Seen Well being raises $22 million, hopes to take a brand new strategy to PACE
Seen Well being doesn’t wish to be simply one other senior care firm that touts its alternatives for disruption. However the brand new Program for All-Inclusive Look after the Aged (PACE) goals to modernize the mannequin, and just lately raised $22 million to do exactly that.
Seen Well being is a culturally targeted, technology-based PACE group serving the San Gabriel Valley of Los Angeles County.
Co-founders Xing and Yang Su, brothers, have backgrounds at expertise firms resembling Salesforce (NYSE: CRM) and Uber (NYSE: UBER). With this background, Xing Su hopes to align with the standard PACE mannequin whereas integrating a data-driven strategy to healthcare.
“We noticed large alternative right here to have the ability to construct an nearly tailored working system particularly designed for PACE, by way of enabling multidisciplinary supply throughout a number of care settings,” Su advised House Well being Care Information. “How can we deliver collectively information and workflows from all these totally different programs and construct one thing on high of it, in order that the groups can truly orchestrate all points of look after every particular person participant, and exactly observe and perceive what's taking place always? We expect it is a large and important a part of the infrastructure that should be in place for PACE to even scale.”
Seen Well being's advisory board contains executives from PACE organizations resembling WelbeHealth and InnovAge (Nasdaq: INNV).
“There’s a lot to study this very difficult mannequin that can also be extremely regulated,” Su stated. “We needed to guarantee that we deal with this from the very starting with the respect and intention that it truly deserves, and actually get to know the way the PACE mannequin works at present in order that we are able to then construct the appropriate expertise and might develop the appropriate expertise. enhancements to make sure we do the perfect job attainable.”
Su defined that the launch of Seen Well being was impressed by his and his brother's private experiences with their aged grandparents.
“My twin brother and I had been raised by grandparents for about 9 years of our lives,” he stated. “They’re nonetheless amongst our closest individuals and have had a major impression on who we’re and the way we grew up. As they grew older, and particularly over the previous 4 years, all three of our surviving grandparents developed many acute well being issues.”
The brothers found PACE by researching attainable care options for his or her grandparents.
With the $22 million raised by the Sequence A financing spherical – led by 8VC with participation from Foundation Set, Primetime Companions, Advantage and Astrana Well being – Seen Well being will develop its expertise and open its first middle.
“This middle is a 20,000-square-foot facility right here at Alhambra, within the San Gabriel Valley,” Su stated. “We have now employed and labored with native basic contractors to get this facility off the bottom, however we’ve additionally invested in a lot of the whole workforce we at present have, in addition to the expertise growth we’ve undergone. firm over the previous two years.”
Along with a technology-based strategy to care, Seen Well being focuses on serving the native Asian and Pacific Islander (API) group.
“We actually needed to satisfy individuals the place they’re,” Su stated. “San Gabriel Valley is among the most ethnically numerous communities within the US, however has a very excessive API inhabitants. There are a whole lot of issues we are able to do exactly by being a part of the group and offering care and companies in the way in which that present seniors perceive and respect, every little thing from language expertise, to Oriental drugs, to the meals we serve and the actions we undertake. to have. The entire level is in order that we are able to construct our facility right into a hub of exercise for native seniors and their households to allow them to truly be concerned and we are able to higher handle their well being.”
In the end, Seen Well being hopes to construct on the work the trade is already doing.
“We've been very deliberate in approaching this enterprise, and really deliberate, that means we didn't wish to are available in and say, 'Hey, let's disrupt every little thing,'” Su stated. “We got here in with a whole lot of humility and have spent the final three years diligently listening, researching, understanding and observing how different individuals throughout the trade actually function. We don't essentially see this as a zero-sum recreation…however quite, how can we be good stewards of each the mannequin and in addition herald some further parts which may have been historically ignored?”