Qliance is looking to transform the way Americans receive their health care, certainly no easy task. And now the Seattle company has reeled in some extra cash to help tackle the problem.
Qliance, which operates primary health care clinics in the Puget Sound area, has raised $3.1 million of a $10 million venture capital round, according to a SEC filing. A spokeswoman for the company said that the new cash infusion will be used to support its growth in Washington state, with plans to open a new clinic in Bellevue early next year, as well as open new clinics outside of the state.
Existing investors Second Avenue Partners and New Atlantic Ventures are leading the round. It is unclear if Amazon.com founder Jeff Bezos — who led a $6 million investment in the company last year — is participating. Other backers of the company include comedian and Seattle Sounders owner Drew Carey, and entrepreneur Michael Dell.
Venture capitalist and aQuantive co-founder Nick Hanauer is one of the company’s largest shareholders.
Qliance doesn’t operate like typical health care providers, bypassing the traditional insurance providers and offering unlimited visits to a primary physician.
It charges a monthly fee of $49 to $89, boasting “unhurried” office visits and 24-hour telephone access to physicians. There are no limits or restrictions on pre-existing conditions, and the company says the costs are typically 20 to 50 percent less than more traditional insurance-based systems.
In October, Qliance appointed Erika Bliss as president and CEO. Prior to the most recent round, the company had raised about $14 million.
While Qliance has not grown as quickly as originally planned, the company does have some momentum behind it. Last month, Sound Health & Wellness Trust’s SoundPlus PPO Plan added Qliance as a benefit option. And earlier this month, a bipartisan bill was introduced in Washington D.C. that would allow Medicare recipients to participate in direct care primary practices like Qliance. The bill was introduced in the house by Jay Inslee (D-WA) and Bill Cassidy (R-LA).
Qliance says that its patients experienced 65 percent fewer ER visits and 43 percent fewer hospitalization days.
