Scan announced Aug. 24 it had made a “strategic investment” in New York-based MedArrive Inc., a health care logistics and services platform that facilitates the extension of emergency and other health care services into patients’ homes.
This move follows Scan Group’s first investment in an outside company when it announced it had invested in Nashville, Tenn.-based kidney care management company Monogram Health Inc. back in February.
Financial details for both investments were not disclosed. Taken together, these investments mark a strategic expansion for Scan Group, which began in 1977 when a group of Long Beach seniors got together to coordinate care and services for seniors with the aim of keeping them independent in their own homes.
Until now, Scan has only offered health plans or services directly to senior citizens. Now it’s also an investor.
“Scan’s outside investment strategy is rooted in supporting organizations that share our commitment to innovating new ways to keep seniors healthy and independent,” Linda Rosenstock, Scan Group’s board chairwoman, said in a statement. Rosenstock is also professor of health policy and environmental health sciences and medicine at UCLA.
Scan’s main offering under the Scan Health Plan brand is Medicare Advantage health plans for seniors. These types of plans offer more comprehensive coverage to seniors than basic Medicare.
Scan Group is also focused on providing direct care and services for seniors. Its main offering in this area is called Independence at Home, which provides a suite of services designed to keep seniors out of assisted-living facilities for as long as possible.
It is this focus that prompted Scan Group to invest in Monogram Health. Monogram Health partners with health plans, physician practices, dialysis providers and clinically integrated health systems to develop personalized care plans that keep patients independent and at home. Besides fulfilling Scan’s main mission, this approach also lowers the number of expensive hospital readmissions.
As for MedArrive, its platform enables health care providers and payors to arrange for emergency medical technicians, paramedics and other health care workers to extend care into patients’ homes. This care includes licensed emergency medical service providers entering patients’ homes, assessing the patient and providing care.
The MedArrive platform also allows the emergency medical services providers to connect via telehealth with the patient’s physician who can guide the care.
“MedArrive is a natural fit for Scan’s investment strategy,” said Binoy Bhansali, Scan’s head of corporate development, who will soon join MedArrive’s board.
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