A division of Wichita-based Koch Industries Inc. is backing a New York-based technology startup working to change how gastrointestinal (GI) health care is provided.
Koch Disruptive Technologies, which is led by Chase Koch, is leading a $30 million Series B funding round into Oshi Health.
That company is leveraging virtual technology to make it easier for more Americans suffering from digestive disorders to seek and receive care.
“We’ve paved the way for broad access to proven treatments that our traditional health-care system is not structured or incentivized to provide, while building value for patients, employers, health plans and provider groups,” Sam Holliday, CEO of Oshi Health, said in a press release. “Our investors are collectively funding the change-makers in the most crucial categories of healthcare.”
Those investors now include Koch, which joins the funding round with a list of previous investors that includes the venture capital arm of CVS Health.
Oshi Health, which also recently partnered with the Aetna division of CVS, is now available to more than 20 million people as a preferred in-network virtual gastroenterology clinic for national and regional insurers, as well as their employer customers.
The startup said recent clinical trials showed 92% of patients using its virtual platform reported symptom improvement.
Oshi, which has much more on its service available online, also reported an “all-cause” medical savings of more than $10,000 per patient over the course of six months.
“We’ve seen the impact of Oshi Health’s unique care model, and we want to be part of helping health plans and employers understand the significant potential of its virtual multidisciplinary digestive care,” said David Mauney, managing director of Koch Disruptive Technologies. “We are excited to help scale access to Oshi’s best-in-class virtual clinic and proven outcomes which have given them the clear market lead.”
Koch's specific share of the funding round was not disclosed.
