekends.
“Our primary goal has always been to provide world-class service and clinical excellence to the patients we serve,” IVX Health CEO Doug Ghertner said in the release. “IVX and Great Hill both see an inflection point in infusion therapy, as the growth in diagnosed autoimmune conditions and trends toward patient choice have aligned with an uptick in innovative new therapies. Many patients are unfortunately still left with few options for receiving this life-changing care, often within a crowded infusion room of a hospital – and that’s where we come in.
“We are confident that Great Hill’s investment and deep domain expertise will help us address this shortage of care options by enabling IVX to bring our unique clinical model and patient-centered amenities to an even broader universe of patients.”
Great Hill joins a list of existing investors, including Linden Structured Capital, McKesson Ventures, Health Velocity Capital, and Nueterra Capital.
Mark Taber, a managing director at Great Hill, will join IVX Health’s board of directors in connection with the investment.
“IVX Health is disrupting a distinct and rapidly growing healthcare vertical – biologic infusion and injection therapy – in unique ways that are driving tangible efficiencies for the U.S. healthcare system as a whole,” Taber said. “We are excited to play a strategic, supporting role in fueling IVX Health’s next phase of growth as it enters new markets and collaborates with other providers in the healthcare ecosystem to drive value while continuing to redefine the care experience for its patients and referring providers.”
