CEO talks ‘long game’ for invisible virtual care infrastructure business – Healthcare Blog
Via JESSICA DaMASSA, WTF Health
Wheel’s CEO Michelle Davey said the white-label virtual care startup’s $150 million Series C round — led by well-known medtech giants Lightspeed Venture Partners and Tiger Global — “is really a long-term game”. We get into the details of this purposeful funding round and what it means for Wheel’s future, as well as a side-by-side analysis of what’s happened over the past 9 months as the company closed a $50 million Series B round. (FYI: Wheel’s total funding to date is $216 million.)
Wheel is currently running behind-the-scenes work for an undisclosed list of branded clients, delivering 1.6 million virtual visits a year to digital health companies, digital pharmacies, retailers and even traditional healthcare providers. With that number expected to triple by the end of 2022, we’ll explore what’s driving this growth and whether Michelle believes this institutional push for online care will continue as the pandemic subsides and the world continues to reopen. go down.
With this new funding, how will the three-year-old Wheel continue to differentiate its offerings from traditional telehealth infrastructure providers like Amwell and Teladoc? How will it overcome their traditional relationships with traditional healthcare providers? Or is Wheel betting on the continued expansion of what Michelle calls “next-generation healthcare”? Wheel has recently added a lot of technology to their infrastructure, offering asynchronous options, better clinician matching, more triage and navigation, and, with this funding, is now talking about adding “diagnostic services” to complement them service line. What, are we talking about business model evolution here? Tune in and find out what this secretive startup is up to!