Gem Specialty Health Inc, a digital specialty care clinic, has raised a seed financing round led by HealthTrend Capital to expand Gem Health, its virtual sleep apnea clinic, by offering insurance coverage through more local and national health plans.
“I am excited to partner with GEM in its mission to improve the sleep care experience. The company’s comprehensive approach streamlines the journey for patients navigating complex conditions, ultimately improving outcomes and reducing costs,” says HealthTrend Capital’s managing partner, Bill Brinkman, in a release. “I look forward to working with Brian and the broader GEM team to support their growth and success.”
The financing round also drew participation from existing investor Base10 Partners and new investor Mairs & Power Venture Capital. The company, founded in 2022, has now raised over $5 million to date.
Gem Health’s virtual approach gets patients to care in days, rather than weeks or months, while lowering costs for patients and insurers, according to a release from the company, which adds that 70% of Gem’s patients continue with their treatment beyond 30 days.
“We started in obstructive sleep apnea because we witnessed firsthand the tradeoff many patients were making with regards to their care—trying to decide if they should go to traditional providers and wait three to four months for care or try an online option that does not accept insurance and may not have clinical rigor. Millions of patients just give up and continue to live with OSA,” says Brian Sauer, founder and CEO of Gem Health, in a release. “Patients do not want to have to choose between convenient, clinically sound, and insurance-covered. They want all those things in a single experience. We are proud to say that Gem has built this model and will be rapidly scaling it with the support of our latest investment.”