US-based musculoskeletal recovery plan provider Trainer Rx has rebranded to RecoveryOne having raised $12m in a funding round led by Cigna Ventures, healthcare services provider Cigna’s strategic investment arm.
Digital healthcare investment firm 7Wire Ventures also contributed to the round along with unnamed members of RecoveryOne’s management team.
RecoveryOne offers personalised recovery plans for musculoskeletal conditions in partnership with care providers. It is now expanding that model to include partnerships with health insurance plans.
The company identified 7Wire Ventures as an existing investor. It had previously received approximately $5.2m in equity funding and $2.8m in debt financing between 2014 and May 2018 according to regulatory filings.
Tom Richards, Cigna Ventures’ global lead for strategy and business development, said: “RecoveryOne’s comprehensive solution aligns perfectly with our mission to be a catalyst for change.
“We want to be a driving force behind innovation that makes health care simpler, more affordable and more predictable. RecoveryOne not only shares that vision, but with our investment and support, now has the resources to impact wider populations. We are honoured to add RecoveryOne to our portfolio.”
