Nashville-based outpatient infusion center provider IVX Health has landed a $100 million Series F investment from Great Hill Partners to launch its consumer-centric model into new markets.
IVX offers an alternative to hospital-based infusion and injection services for chronic conditions including multiple sclerosis, Chrohn’s disease and rheumatoid arthritis, among others. The company's centers are designed around consumer comfort with accommodations like private suites, flat screen TVs, Wi-Fi and leather recliners. Patients are able to schedule their infusions using a virtual platform that offers time slots throughout the week, including evenings and weekends.
The funding will be used to expand into new markets, according to a press release. The company currently operates 500 infusion centers across 16 markets.
Great Hill Partners will take a minority stake in the company with its investment, joining the local company’s existing investors Linden Structured Capital, McKesson Ventures, Health Velocity Capital and Neuterra Capital. Great Hill Partners’ portfolio includes health care companies RXbenefits, Quantum Health, Labor First, ParetoHealth and Vatica Health.
As part of the transaction, Great Hill Managing Director Mark Taper will join IVX Health’s board of directors.
“IVX Health is disrupting a distinct and rapidly growing healthcare vertical — biologic infusion and injection therapy — in unique ways that are driving tangible efficiencies for the U.S. healthcare system as a whole,” Taber said in the release. “We are excited to play a strategic, supporting role in fueling IVX Health’s next phase of growth as it enters new markets and collaborates with other providers in the healthcare ecosystem to drive value while continuing to redefine the care experience for its patients and referring providers.”