Torch Capital and Montage Ventures Lead Funding to Accelerate Expansion of 24/7 Concierge Medical Centers Nationally
NEW YORK, Jan. 24, 2020 /PRNewswire/ -- Sollis Health (formerly Priority Private Care), New York's only 24/7 concierge medical center, is expanding from the Upper East Side to a second location in Tribeca, which opens today. The company also announced funding from Torch Capital and Montage Ventures, leading consumer-facing funds, to scale further across NY and LA.
While concierge medicine has been a growing part of the health care sector for years, the newest trend is the demand for private, stand-alone medical facilities. However, of the 141 million emergency visits a year, only 75% of them actually require ER-level care—which has led to wait times of up to five hours and highly unpleasant patient experiences.
At Sollis, patients are seen immediately by a top ER physician, day or night, with no appointment. With this new downtown option, Sollis' 2,000 members can now choose between either location (or even a house call) in order to get the fastest, most personal health care possible—whether it's a middle-of-the-night emergency, a simple complaint, or an expedited appointment with a specialist.
"We're excited to continue reinventing the health care delivery model," said Andrew Olanow, co-founder of Sollis. "This funding enables us to continue to give our patients a highly personal, streamlined experience. And by capping our membership as we grow, we ensure that our members have no wait times to see the city's best physicians—and receive a comprehensive workup at a single destination."
"We're looking to invest in health care companies and services that couldn't exist 10 or 15 years ago," said Jon Keidan, founder of Torch Capital. "Sollis has created a new, pioneering health care model for acute and emergency care. Going to urgent care can be one of the scariest moments of you or your loved one's life, but at a Sollis' medical center, patients can receive extraordinary medical care, including specialist access at a moment's notice."
Torch, based in NY, has a record of spotting high-growth health companies early in their life cycle, including Ro Health, which is valued at more than $500M. Torch also invested in Tia, the first female monthly prescription platform for primary care and OB/GYN, and ZocDoc, the digital health firm poised to IPO. Silicon Valley-based Montage Ventures is an active investor across the healthcare landscape including investments in Pager and Workit Health. Additional investors also joined the round, including Neil Parikh of Casper, Douglas Riboud of Harmless Harvest, and Charlie Chanaratsopon of Charming Charlie.
Sollis also prides itself on devoting its medical resources to support the local community by helping uninsured and underinsured people get access to health care. "These new funds help guarantee that we can continue to change not only concierge medicine but also the lives of people who can't afford it," said Ben Kruger, co-founder of Sollis.
ABOUT SOLLIS HEALTH
Sollis Health is a 24/7 members-only medical concierge service with uptown and downtown facilities designed to handle emergencies, check-ups, and everything in between—with no appointment and no wait. From the best ER physicians to an exclusive network of specialists, only Sollis can provide truly personalized care in a serene environment.
View original content to download multimedia:http://www.prnewswire.com/news-releases/sollis-health-disrupts-emergency-medicine-with-second-medical-facility-in-tribeca-300992590.html
SOURCE Sollis Health