Sollis Health Completes $33 Million Series B Funding Round Led by Foresite Capital to Support Growing Demand for Personalized, High-Touch Healthcare

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Dec 05, 2024, 09:00 ET

Funding will be used to fuel nationwide expansion, product innovation and member experience, beginning with new clinic locations in Silicon Valley, Miami, and Texas

NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Sollis Health, the first concierge medicine provider to offer its members 24/7 access to ER-level diagnostics and capabilities, today announced the completion of a $33 million Series B funding round, led by Foresite Capital with participation from Torch Capital, Montage Ventures, Friedom Partners, Read Capital, and One Eight Capital, among others. This new investment will accelerate Sollis Health's mission to provide unparalleled personalized care through product and service innovations, while expanding access to new markets to meet increasing demand across the U.S.

As the first and only urgent and emergency concierge care provider, Sollis Health offers an innovative membership model that eliminates wait times and the complexities often associated with conventional healthcare. The company currently has state-of-the-art centers in New York, the Hamptons, Los Angeles, San Francisco, and South Florida.

Since Sollis raised its Series A round in 2021, the company has grown its membership by over 3x and is now in a unique position to expand its portfolio of services to meet the needs of new and existing customer segments in even more markets. This funding will be used to scale operations nationwide to meet this growing demand for 24/7 concierge partnership towards the resolution of any urgent or emergency issue.

"Sollis has demonstrated an unwavering commitment to delivering high-quality, empathic care for their members at a time when so much of our industry lacks that personalized approach," said Stephen Peterson, Partner at Foresite Capital. "This investment reflects our confidence in their vision and our belief in the potential for Sollis to drive meaningful change in how people of all ages experience care."

"We are thrilled to welcome Foresite Capital to our board," said Brad Olson, CEO of Sollis Health. "This investment will allow us to accelerate expansion and to offer new, innovative services to our members, providing the immediate, seamless, and personalized care they deserve – 24 hours a day, 365 days a year – for any issue that feels urgent to them."

Funding from this round of investment will help Sollis Health continue to innovate on its core offering after earlier this year rolling out a Family membership tier nationwide and a Family+ membership in Los Angeles (which includes concierge pediatrics alongside the core urgent and emergency care offering). This investment will also allow Sollis to build proprietary technology that enhances its high touch member experience, as well as expand its footprint – with a new flagship in Texas, as well as new centers in Miami and Silicon Valley – and to further cement its position as the premier destination for on-demand medical care.

To learn more about Sollis Health and its membership tiers, visit www.sollishealth.com.

About Sollis Health:
Sollis Health is the only medical membership on-demand 24/7, 365. Having a Sollis membership is like having a doctor in the family: we strive to be your first call and greatest partner through any medical concern.

We work to expedite your path to treatment with unlimited access to our world-class ER-trained physicians and leading specialists, plus onsite advanced imaging and diagnostic capability (on par with a hospital ER). We have centers in New York, the Hamptons, Los Angeles, San Francisco, and South Florida, and are on-demand 24/7, 365 days a year for in-person and telehealth appointments: that's anytime, anywhere – because when you're not feeling well, it's an emergency for us.

Sollis' clinical practice is guided by the expertise of our National Medical Director, Dr. Scott Braunstein, who has over 20 years of experience leading Internal and Emergency Medicine at Cedars Sinai and UCLA, respectively. Dr. Braunstein was formerly the Airway Management Physician for the LA Rams, and has contributed to countless publications on the practice of Emergency Medicine. Each Sollis region also has a supporting regional medical director, including Dr. Erick Eiting, MD, MPH, MMM, in New York, who just recently joined Sollis Health from his post as a Professor of Emergency Medicine and Vice Chair of Operations for Emergency Medicine at Mount Sinai Downtown, which includes the Emergency Department at Mount Sinai Beth Israel and the Urgent Care Center at Mount Sinai Union Square in New York City.

About Foresite Capital:
Foresite Capital is a multi-stage healthcare and life sciences investment firm with more than $3.5 billion in assets under management. The firm aims to address areas of unmet medical need by funding promising healthcare and life sciences businesses at all stages of their life cycles. Founded in 2011, Foresite Capital is based in the San Francisco Bay Area, Los Angeles, and New York City. For more information, please visit www.foresitecapital.com.

Press Contact:

Kathryn White, [email protected]

SOURCE Sollis Health