AxialHealthcare, a care optimization company that deals with substance use issues for patients, providers, and health plans, announced today that it has closed $15 million in equity financing to accelerate its expansion into the substance use disorder (SUD) treatment and recovery sector, led by previous institutional investors Oak HC/FT. 406 Ventures, BlueCross BlueShield Venture Partners (BCBSVP) and Sandbox Advantage Fund; The company also announced the launch of a new modernized brand identity that reflects the expanded scope of the company, both of which are designed to meet the needs of patients, providers and health plans during the evolving opioid overdose epidemic.
“While early prevention and risk mitigation efforts will continue to be critical, it is becoming increasingly apparent that addressing the next phase of the opioid epidemic and SUD in general requires a greater focus on treatment and recovery,” said Carter Paine, Chief Executive Officer at axialHealthcare. “This funding will support the launch on the market of an end-to-end platform that offers customized solutions from risk to recovery, with a new emphasis on connecting and aligning what is a fractured ecosystem for recovery. In collaboration with our client partners, we are dedicated to finding a better way to support patients and families struggling with SUD complexities. “That’s right.
The opioid epidemic in the United States is changing. Although opioid over-prescription has decreased, drug overdoses and hospital admissions have increased while access to quality treatment remains inadequate, as evidenced by 80% of people with SUD who do not receive any type of treatment. In order to address this shift, the company has expanded its scope from the use of proprietary risk prevention and mitigation analytics for patients with elevated opioid or polydrug safety concerns to also include treatment conversion and adherence for patients with SUD problems.
New treatment and recovery focus on high-tech and high-touch couples, creating a more hands-on approach to full-patient care that enables recovery. When patients in need of treatment are identified, axialHealthcare’s clinical team assesses individual patient needs, connects them to appropriate treatment, and provides peer recovery support specialists to guide them throughout their journey towards sustained recovery. To assist overburdened providers, peer recovery specialists engage patients on a consistent and long-term basis to foster progress in the care plan and connect with community and social resources, all of which support sustained recovery.
In order to represent its new service-based approach to improving patient care, the company has also launched a modernized visual identity conveying expertise and sympathy, including a new logo and website.
“With more than 19 million Americans suffering from SUD, there is a dire need for a comprehensive solution that can address the changing epidemic that our country is facing, and the axial health care team is uniquely positioned to be the solution,” said Nancy Brown, Oak HC/FT General Partner and long-standing member of the Axial Healthcare Board. “AxialHealthcare has been a leader in the prevention landscape and its new expansion into treatment offers clients an end-to-end solution that improves patient outcomes no matter where they are on the substance use spectrum. “That’s right.
AxialHealthcare connects patients, providers and health plans to an end-to-end platform that covers the entire spectrum of substance use. Leveraging services based on analytics, our recovery risk platform identifies at-risk patients, prevents their condition from escalating, and encourages appropriate treatment enrolment and adherence. This high-tech, high-touch approach delivers measurable clinical and financial outcomes by effectively managing the cost of care while supporting sustained recovery for patients with substance use disorders. Visit www for more information. Axial Healthcare Services Come on,
About the HC/FT Oak
Founded in 2014, Oak HC/FT is the leading venture growth equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $1 of it With 9 billion assets under management, we focus on driving transformation in these industries by providing strategic advice, board participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is based in Greenwich, CT, with offices in Boston and San Francisco.
BlueCross BlueShield Venture Partners
BlueCross BlueShield Venture Partners (BCBSVP) is a corporate venture fund program to which thirty-three BCBS entities have committed over $575 million over three Funds. BCBSVP invests in promising emerging companies of strategic relevance to Blue Cross and/or Blue Shield companies and provides access to its portfolio in order to deploy innovation on a scale. BlueCross BlueShield Venture Partners is sponsored by the Blue Cross and Blue Shield Association, an association of Blue Cross and Blue Shield independent companies. Visit www for more information. bccbsvp Come on,
Around 406 Ventures
406 Ventures is a Boston-based early-stage venture capital firm that invests in healthcare and enterprise technology companies founded by visionary entrepreneurs. 406 Ventures was founded in 2006 and has over $1B in management across six funds. The firm leads, or co-leads, the first institutional investment rounds in market-changing firms. 406 Ventures Healthcare focuses on systems, technologies and services that improve clinical delivery, with investments in companies such as Abacus Insights, AbleTo, axialHealthcare, Iora Health, Nomad, Redox and WelbeHealth. Learn more about 406 adventures Come and here,
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