In a significant stride toward improving access to specialty care, Gem Specialty Health, (GEM HEALTH) has proudly announced the successful closure of its Seed financing round. This round was spearheaded by HealthTrend Capital, with participation from existing investor Base10 Partners and the addition of a new investor, Mairs & Power Venture Capital.
Closing the Gap in Specialty Care
GEM HEALTH is on a mission to revolutionize specialty care by simplifying complex healthcare pathways and ensuring accessibility for all. Their inaugural offering, GEM SLEEP, is a dedicated effort to address the fragmented journey faced by individuals dealing with sleep conditions like obstructive sleep apnea (OSA).
Despite the prevalence of OSA affecting thirty million Americans, a staggering five out of six individuals remain inadequately treated. Many are caught in the labyrinth of diagnosis, while others struggle to commence treatment without proper support.
Expanding Access and Affordability
With the recent infusion of funds, GEM HEALTH is poised to expand its coverage across various health plans, thereby making convenient care affordable to millions. Their flagship solution, GEM SLEEP, is a comprehensive digital platform designed for simplicity, on-demand availability, and personalized support.
This approach streamlines the path to care, reducing waiting times from weeks or months to just days, all while lowering costs for both patients and insurers. Notably, GEM HEALTH boasts an impressive retention rate, with 70% of their patients continuing treatment beyond the critical 30-day mark, compared to the national average of 40%-50%.
A Visionary Approach
Brian Sauer, Founder and CEO of GEM HEALTH, sheds light on their journey: “We started in obstructive sleep apnea because we witnessed firsthand the tradeoff many patients were making with regards to their care – trying to decide if they should go to traditional providers and wait 3-4 months for care or try an online option that does not accept insurance and may not have clinical rigor. Millions of patients just give up and continue to live with OSA.
Patients do not want to have to choose between convenient, clinically sound, and insurance-covered. They want all those things in a single experience. We are proud to say that GEM has built this model and will be rapidly scaling it with the support of our latest investment.”
A New Direction with Expertise
HealthTrend Capital’s Managing Partner, Bill Brinkman, and Sam Meckey, CEO of UpHealth (NYSE: UPH), are set to join GEM HEALTH’s Board of Directors. Bill Brinkman shares his excitement about this partnership: “I am excited to partner with GEM in its mission to improve the sleep care experience.
The company’s comprehensive approach streamlines the journey for patients navigating complex conditions, ultimately improving outcomes and reducing costs. I look forward to working with Brian and the broader GEM team to support their growth and success.”
Ready for Relief
Individuals dealing with OSA, as well as their bed partners, can now embark on their journey to relief through GEM SLEEP at www.mygemsleep.com. Health plans or employers interested in offering GEM SLEEP to their members can reach out via email to firstname.lastname@example.org.
About GEM HEALTH
GEM HEALTH is dedicated to helping people lead healthier, happier lives by addressing specialty conditions comprehensively. By removing confusion and frustration from the equation, GEM HEALTH ensures that individuals navigating new conditions know where to start and what the next steps entail.
GEM’s inaugural product, GEM SLEEP, is a guiding light for an estimated 30 million people battling obstructive sleep apnea. GEM SLEEP offers a straightforward, guided experience through diagnosis, treatment, and ongoing support, drastically reducing the time to relief from months to weeks.
GEM HEALTH secures over $5 million in Seed financing to advance its mission of simplifying specialty care. Their innovative platform, GEM SLEEP, eliminates accessibility barriers, offering personalized, on-demand support for sleep conditions like obstructive sleep apnea. With a strong retention rate, GEM HEALTH is expanding its reach across various health plans, making convenient care affordable for millions. Experienced leadership and partnerships ensure the company’s growth and success. Individuals seeking relief from sleep conditions can explore GEM SLEEP, while health plans and employers can provide this valuable resource to their members. GEM HEALTH, founded in 2022 by Brian Sauer, is committed to improving healthcare access and outcomes for all.
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