AI-powered third-party administrator Marpai announced it would add value-based care provider NuvoAir, a virtual-first specialty care provider focused on managing patients with complex heart and lung conditions, to its Marpai Connect platform.
NuvoAir offers same-day virtual care appointments to individuals with cardiopulmonary conditions, such as chronic obstructive pulmonary disease, chronic heart failure and asthma. Individuals can connect with respiratory therapists, care coordinators, nurses, health coaches, cardiologists and pulmonologists.
Marpai offers AI-enabled health plan administration for self-funded employers, and through its Marpai Connect platform, matches its members to value-based care providers.
NuvoAir will be added to the Marpai Connect platform for the administrator’s self-funded employer health plan members and their families.
“We are thrilled to offer NuvoAir to address the high-cost heart and lung conditions facing members of health plans we manage,” Edmundo Gonzalez, CEO of Marpai, said in a statement. “With NuvoAir, members and their families can readily access care that can dramatically improve their health and quality of life and avoid high-cost emergency room visits and hospitalizations, which saves significant money for employers and their respective health plans.”
THE LARGER TREND
In 2021, Boston-based NuvoAir, which also has an office in Sweden, raised $12 million (€10 million) in Series A funding to expand its chronic disease management and clinical trial platforms.
Last year, the company announced an $11 million extension to its Series A round, bringing its total raise to $25 million.
Publicly-traded company Marpai reported its revenue guidance for Q2 2023 as between $9.5 million to $9.8 million. It also reported its expected EBITDA and net income will increase in the year’s second quarter, compared to the first quarter.
Another company in the cardiac health management space is Hello Heart, maker of an app-driven platform designed to help employees manage hypertension, heart rate and cardiovascular health. Last year, the company scored $70 million to grow its hypertension management service.