Presidium Health Secures $3.5M Series A Funding to Expand Physician-Led Services and Build STAT Platform

On November 19, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Presidium Health, a mobile health company headquartered in San Diego, California, had completed a $3.5 million Series A financing round. The round was led by Alethea Capital Management.

Presidium stated that it will use the new funding to expand its physician-based services and build the STAT platform; additionally, the company will utilize these funds to advance its marketing initiatives.

Presidium was founded by its CEO, Dr. Pouya Afshar, a pioneer in the field of transitional care medicine. At the core of Presidium’s services is a premier 24/7 medical triage team, supported by proprietary medical algorithms that guide the management of acute and chronic conditions. This enables patients to receive comprehensive and urgent care at home, including medication delivery, laboratory tests, and X-ray examinations.

Medical triage teams are enhanced by Presidium’s virtual healthcare platform, SecureText Activated Triage (STAT). STAT’s simple user interface provides patients with a medical alert device that enables two-way communication, transmits users’ vital signs and personal health records in real time to a HIPAA-compliant texting platform, and optimizes home healthcare services based on so-called geographic proximity.

To date, nearly 6,000 users have registered to participate in Presidium’s STAT platform, with approximately 1,500 patients currently active.

With the rise of telemedicine, companies like Heal and Landmark Health are providing house-call physician services, and an increasing amount of care is being delivered outside traditional doctor’s offices. Presidium aims to expand its business beyond the San Diego market and ultimately establish the Presidium platform as the industry’s “standard of care.” As Dr. Pouya Afshar stated, “I hope we can change patients’ habitual settings for receiving care, shifting from institutional facilities to home environments; Presidium will also become one of the pioneers driving this transition of patient care from institutions to homes.”

Alethea Capital Management is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) in March 2011. As an investment management and research firm, it offers fee-based asset management, advanced quantitative systematic research, and the development of strategic assessments and integrated plans. Alethea’s operational headquarters are located in San Diego, California.

(Compiled by Xiong Hui)