Telehealth Startup SteadyMD Acquires BlocHealth to Expand US Reach

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Telehealth Startup SteadyMD Acquires BlocHealth to Expand US Reach
Courtesy of SteadyMD

SteadyMD, a Westlake Village-based telehealth startup, has acquired health care credentialing platform BlocHealth, it announced on Tuesday. The deal makes SteadyMD the first telehealth platform to offer both clinicians in all 50 states as well as licensing and credentialing services for those health care providers, according to the company.


“We can so much more efficiently handle broadly the demand in telehealth when our clinicians are licensed in a lot of states,” SteadyMD co-founder and Chief Operating Officer Yarone Goren told dot.LA. “That was really the rationale for the deal.”

Financial terms of the transaction were not disclosed. Both companies will continue to operate under their existing names.

Founded in 2016 by Goren and CEO Guy Friedman, SteadyMD says it has raised $35 million to date, including a $25 million Series B round led by Lux Capital last year. The startup has looked to tackle an ongoing primary care physician shortage by making it easier for patients to access out-of-state doctors whose expertise is matched to their health and lifestyle. The company has since grown to expand its business-to-business (B2B) offerings, allowing it to provide other telehealth ventures with infrastructure and streamlining the licensing process for customers like Lemonaid Health, the San Francisco-based telehealth startup acquired by 23andMe in November.

Telehealth—once a niche product dedicated mostly to online therapy—has expanded to nearly every facet of health since the pandemic. But as most clinicians are required to be licensed and follow guidelines in the state where a patient sought treatment, platforms like Florida-based BlocHealth allow physicians, nurses and therapists to apply for licenses across different states—letting them access patients across state lines, including in areas that may have a clinician shortage.

“In a sense, we're creating capacity by bringing clinicians online and then by getting them licensed in more states,” Goren said. “I think we're creating a lot of efficiencies. The primary care shortage is not overstated, but it usually relates to in-person visits.”

With more health care providers and patients embracing telehealth, investment has poured into the rapidly growing sector—not only on the point-of-care side, but on the B2B side, as well. Tech giants like Google have ramped up their health care cloud offerings to make telehealth platforms more secure, while startups that help clinicians transition to the telehealth model have lured millions in investment dollars.

Subscribe to our newsletter to catch every headline.

Cadence

Activision Buys Game Studio Proletariat To Expand ‘World of Warcraft’ Staff

Samson Amore

Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him

Xbox\u2019s various game developers it now owns: Activision, Blizzard and King.
Courtesy of Activision Blizzard

Activision Blizzard intends to acquire Proletariat, a Boston-based game studio that developed the wizard-themed battle royale game “Spellbreak.”

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la

Bling Capital’s Kyle Lui On How Small Funds Can Better Support Young Founders

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Bling Capital’s Kyle Lui On How Small Funds Can Better Support Young Founders

On this episode of the LA Venture podcast, Bling Capital’s Kyle Lui talks about why he moved earlier stage in his investing and how investors can best support founders.

Lui joined his friend—and first angel investor—Ben Ling as a general partner at Bling Capital, which focuses on pre-seed and seed-stage funding rounds. The desire to work in earlier funding stages alongside someone he knew well drew him away from his role as a partner at multi-billion-dollar venture firm DCM, where he was part of the team that invested in Musical.ly, now known as TikTok.

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending