PURE Healthcare Raises $40 Million to Expand Their Infusion Services Nationwide
Salt Lake City—PURE Healthcare, the parent company of PURE Infusion Suites, an innovator in the ambulatory infusion space, today announced a new round of funding of $40M to expand the national footprint of PURE Infusion Suites. The $40M commitment, the largest capital commitment seen to date in the ambulatory infusion space, will accelerate the nationwide expansion of PURE Infusion Suites and will rapidly grow their presence in markets needing outpatient competition to more effectively drive down the overall cost of healthcare.
BUILD Capital Partners led the funding round. The investment commitment will allow PURE Infusion Suites to open new infusion centers in communities that will most benefit from their mission to improve the infusion patient experience, improve clinical outcomes, and increase overall cost savings in infusion healthcare.
“At BUILD, we are serious about finding and funding companies that are making a positive impact in the world, driving positive financial results, and leading innovation in their industry. We are absolutely thrilled to partner with PURE Healthcare to improve the overall healthcare experience,” said Brent Jacobsen, Managing Partner at Build Capital Partners.
“Advances in specialty pharmaceuticals have dramatically improved the lives of people suffering from auto-immune diseases and other chronic conditions. Unfortunately, when these already costly drugs are administered in a traditional hospital setting, the total cost to the healthcare system can be 4x higher than when that same patient receives care in a dedicated infusion center like PURE Infusion Suites. Taking that unnecessary cost out of the healthcare system creates savings for everyone,” said Josh Tandy, CEO of PURE Healthcare.
New York Times recently reported, “Data shows that hospitals are by far the biggest cost in our $3.5 trillion health care system, where spending is growing faster than gross domestic product, inflation and wage growth. Spending on hospitals represents 44 percent of personal expenses for the privately insured, according to Rand.
A report this year from researchers at Yale and other universities found that hospital prices increased a staggering 42 percent from 2007 to 2014 for inpatient care and 25 percent for outpatient care, compared with 18 percent and 6 percent for physicians. “In addition to the obvious cost savings, we wanted to create a more meaningful experience for patients; one that felt more like visiting a sophisticated spa, with private suites and a clean modern design that cultivates healing, hope, and relaxation,” says Trey Gardner Co-Founder of Pure.
About PURE Infusion Suites
PURE Infusion Suites, a subsidiary of PURE Healthcare, is a high-quality provider of infusion and injection therapy for those with complex chronic conditions such as rheumatoid arthritis, Crohn’s disease, multiple sclerosis and other chronic conditions. PURE works in a collaborative relationship with the rest of the healthcare community to help drive down the cost of healthcare. PURE opened their first state-of-the-art infusion center in Billings, Montana, and currently has multiple locations under construction in various states across the US. PURE facilities are like nothing the industry has seen to date. PURE Infusion Suites facilities boast beautiful private suites with room large enough for visiting family and friends. The individual suites vary, some equipped for hosting young children and others designed for productivity with workstations. There are dark rooms for those that wish to relax and pass the time resting. Overall the experience at PURE is tailored to fit the needs of each patient.