What You Should Know:
– Foundation Health, a healthcare technology company empowering clients in building and launching modern, digital-first pharmacy and telehealth solutions at scale secures $6M in seed funding.
– The seed round included participation from Garry Tan (CEO, Y Combinator), Transpose Platform, Tuesday VC, and prominent venture capital firms like Alt Capital, Box Group, and Liquid Ventures. Additionally, angel investors Paul Johnson (Lemonaid) and Meghan Fitzgerald (Grey Ghost Advisors) lend their expertise and support.
Empowering Innovation at Scale:
Foundation Health’s platform empowers healthcare organizations to develop and launch modern, digital-first pharmacy and telehealth solutions quickly and efficiently. This is achieved through:
- Easy-to-integrate APIs: Streamline connections with telehealth providers and a vast pharmacy network, facilitating services like prescription mail orders, same-day delivery, and specialty medications.
- White-label products: Enable health plans, pharmaceutical manufacturers, and digital health brands to launch custom-branded solutions without the hassle of building from scratch.
Foundation Health’s Core Offerings include:
- Telehealth Prescribing & Pharmacy APIs: Connect businesses to telehealth providers and pharmacies, catering to a wide range of needs from prescription fulfillment to durable medical equipment.
- Virtual Pharmacy SaaS: This software-as-a-service product allows any company to launch their own virtual pharmacy, complete with 24/7 pharmacist support, transparent pricing, and optional telehealth consultations.
- Virtual Direct-to-Patient (DTP) Service: Pharmaceutical manufacturers can leverage this solution to launch products directly to patients, removing middlemen, controlling pricing, and ensuring a seamless patient experience.
While Foundation Health operates across the US, UK, and EU, its initial focus is on driving innovation within the US healthcare landscape.
“Our vision is to grow Foundation Health into the definitive tech platform for powering and managing complex consumer healthcare operations globally,” said Foundation Health founder and CEO, Umar Afridi. “With this funding, we are equipped to accelerate product development, onboard customers currently on our waitlist, and continue engaging with new customers to ensure we’re delivering precisely what the market needs. We are thrilled by the initial demand for our products and anticipate reaching profitability in approximately 18 months. Patients want clear pricing, lower costs, and convenient access to healthcare. These are not outrageous demands, yet solutions that meet them are few and far between,” said Afridi. “At Foundation Health, we believe traditional multi-month, multi-million dollar builds are the enemy of innovation and progress. We’re focused on providing affordable solutions that are intentionally built for speed and scale. Our services can be implemented within days, offering unparalleled speed-to-market for our clients at substantially lower costs than alternatives.”