New Capital will be Used to Expand to New
Sites and Invest In Precision Medicine Platform
SAN
FRANCISCO, April 26, 2024 /PRNewswire/ -- Amae
Health, a trailblazer in delivering patient-centered care for
people with severe mental illness, announced today the successful
closing of its oversubscribed $15
million Series A funding round. The round was led by Quiet
Capital and included a significant investment from Healthier
Capital, founded by Amir Dan Rubin,
the former CEO of One Medical. Other investors in the round
included Baszucki Group, Index Ventures Managing Partner Mike
Volpi, and all of Amae Health's original seed investors - Bling
Capital, 8VC, Virtue and Able Partners. Amae Health will use the
new capital to fuel its mission to revolutionize care for severe
mental illness (SMI) through its innovative, psychiatry-led
model.
Severe mental illness is defined as a mental, behavioral, or
emotional disorder resulting in serious functional impairment,
which substantially interferes with or limits one or more major
life activities. According to the National Institute of Health,
there are an estimated 14.1 million adults aged 18 or older in
the United States with SMI, while
annual deaths by suicide and drug overdose in the United States have also increased 322%
since 2001.
Amae Health is a value-based care provider specializing in
severe mental illness, providing integrated long-term care and
delivering transformative change in the lives of those with SMI.
The company's commitment to innovation has significantly improved
patient care and outcomes, demonstrated by its rapidly expanding
customer base and strategic partnerships with leading healthcare
providers and insurers. By engaging in these value-based care
partnerships, Amae Health's innovative model not only improves
patient outcomes, but also aligns incentives and drives lasting
impact in a cost-effective manner.
Amae Health's inaugural clinic in Los
Angeles demonstrates has significantly outperformed the
general standard of care across several key metrics, including a
notable reduction of 30-day emergency room readmissions, and over
85% medication adherence compared to an industry average of 53%.
Additionally, Amae Health has an 80% retention rate, showcasing the
effectiveness of patient engagement and treatment adherence. Amae
Health's care model includes a phased approach to care, tailored to
each patient's needs, building a lifelong partnership with patients
to manage their condition.
Amae Health is also going to be working on several research
collaborations to advance the knowledge of treatment for severe
mental illness, including an upcoming study with UCLA and Apple on Digital Sensing for SMI Patients.
Amae Health is also working on a ketogenic study for the SMI
population in collaboration with the Baszucki Group to further
explore the benefits of metabolic psychiatry. Amae Health also
announced that they will leverage Palantir to develop a precision
medicine platform to advance the field of psychiatry as a
whole.
"Amae Health is working to change the paradigm of care for
people who have severe mental illness. Our psychiatry-led
approach recognizes the unique needs of our patients and provides
personalized treatment across behavioral medicine, primary care,
and social health to help our patients and families stabilize,
prosper, and prevent future adverse events," said Sonia Garcia, co-founder and Chief Product
Officer.
"The successful closing of our Series A is a major milestone and
vote of confidence from the investment and health care communities.
We are poised for significant growth and development of our data
platform to improve patient outcomes and serve as a leading model
for tailored integrated care." Garcia added.
Amae Health is deeply personal for its co-founders, Stas Sokolin and Sonia
Garcia. Sonia lost her father to suicide when she was 16 and
served as a caregiver for her brother, who battles with
schizoaffective and bipolar disorder. Both Stas' father and sister
also battle with bipolar disorder.
"Severe mental illness is a chronic condition requiring
lifelong, adaptive care. By focusing on the individual as a whole
person and addressing their long-term needs, we create lasting
change for our members. As a long-term care provider, we have built
the infrastructure to be a research organization, driving the field
of psychiatry forward. In the coming months, we will be launching
several groundbreaking research trials to further advance the
understanding and treatment of SMI," said Stas Sokolin, co-founder and CEO.
"Amae Health has developed a solution for SMI that improves
patient outcomes and experience and significantly reduces costs for
payers and hospital systems. Amae's first clinic has shown
incredible results and we're excited for the potential to scale to
hundreds of thousands of patients. We are incredibly proud to have
led the company's Series A and support this meaningful mission,"
said David Greenbaum, Partner at
Quiet Capital.
"Even as severe mental illness challenges our society, we lack
modernized approaches to coordinated care – Amae Health delivers
such a model with breakthrough performance in outcomes. I am
thrilled to be part of this extraordinary team at this critical
moment to make a transformational impact in the treatment of severe
mental illness," said Amir Dan
Rubin, CEO and Managing Partner at Healthier Capital.
Through the integration of clinical services, support services,
and a data-driven approach, Amae Health is setting a new benchmark
in SMI care, positioning itself as a leader in the field and paving
the way for scalable, effective treatment solutions in one of
healthcare's most challenging areas.
About Amae Health
Amae Health is a leading innovator in mental health care,
committed to improving the treatment and care of severe mental
illnesses through a value-based, psychiatry-led model. By
integrating comprehensive care teams and leveraging cutting-edge
technology, Amae Health aims to deliver transformational outcomes
for patients and create a new standard for mental health care.
Media Contact:
Josh Vlasto
josh@joshvlasto.com
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SOURCE Amae Health