Investment will support rapid growth of Sempre's life sciences and payer networks and expansion into adjacent product areas
Sempre Health works with leading health plans and life sciences companies to reduce what patients pay for their medications. (Credit: 3D Animation Production Company from Pixabay)
Sempre Health, the leading solution for behavior-based healthcare pricing, today announced $20M in additional funding from three new investors, including Cencora Ventures and Echo Health Ventures. Existing investors including the Blue Venture Fund, UPMC Enterprises and Industry Ventures also participated.
This comes at an important time for the millions of Americans who struggle to afford their life-saving medications, many of whom have benefited from Sempre programs that drive a more than 20% improvement in adherence and Net Promoter Score® of 95, a testament to the high level of satisfaction Sempre patients have with the company’s dynamic discount and SMS-based adherence solutions.
Unlike traditional coupons and cash card programs, Sempre aligns multiple healthcare stakeholders to dynamically adjust a patient’s out-of-pocket costs at the point of dispense based on individual adherence and benefit design. With the new funding, Sempre will accelerate growth of its two-sided network of pharma manufacturers and health plans, launch products for new populations, and significantly grow the number of patients helped by the unique solution.
Cencora Ventures, formerly known as AB Health Ventures, the corporate venture fund of Cencora Inc., understands the importance of medication adherence in driving healthcare outcomes and believes Sempre’s differentiated solution can drive meaningful impact.
“Cencora is committed to advancing innovative solutions that better enable medication access and affordability in support of patient health,” said Leslie Donato, EVP, Chief Strategy Officer at Cencora. “Sempre’s unique business model has the ability to evolve traditional market access approaches for life sciences companies and drive substantial improvement in medication adherence.”
Echo Health Ventures is a purpose-driven strategic venture capital and growth equity firm focused on accelerating transformational healthcare innovation on a national scale. Echo invests to grow great healthcare companies by building strong relationships between enterprises and innovators to meet the needs of tomorrow’s healthcare consumers in an economically sustainable way.
The participation of existing investors, including Blue Venture Fund, UPMC Enterprises, and Industry Ventures, further demonstrates their continued confidence in Sempre Health’s mission and growth trajectory.
Source: Company Press Release