Limber Health Closes Series A Funding Round Led by Blue Venture Fund

The $11 million investment will advance the company's hybrid musculoskeletal care platform

WASHINGTON, Oct. 20, 2022 /PRNewswire/ -- Limber Health, Inc., a leader in merging in-clinic and digital musculoskeletal care, has today announced the closing of an oversubscribed $11 million Series A investment.

The round was led by Blue Venture Fund, a unique collaboration among thirty-four Blue Cross and Blue Shield (BCBS) plans and special purpose licensees, the Blue Cross Blue Shield Association (BCBSA) and Sandbox, with participation from Glenview Capital. In connection with the financing, Dr. Emir Sandhu, Managing Director at Blue Venture Fund, and Ankit Chadha, Principal at Glenview Capital, have joined Limber Health's Board of Directors.

Founded in 2019, Limber partners with provider groups to offer a unique, hybrid in-person and digital approach to musculoskeletal (MSK) care through its digital home exercise therapy, remote therapeutic monitoring (RTM), data analytics, and care navigation platform. With more than half of US adults suffering from MSK pain every year, Limber works with providers, payers, and employers to deliver patient-centered digital care solutions, improving access and adherence to evidence-based MSK care.

"Limber Health is proud to announce our Series A with the world-renowned healthcare investment teams at Blue Venture Fund and Glenview Capital," said Michael Gruner, Co-Founder and Chief Executive Officer at Limber Health. "As MSK continues to be a leading cost driver in healthcare, we see a gap in the market for solutions driving real impact on reducing unnecessary costs. Both digital and in-clinic services are fundamental to maximize impact on patient outcomes and total episode costs, and we are focused on building the leading platform for delivery of hybrid MSK care. With the financing, we look forward to further enhancing our platform and growing our provider and payer partnerships."

Unlike other digital MSK solutions, Limber focuses on partnering with provider groups, empowering in-clinic providers to deliver a hybrid approach to care. Limber has also developed innovative value-based care models in close partnership with providers and payers.

"MSK continues to be a top focus area for payers and we are excited to partner with Limber Health to address one of the most important problems in healthcare," said Dr. Emir Sandhu. "We have strong conviction in Limber's innovative hybrid care model, which has demonstrated exceptional outcomes, and the team has built a robust network of provider partnerships nationwide."

Limber will use the new financing to continue to expand and innovate its musculoskeletal platform and services.

Limber is building the world's leading hybrid model of in-person and digital musculoskeletal (MSK) care. Developed by physicians and physical therapists, Limber enables providers with a complete digital toolkit for remote therapeutic monitoring and the shift to value-based MSK health care. Clinically validated through research conducted at Mayo Clinic and awarded Most Impactful New Technology by the American Congress of Rehabilitation Medicine, Limber empowers providers in augmenting in-person clinician visits with digital at-home support to best meet patients where they are. To learn more, visit www.limberhealth.com

Blue Venture Fund is a unique collaboration among Blue Cross and Blue Shield (BCBS) companies, Blue Cross Blue Shield Association, an association of BCBS companies, and Sandbox, to which thirty-four BCBS plans and special purpose licensees have committed over $890 million across four funds. Blue Venture Fund invests in promising emerging companies of strategic relevance to BCBS companies and provides its portfolio with access to BCBS companies to deploy innovation at scale. Sandbox is an independent company that provides healthcare-related investment management exclusively for the Blue Venture Fund. For more information, visit www.blueventurefund.com

Glenview Capital Management ("Glenview Capital") is a New York based privately held investment management firm founded in 2000 by Larry Robbins. Throughout its 20+ year history, Glenview Capital has invested in public and private companies across several sectors, including a focus on healthcare. Glenview Capital partners closely with management teams and Boards of portfolio companies to drive long term value creation.

SOURCE Limber Health