Ro, one of the popular New York-based patient-driven telehealth organization, ideates to invest in its vertically-incorporated environment, including the national pharmacy operating framework and Collaborative Care Center.
Since its formation in 2017, the startup has raised more than $376 million in four different funding rounds. The company has recently announced its latest Series C round, where it received $200 million in funding from TQ Ventures, General Catalyst, BoxGroup, TCG, Torch Capital, 3L Capital, Initialized Capital FirstMark, and SignalFire.
Zachariah Reitano, Co-Founder and CEO of Ro, shares in the press release, “Every single person deserve high-quality, affordable healthcare. At Ro, we believe the only way to do this is by putting patients at the center of their care and building technology to empower providers to do what they do best — help people. This new investment will further our mission to become every patient’s first call. We will continue to invest in our vertically-integrated healthcare ecosystem, from our Collaborative Care Center to our national pharmacy operating system. This is just the beginning of Ro’s patient-centered healthcare platform.”
The startup revealed that it would use this received fund to enhance its technology portfolio, such as providing remote patient monitoring from cohesive tools and twin the size of its engineering team.
Dr. Joycelyn Elders, MD and Ro Medical Advisor, says, “Telehealth companies like Ro are using technology to address long-standing healthcare disparities that have been exacerbated by Covid-19. By empowering providers to leverage their skills as efficiently and effectively as possible, Ro delivers affordable, high-quality care regardless of a patient’s location, insurance status, or physical access to physicians and pharmacies.”
Ro, the three-year-old company, operates three digital health clinics—Rory for women, Roman for men, and Zero for addiction treatment such as stopping smoking. The firm also works on an online, cash-pay pharmacy as well as a weight controlling aid. It has a different network of pharmacies for both home delivery and prescriptions.
The company has witnessed massive growth across all these services, even in the light of the COVID-19 outbreak. During the pandemic, it has successfully accelerated the launch of Ro Pharmacy, one of the prominent and valuable online mail-order pharmacy that is said to deliver 500 of the most prevalent medications for just $5 per month.
Alongside 98% of essential care deserts, the company has persistently encouraged past 5 million online healthcare visits in pretty much every province in the United States.
“Every single person deserves high-quality, affordable healthcare. At Ro, we believe the only way to do this is by putting patients at the center of their care and building technology to empower providers to do what they do best—help people,” Reitano says in a statement.
He adds, “This new investment will further our mission to become every patient’s first call. We’ll continue to invest in our vertically-integrated healthcare ecosystem, from our Collaborative Care Center to our national pharmacy operating system. This is just the beginning of Ro’s patient-centered healthcare platform.”
