IVX Health, a US-based outpatient infusion centre network backed by medical supplies distributor McKesson Ventures, raised $100m in series F funding from private equity firm Great Hill Partners yesterday.
Founded in 2013, IVX provides outpatient IV infusions and injection services for patients with chronic conditions such as multiple sclerosis, rheumatoid arthritis and Crohn’s disease without them needing to go to a hospital.
The company operates more than 50 infusion centres across 16 US markets and the funding will be used to speed up its move into new markets beginning in 2022.
McKesson’s corporate venturing arm, McKesson Ventures, co-led a $22.5m round for IVX in August 2019 with Health Velocity Capital that included Nueterra Capital and CrimsoNox Capital.
The company – then known as Infusion Express – had previously received $13.5m in a 2017 series B round led by McKesson Ventures that also featured Health Velocity Capital.
Doug Gherter, chief executive of IVX Health, said: “IVX and Great Hill both see an inflection point in infusion therapy, as the growth in diagnosed autoimmune conditions and trends toward patient choice have aligned with an uptick in innovative new therapies.
“Many patients are unfortunately still left with few options for receiving this life-changing care, often within a crowded infusion room of a hospital – and that is where we come in.
“We are confident that Great Hill’s investment and deep domain expertise will help us address this shortage of care options by enabling IVX to bring our unique clinical model and patient-centred amenities to an even broader universe of patients.”
