b.well Connected Health Secures $40M to Power The Connected Health Ecosystem

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Feb 26, 2024, 09:00 ET

Company Also Welcomes Samsung Head of Digital Health to Board of Directors in Funding Round to Accelerate Growth

BALTIMORE, Feb. 26, 2024 /PRNewswire/ -- b.well Connected Health, the company powering platform-enabled healthcare ecosystems, today announced the closure of a $40 million Series C growth round led by Leavitt Equity Partners. Andrew Clark, Managing Partner at Leavitt Equity Partners joins the b.well board of directors. Ryan Howells, Principal at Leavitt Partners and Executive Director of the CARIN Alliance, a bipartisan, multi-sector collaborative dedicated to advancing consumer-directed exchange of health information, has joined the b.well board as an independent director. b.well also welcomed to its board Hon Pak, MD, Head of Digital Health at Samsung, who has played a key role in the companies' combined efforts to unify consumer health data, solutions, and services for millions of consumers.

The successful Series C round builds additional momentum around b.well's mission to solve healthcare's fragmentation problem. Healthcare organizations use b.well's scalable, FHIR-based platform to put consumers at the heart of every interaction, derive more value from their technology investments, and surface their services as part of a growing number of digital healthcare ecosystems.

"It's going to take all kinds of companies coming together to meet the needs of today's digital consumer and move healthcare toward value," said Michael Leavitt, founder of Leavitt Equity Partners and former United States Secretary of Health and Human Services. "b.well has successfully shown its technology and leadership are best equipped to make that reality and we are incredibly proud to support their mission."

The new capital raise follows a series of moves that demonstrate b.well is a driving force for more transparent and shoppable consumer healthcare experiences. Last quarter, b.well unveiled its integration with Samsung, which aims to give millions of Galaxy smartphone users control over their longitudinal health records, as well as proactive, personalized health insights, and easy access to care from a growing network of providers, including Walgreens, Northwell Health, Lee Health, ThedaCare and more.

b.well also recently introduced an IAL2-certified, federated identity solution in partnership with CLEAR to enhance security and simplify access to health data for consumers and their families. This move was a leap toward alleviating "portal-itis," a friction point for consumers to access their information. "b.well's unique approach of using open standards with a consumer's own digital identity credential will enable more consumers frictionless access to their health data across systems," said Ryan Howells, Principal at Leavitt Partners and Executive Director, CARIN Alliance. "It's something we've advocated for in the CARIN Alliance and I'm so excited to make this dream a reality with Kristen and her team."

"b.well is rearchitecting the backend of healthcare, empowering organizations to build connected ecosystems of care and compete in a market where value is increasingly defined by choice, transparency, and shoppability," said Kristen Valdes, CEO and Founder of b.well Connected Health. "The support from Leavitt Equity Partners and expertise of Dr. Pak will help us scale personalized, easy-to-access healthcare experiences to more people and their families."

"With over 50,000 consumer-generated data connections, b.well provides unparalleled connectivity across healthcare providers, payers, labs, and devices — and unmatched personalization to consumers," said Hon Pak, MD, Head of Digital Health at Samsung. "I'm honored to join b.well's board of directors and support their efforts to give consumers the kinds of healthcare experiences they need and deserve."

About b.well Connected Health

b.well Connected Health is on a mission to solve healthcare's fragmentation problem. b.well's scalable, FHIR-based platform unifies all healthcare data, solutions, and services in one place — empowering healthcare organizations to offer experiences where consumers can create longitudinal health records, receive proactive health insights, and conveniently shop and access care for themselves and their loved ones. Our white-labeled solution integrates within existing digital systems, enhancing technology investments and ensuring consumers are the heart of every interaction. Learn more at icanbwell.com.

SOURCE b.well Connected Health