Advantia Health Secures $45 Million in New Funding to Expand Women's Healthcare Services and Files IPO Prospectus

On January 8, 2020, VCBeat (WeChat ID: vcbeat) learned from foreign media that Advantia Health, a national women’s healthcare services company in the United States, had completed a new round of financing amounting to $45 million. The investor in this round was BlueMountain Capital Management, a U.S.-based private investment firm.

As part of the financing, Jim Pieri, BlueMountain’s Head of Private Healthcare, and Ameya Agge, Managing Director, will join Advantia’s board of directors.

Advantia Health is a comprehensive healthcare services company founded in 2014 and headquartered in Washington, D.C., dedicated to helping women manage their personal health and the health of their families.

Advantia has established a comprehensive healthcare service network that delivers exceptional care through collaboration among care teams and top-tier physicians. The company states that it makes connecting with doctors and scheduling appointments as easy as sending a text message. Patients can readily contact their physicians and book appointments, while enjoying a user-friendly experience that allows them to record information directly on any device they use, ensuring real-time updates of their records. Furthermore, Advantia provides telemedicine services and continuously enhances its obstetrics and gynecology (OB-GYN) practices, committed to developing better ways to meet patients’ healthcare needs.

This round of funding comes after a year of rapid growth for Advantia, which included the acquisitions of Heartland Women's Healthcare in the U.S. Midwest and Pacify, a telehealth application that provides new mothers with 24/7 on-demand services.

Upon completion of this funding round, Advantia plans to utilize the proceeds to further develop its technical services, recruit more vendors across China, focus more on women-centric specialized services to enhance its influence, execute additional acquisition plans, and provide financial support for its flagship women’s health center in Washington.

Currently, the company operates 60 service locations, provides direct care to more than 200 providers, and serves over 430,000 patients through its obstetrics and gynecology and care coordination specialist offices.

To date, Advantia has completed three rounds of financing. The previous two rounds were closed on February 9, 2015, and January 8, 2016, respectively. The investors in the 2016 round were Deerfield and Lifeforce Capital. The 2015 round raised $1.6 million, with other specific details undisclosed.

BlueMountain Capital Management is a private investment firm headquartered in New York, USA, with an office in London, UK. Founded in 2003, BlueMountain Capital Management is a diversified alternative asset management company encompassing three integrated investment capabilities: credit, global markets, and private investments. With over a decade of investment experience, the firm manages more than $15 billion in assets.

(Compiled by Yang Xiaohui)