Medical concierge service Sollis Health today announced a $30 million Series A funding round. The New York-based startup operates its medical concierge practices in New York, Los Angeles, San Francisco, Miami and Palm Beach, providing 24/7 urgent care and medical support to members. This new funding round is led by Torch Capital and Denali Growth Partners, with supporting investment from Strand Equity, Read Capital, Juan Vallarino of HCA Healthcare and Jay Livingston of Shake Shack, among others.
Launched in New York in 2019, Sollis has since seen a revenue CAGR of 150% and has a long-run average of 90% adjusted renewal rate for members. The company currently serves more than 8,000 patients nationwide, with plans to serve more than 12,000 within the next year. Each Sollis Health facility is staffed by emergency medicine physicians, some of whom have been recruited by the country’s top hospitals, onsite lab capabilities and advanced imaging equipment. Sollis members can bypass the wait and crowds of a traditional emergency room any time of day or night for personalized services from bloodwork and X-rays to Covid tests and more.
In addition to onsite offerings, Sollis Health also offers 24/7 virtual visits as well as house calls for services ranging from medical evaluations to monoclonal antibody treatment. Should any routine check-up reveal results that require specialist follow-up, or should patients inquire about specialist recommendations, Sollis can both make recommendations to and secure priority visits for its patients as part of the concierge service.
Throughout all of its markets, Sollis Health is one of few concierge medicine practices to offer an in-home, early treatment protocol for Covid-19. Covid-positive patients who are high risk and meet Sollis’ criteria can receive monoclonal antibody therapy treatment at-home. In addition to providing optimal care, Sollis feels that treating members in their homes keeps them out of emergency rooms and urgent cares to minimize risk, further illness and the spread of Covid-19.
Each member has access to a dedicated member-concierge and what Sollis calls its patient advocacy team to help remain in optimal health and navigate the complex medical system, including securing expedited access to leading hospitals when necessary. Through this new round of funding, the organization plans to reach more patients in existing and new markets and optimize its software both for virtual visits and in-clinic care.
Co-founder of Sollis Health Andrew Olanow says, “At Sollis Health, our vision is to provide Americans with unique hospitality-infused healthcare so that they can receive expert medical care, while being treated with dignity, respect and empathy. We’re thrilled to find capital partners like Torch and Denali, who share this vision and have vast experience scaling consumer health businesses across the country.”
Sollis Health’s annual membership model ranges from $1,000-$5,000 per year depending on patient age. Members under 45 pay $3,000 for the first adult and $2,000 for each additional adults. Children’s memberships are $1,000 and those over 45 pay $5,000 for the first adult and $3,000 for the second adult. All Sollis memberships includes unlimited visits to its clinics. The co-founding team hopes that this transparent pricing model can help patients budget accordingly, instead of having to navigate the complicated world of coverage and fees associated with most medical care.