NYC based telehealth Startup Ro has raised $200M in its latest Series C round of funding. With the new funds, Ro says it will continue the creation and expansion of programs offering remote patient monitoring with integrated devices for at-home testing, urgent care, and management of chronic diseases, all at affordable price points.
The three-year-old startup, which was founded by Rob Schutz, Saman Rahmanian and Zachariah Reitano, was created with the mission to streamline the patient-provider experience by providing direct consultations through their online platform.
What began primarily as a men’s health-focused service has now expanded into a second platform for women’s health called RORY. Through both platforms, the company and their network of providers now deliver consultations and prescriptions for issues ranging from dermatology and allergies to sexual and reproductive health.
More recently, the start-up launched its online pharmacy business, Ro Pharmacy, which allows users to subscribe to receive prescriptions. The company currently offers 500 generic medications for $5 per month per drug. Currently, Ro’s cash-pay online pharmacy is operational in 22 US states, with plans for expansion.
With such direct and accessible means to care, patients who are unable to see their current healthcare providers during the pandemic are now able to do so and secure the medications they may need. In the company’s statement regarding the new funding, Ro medical adviser Dr Joycelyn Elders said: “Telehealth companies like Ro are using technology to address longstanding healthcare disparities that have been exacerbated by Covid-19″
The longevity of such programs shows promise beyond the pandemic. In the United States, almost half of all Americans receive some form of health insurance through their employer. With record-breaking unemployment figures, millions of Americans remain vulnerable to losing any form of health coverage. For those who may have health insurance, skyrocketing premiums remain sizeable barriers of entry to seeking basic preventative care services. Options like Ro provide an option that is discreet, accessible, and affordable.