AI care co K Health raises $50m at $900m valuation

AI healthcare startup K healthIsraeli pharmaceutical company Royalty Pharma, founded in Israel and operating out of Israel and the United States, announced the completion of a $50 million funding round led by Clore Group, with participation from investors including Pablo Legorreta (founder and CEO of Royalty Pharma), and existing investors Mangrove Capital Partners, Valor Equity Partners, and Atreides Management, LP.

This latest funding round is valued at about $900 million, Bloomberg reports, citing people familiar with the matter, and comes exactly one year after Key Health raised $59 million. Key Health was founded in 2016 by CEOs Alon Bloch, Ran Shaul and Israel Roth, along with Tabula CEO Adam Singolda.

“K Health solves the need to make primary care visits highly personalized by giving physicians AI superpowers that enable them to practice at the highest level of licensure,” said Bloch. “Our primary care platform provides a personalized medical experience, with a dedicated provider and 24/7 access to care. When partnered with leading health systems like Cedars-Sinai, this model creates significant benefits in access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to private medicine services that typically cost thousands of dollars.”

K Health has developed a peer-reviewed clinical AI system for primary care. K Assistant transforms the primary care visit. Instead of physicians conducting lengthy patient investigations and manually compiling medical histories from electronic medical records, K Assistant’s clinical AI guides patients through a personal conversation, bases the assessment in the relevant electronic medical records, and delivers the ideal medical chart with patient insights to providers so they can make individualized diagnoses and treatments. This frees up providers to connect with their patients, exercise clinical judgment, and develop a comprehensive follow-up care program. The company says this new model of care delivery using K Assistant achieves higher quality care at lower costs than traditional primary care.

This article was published in Globes, Israeli Business News – en.globes.co.il – on July 3, 2024.

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