First Stop Health provides virtual access to urgent care, primary care, and mental health providers to employer-sponsored populations for a per-employee-per-month fee with no cost to patients. The company works with more than 700 employers, selling via a nationwide network of employee benefit brokers and consultants. Led by CEO Teira Gunlock and founded by Patrick Spain and Dr. Mark Friedman, FSH focuses on reducing employer healthcare costs while offering convenient care options. The company is based in Chicago, Illinois, and positions its product as a turnkey virtual care solution for mid-size and enterprise employers. Following the recent investment, FSH intends to use the funds to expand operations and broaden its business reach. The article does not disclose revenue or other financial metrics. First Stop Health provides virtual healthcare services for the employer marketplace, including telemedicine and care navigation via phone, online video, and iPhone and Android apps. The company offers convenient access to U.S.-based doctors and care navigation consultants in all 50 states and the District of Columbia. It reports the highest telemedicine utilization rate in the industry and places fees at risk to drive value-based virtual care. First Stop Health cites rapid annual revenue growth and plans to use new capital to accelerate that growth and further transform the patient healthcare experience. The product emphasizes a simplified member experience with fast access to care and streamlined intake to increase use. First Stop Health provides telemedicine services purchased by employers for employees and their dependent family members, offering 24/7/365 access via phone, online video, and mobile apps. Members connect with U.S.-based physicians licensed in all 50 states and the District of Columbia for medical advice, diagnosis, treatment, and prescriptions when medically necessary. The company offers a contractual guarantee that the cost of its service will not exceed the direct healthcare cost savings realized for clients. First Stop Health targets a largely self-insured mid-market client base and says its service drives high utilization and associated cost savings as employees substitute telemedicine for higher-cost in-person visits. The company announced $650,000 in additional financing via a convertible note provided by existing shareholders and led by co-founders Patrick Spain (CEO) and Dr. Mark Friedman (CMO). First Stop Health has raised a total of $7.85 million in equity and says the new capital will support continued three-digit percentage growth in top-line revenues. First Stop Health, based in Chicago, raised $1.6M in funding. The round was led by CEO Patrick Spain and Chief Medical Officer Dr. Mark Friedman, with participation from about a dozen longtime individual and family-office investors and a new group of investors. The company has now raised $7.2M in total capital to date. Management includes Spain, Friedman, President David Guttman and COO Maria Opdycke. First Stop Health offers 24/7/365 phone and online access to a U.S.-based national physician network that provides advice, diagnosis, treatment and prescriptions to employees through their employers. It also helps manage and reduce major medical claims. The company intends to use the funds to expand strategically into adjacent telehealth services and to increase its sales and technology capacity. First Stop Health is a Chicago-based telemedicine and advocacy provider co-founded by CEO Patrick Spain and Dr. Mark Friedman. The company offers immediate phone and online access to a U.S.-based national physician network that provides advice, diagnosis, treatment and prescriptions when necessary. It sells services to employers for their employees, operating 24/7/365. The company is using recent funding to enhance its physician network, expand sales and marketing efforts, and build technology enhancements for physician, client and member platforms. As of this round the company had raised $5.6m in total financing.

Total raised

$13M

Funding rounds

6

Latest round

Equity

Latest activity

Jan 2019