By Sneha S K
March 26 (Reuters) - Telehealth firm eMed said on Thursday it has raised $200 million in its latest funding round, valuing the Miami, Florida-based company at more than $2 billion.
Backed by seven-time Super Bowl champion Tom Brady, the company partners with employers and government payers to manage GLP-1 usage, a class of obesity and diabetes drugs whose cost burden has been a barrier to wider insurance coverage.
Several telehealth platforms are competing for a slice of the booming GLP-1
weight-loss market, widely expected to generate $150 billion in annual sales by next decade.
Proceeds from the 'series A' financing round, which was led by Aon Consulting, will be used to advance eMed's agentic AI platform and strengthen its finances as it launches a new healthcare payment model aimed at lowering employer healthcare costs, it said.
Other prominent investors included Brady, who is also the company's founding chief wellness officer, its CEO Linda Yaccarino, as well as Paragon Biosciences founder and CEO Jeff Aronin, among others, eMed said.
Founded in 2020, eMed gained traction during the pandemic with at-home COVID-19 tests and later expanded into diagnostics for strep throat and UTIs, though it has since moved away from those offerings.
"The raise confirms eMed momentum and establishes us as the definitive company for population health and helping employers break the runaway health care costs and break their cost curve," eMed CEO Linda Yaccarino, who was the former chief executive of social media platform X, said in an interview on FOX Business Network.
(Reporting by Sneha S K in Bengaluru; Editing by Leroy Leo)
