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Infusion Express Announces $22.5 Million Capital Raise, Rebrands as IVX Health
NASHVILLE, Tenn., Aug. 5, 2019 /PRNewswire/ -- Infusion Express, a patient-focused operator of ambulatory infusion centers, today announced completion of a new round of funding of $22.5M to accelerate its nationwide expansion. Infusion Express also announced that it will rebrand as IVX Health, with plans to transition its existing locations to the IVX Health brand later this year.
McKesson Ventures and Health Velocity Capital co-led the round and were joined by existing institutional investor Nueterra Capital alongside new investor CrimsoNox Capital. The new round of financing will enable IVX Health to accelerate the growth of its physical footprint of infusion centers in existing markets while simultaneously entering new markets across the country.
"McKesson Ventures continues to support IVX Health's vision to be the nation's preferred destination for pharmaceutical care for patients with complex chronic conditions," said Dave Schulte, Managing Director of McKesson Ventures. "We are excited to play a strategic role in IVX Health's rapid growth as they pioneer a better care model that truly puts patients first."
"With the trend toward patient empowerment gaining speed, our firm recognizes companies like IVX Health who are reshaping the way healthcare is delivered," said Marty Felsenthal, Partner at Health Velocity Capital. "The impressive growth achieved to date is a testament to the way IVX Health serves its patients and providers within a more cost-effective, high-quality setting of care."
As IVX Health continues its expansion, all new infusion centers will open under the IVX Health name and brand. Existing centers will continue to operate under the Infusion Express banner, with a goal of transitioning these locations to the IVX Health brand in Q4-2019. IVX Health's current footprint includes multiple centers located throughout Kansas City, Philadelphia, Chicago, and San Francisco, with plans to open new centers in Nashville, TN, Harrisburg, PA, and Columbus, OH in the coming months. IVX Health will further expand into additional markets in 2020.
"Our commitment is to provide world-class service and clinical excellence to patients receiving ongoing biologic infusion or injection therapy," said Doug Ghertner, CEO of IVX Health. "We believe the IVX Health brand honors our strong heritage while better aligning with our mission to redefine the care experience for those with complex chronic conditions. The IVX Health name and brand ensures a stronger foundation for us moving forward as we seek to serve more and more patients over the coming years."
IVX Health offers an alternative to hospital-based infusion and injection services, transforming the patient experience by providing a superior level of service in a cost-effective, convenient site of care. Its local centers offer guaranteed private suites, large flat screen TVs, high-speed Wi-Fi, leather recliners with chairs for guests, and flexible, on-demand scheduling, including evening and weekend appointments.
About IVX Health
IVX Health (IVXpress, Inc.) is a leading provider of infusion and injection therapy for those with complex chronic conditions such as rheumatoid arthritis, Crohn's disease, multiple sclerosis and other conditions.
IVX Health centers are conveniently located in the communities where patients live and offer flexible scheduling, including evenings and weekends. Patients relax in their own private suite, equipped with high-speed Wi-Fi, a flat screen TV, and comfortable recliners with room for guests. IVX Health centers operate under the name and brand Infusion Express in Kansas City, Philadelphia, Chicago, and San Francisco.
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SOURCE IVX Health; Infusion Express