SonarMD, a Chicago, IL-based company focused on managing complex patients, received $10m in funding.
Backers included BCBS Venture Partners and Arboretum Ventures.
The company intends to use the funds to acquire key new team members and expand into a number of other high beta specialty areas beyond inflammatory bowel disease in GI practices.
Led by Founder and CMO Larry Kosinski, MD, and CEO Devin Gross, SonarMD manages patients with conditions that have high variability in both cost and clinical outcomes. Currently deployed in patients with inflammatory bowel disease, the company contracts with payers to manage this population of patients and works with existing in-network providers.
For payers, it provides a holistic perspective on managing medical and drug costs for these patients. For providers, it provides the tools and resources needed to engage and manage patients in a value-based care model and share in the cost savings.