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

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients
Courtesy of Regard

Culver City-based health care startup Regard, which uses AI-driven software to help physicians accurately diagnose patients, has raised $15.3 million in Series A funding.

Pasadena-based Calibrate Ventures and Colorado-based Foundry Group led the investment in Regard, formerly known as HealthTensor. Other investors that participated in the round include TenOneTen Ventures, Susa Ventures, Brook Byers of Byers Capital and Dropbox CEO Drew Houston. The new funding will be used to grow Regard’s team and customer base, the company said in a press release.

Read moreShow less

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.

Read moreShow less

This LA-Based Accelerator Seeks To Foster the Next Generation of Ocean Tech Startups

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.

This LA-Based Accelerator Seeks To Foster the Next Generation of Ocean Tech Startups
Photo courtesy of the Port of Los Angeles.

San Pedro-based Braid Theory is one of the growing number of accelerators in the country looking to grow the so-called blue economy, which spans a range of ocean-related industries and is estimated at $2.5 trillion a year.

The accelerator is accepting online applications until July 18, with its second-ever program kicking off in August.

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