RICHMOND, Va.--(BUSINESS WIRE)--Blue Heron Capital, an early-stage growth equity firm, is excited to announce its investment in Redi Health, a digital health innovator poised to transform patient support services. This strategic investment is core to Blue Heron's philosophy of identifying and supporting companies that not only show potential for growth but also address pressing needs within healthcare and technology sectors experiencing meaningful transformation.
The $14M Series B funding round was led by Blue Heron Capital with participation from inside investors Refinery Ventures, Mutual Capital Partners, Rev1 Ventures, and M25. Redi Health plans to use this investment to foster innovation, develop and launch new products, further expand its patient network, and accelerate growth—effectively improving patient health outcomes by connecting Pharma, Providers, and Patients on a single platform.
Redi Health addresses the critical gap in patient support for those navigating complex, high-cost medications. Traditional Patient Support Programs (PSPs), hindered by outdated structures and inaccessibility, have contributed to a non-adherence rate of approximately 70%, leading to estimated losses of over $600 billion annually for the pharmaceutical industry. Redi Health's innovative platform offers a holistic approach to patient care, providing medication reminders, symptom management, educational resources, and real-time information exchange.
Luke Buchanan, Co-Founder and CEO of Redi Health, stated, "With Blue Heron Capital's backing, we are at a pivotal moment where we can significantly enhance patient care and outcomes. This investment validates the hard work of our team and the unwavering support of our investors, as we aim to make comprehensive care accessible to millions more across the country."
The investment in Redi Health underscores Blue Heron Capital's commitment to fostering innovation that transcends boundaries and empowers patients. Appointing Blue Heron OA Collaborative member Jim Clair to the Board of Directors reinforces this commitment, signaling confidence in Redi Health's vision and leadership team.
"Our investment in Redi is not merely a financial decision; it's an embodiment of our trust in the co-founders' vision, talent, and grit," added Gordon Crenshaw, Partner at Blue Heron Capital. "We are eager to support these entrepreneurs as they empower patients to improve their health journey."
About Redi Health
Redi Health empowers patients with chronic conditions to understand, manage, and track their total health through digital support. Their mobile and web platform, Redi Health, integrates health management technology with pharmaceutical manufacturer support, providing a seamless patient experience.
About Blue Heron Capital
Blue Heron Capital is an early-stage growth equity firm funding big ideas in healthcare and enterprise technology. Leveraging a powerful combination of financial capital and the human capital of its OA Collaborative, Blue Heron partners with companies to build businesses that make big impacts.
For additional information, please visit www.blueheroncap.com.
