WOONSOCKET – CVS Health Ventures will invest $100 million in a digital primary and urgent care platform created by California-based Carbon Health.
Carbon Health, which is headquartered in San Francisco and operates in 13 states, announced the investment on Jan. 9, adding that the funding will contribute to the closing of its series D fundraising round.
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The announcement comes days after Carbon Health CEO Eren Bali announced on Twitter that the company is laying off more than 200 employees as it moves away from “major initiatives like public health, RPM, hardware (and) chronic care programs to focus on our core primary care and urgent care service.”
The investment from CVS Health’s corporate venture capital platform will go toward Carbon Health’s Connective Care software, which collects and integrates data to support in-person and virtual health visits.
The software allows patients to log symptoms, share information between providers and track how food and activity choices correlate with their health.
Vijay Patel, managing partner and co-founder of CVS Health Ventures, said in a statement that the investment “is another important step toward our vision of becoming the leading health solutions company for consumers.
“This pilot will allow us to explore Carbon Health’s potential to advance the retail health experience, connecting consumers to care where and when they need it with a simple and engaging user-driven experience that can be adapted and delivered across our platform,” he continued.
The company does not currently have any locations in Rhode Island, with the nearest being in Massachusetts in Dedham, Framingham and Boston.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
