Lark Health today announced it has closed a $15 million venture debt credit facility

Lark Health announced today that it has closed a $15 million risk debt facility with Trinity capital and bridge bank.

lark health manages nearly 2 million patients on its platform, and Lark will use the funds to further expand its relationship with commercial payment institutions and telemedicine providers for chronic disease prevention and management. Lark, for example, will expand its relationship with anthem's affiliated health program to drive digital guidance through the health program's mobile app. In addition, lark is now the preferred provider of diabetes prevention programs for these anthem affiliated health programs. The lark's DPP has received the highest level of clinical approval from the Centers for Disease Control and Prevention - full recognition.

"anthem's affiliate health program is committed to building a digital first experience, providing innovative products and services, and focusing on improving consumer health and well-being," Rajeev, chief digital officer, anthem Ronanki said lark's use of dialogic AI to extend personalized, evidence-based and participatory health services can help achieve the same health outcomes as face-to-face interaction based programs. "

lark's program provides members with unlimited, round the clock, real-time personal counseling services in an easy-to-use, SMS like way. Powered by converse A.I., the platform seamlessly provides consulting services for diabetes, cardiovascular disease, pre diabetes, smoking cessation, stress, anxiety and weight management. It also integrates intelligent connected devices such as blood pressure meter, scale and blood glucose meter, which are synchronized with the program to help remote monitoring of the situation. In case of emergency or complex problems (such as the need to change drugs), lark will interact with members in real time through the phone, or provide suggestions for the next step.

"lark combines proven clinical outcomes with superior capabilities to enable people to manage a wide range of health conditions comfortably and effectively" the safety and privacy of their homes, "said zebediah rice, co-founder and partner of King River capital, saying lark's scalable platform enables more people to access affordable on-demand care."

"there is a clear need for virtual care solutions using artificial intelligence technology to help extend high touch, frequent and personalized care to millions of people. Lark's cognitive behavioral therapy framework and ability to integrate with existing health monitoring and clinical programs make it particularly suited to meet this time of healthcare, which has also led to an amazing momentum for national and regional health programs, "said Ryan Biggs of Franklin Templeton, head of the Franklin venture partners team.

through the use of artificial intelligence, lark is able to expand personalized care at a significantly lower cost than other chronic disease management services (relying entirely on the phone or personally participating in coaching interactions), while maintaining similar clinical outcomes across the disease spectrum. Recently:

a study published in Lark for diabetes in 2019 found that members' A1C levels dropped significantly by 1.1 points just four months later. According to a study in the Journal of management and nursing pharmacy, a 1-point reduction in A1C results in a 43% reduction in the incidence of diabetes related complications. A study of larks treating hypertension found that the members' blood pressure dropped by an average of 8.4 / 6.4 mmHg after six months. According to a study in the Journal of hypertension, a sustained reduction of 5 mmHg in blood pressure reduces stroke mortality by 14%. In a study of nearly 25000 users of the lark diabetes prevention program living in areas with a shortage of medical institutions, participants lost an average of 4.3% after one year, demonstrating the ability of the lark to reach people in areas where traditional care is most difficult to obtain. " Our mission has always been to provide personalized and immediate care driven by artificial intelligence for people with chronic diseases and at risk of chronic diseases, and this new funding and expanded relationship with anthem is a huge vote of confidence in lark's virtual care approach, "said Julia lark health, CEO of lark health Now, more than ever, it's important that millions of people with chronic diseases or chronic diseases can get compassionate care at home, Hu said. We're happy to work with innovative commercial payment agencies and telemedicine service providers, "about lark lark Health is a chronic disease prevention and management company that uses a cognitive behavioral therapy framework, conversational artificial intelligence, and connected devices to help people stay healthy and control their illness. Lark's A.I. is constantly learning how to provide personalized experience for members, communicate through interactive means such as SMS, and remotely monitor patients around the clock, and provide on-site nurses and health coaches when problems need to be upgraded, such as severe readings or drug changes. Lark's diabetes prevention program (DPP) has been fully recognized by the Centers for Disease Control and prevention, behavioral health program, diabetes care program and hypertension program. It has provided services to nearly 2 million members and proved the results of clinical verification. Lark works with many of the largest health programs and self insurance employers to help their members and employees lead healthier lives. Founded in 2011 by chief executive Julia Hu and chief technology officer Jeff Zira, the company has won numerous awards, including being named by fierce healthcare as one of the 15 most potential healthcare companies in 2020. To learn more, visit www.lark.com 。

King River capital (KRC) is a venture capital firm that works with prominent entrepreneurs and management teams to establish innovative and iconic technology companies in the United States and Australia. KRC invests in post revenue, high growth software and AI driven businesses that are addressing key issues in large markets. Since the launch of KRC in 2018, it has invested in financial and health care companies, network security and medical security funds for seven years. The company was founded by three partners with a strong track record in venture capital, and their traditional portfolio includes more than 50 companies from multiple markets. To learn more, visit www.kingriver.co 。

media contact: Dori Zweig, strategic communications manager - lark health [email protected]

source lark health