CORRECTION - Bicycle Health Announces $5 Million Investment From Cobalt Ventures to Scale Its Virtual Opioid Use Disorder Treatment
Summary
From a lack of geographical access to high financial and social costs, in-person treatment is not designed for the majority of Americans. This additional funding from Cobalt Ventures will enable us to expand our treatment to even more patients across the country, and ultimately help more people live addiction-free lives.Founded in 2017, Bicycle Health is the leading provider of virtual opioid addiction treatment, reducing OUD symptoms in over 18,000 patients and saving the healthcare system over $1.1 billion. Bicycle Health is also the first and only virtual provider in the OUD space to a peer-reviewed study proving the efficacy of its telehealth model.Bicycle Health has demonstrated a unique ability to identify, engage and retain the silent sufferers of opioid abuse, stated David Eichler, President and Managing Partner of Cobalt Ventures. Cobalt invests in high growth companies that align with Blue KCs mission and can scale nationally across the payer industry. Cobalt actively partners with entrepreneurs in bringing innovative solutions to healthcare that increase overall quality, improve outcomes, and lower costs for customers and members.