ContinuumRX, Inc., a Birmingham, AL-based developer of joint ventures with health systems to provide home infusion and specialty pharmacy services, closed a $13.5m round of financing.
The round was led by New Spring Capital of Philadelphia with participation from existing investors. In conjunction with the funding, Chris Bodine, a venture partner with NewSpring Capital and former President of CVS Caremark, will be joining the Board of Directors along with Brian G. Murphy, General Partner at New Spring Capital.
The company intends to use the capital for expansion into new markets as well as services within existing markets.
Led by CEO Chuck Jett, ContinuumRX operates a service model that aims to allow hospitals to gain efficiencies during the discharge process by providing patients a transition from the hospital to the home setting. Today the company operates joint ventures with six major health systems operating 25 hospitals.