Telemedicine provider raising funds for opioid treatment

Telemedicine provider raising funds for opioid treatment

PursueCare, a Connecticut-based telemedicine provider, recently announced a Series A capital raise to meet the demand for its virtual medication-assisted treatment programs since the start of the COVID-19 pandemic.

The company treats individuals struggling with Opioid Use Disorder (OUD).

“People with OUD and other substance use disorders may be at greater risk due to the effects of those substances on lung and heart health,” Dr. Steven Powell, PursueCare’s chief medical officer, said. “By transitioning patients out of physical interaction and ensuring they can safely receive consistent care from home, we can help reduce unnecessary exposure for vulnerable populations.”

PursueCare launched last year to serve rural communities lacking comprehensive treatment options. Patients have remote access to care coordinators and to medical providers who can prescribe medication.

The company ships medication to patients using its Joint Commission-accredited pharmacy, CompreCare Rx.

The U.S. Drug Enforcement Administration waived its requirement March 16 that patients must visit a partnering medical facility before treatment continues at home. The waiver will be effective for the duration of the Department of Health and Human Services public health emergency declaration.

The company is using Chicago-based venture firms Seyen Capital and OCA Ventures to raise capital, along with existing and new investors.