Telehealth startup Ria Health secures $18m Series A to scale online alcohol use disorder treatment

Telehealth startup Ria Health secures $18m Series A to scale online alcohol use disorder treatment

Published: 01-07-2022 15:20:00 | By: Pie Kamau | hits: 296 | Tags:

Ria Health, a telehealth provider specializing in alcohol use disorder (AUD) treatment, announced the closing of $18 million in Series A funding led by SV Health Investors (SV), BPEA Private Equity, and current Ria Health investor, SOSV, participated in the financing. 

The announcement comes on the heels of commercial partnerships with regional and national health plans, including Anthem Blue Cross Blue Shield, UnitedHealth Group Optum,  Beacon Health Options, Highmark Health, and Magellan Health, among others.

Ria Health will utilize funds to expand care delivery to meet demand for AUD treatment from health plans, multi-state employers, Taft-Hartley plans, and healthcare providers. Since the start of the COVID-19 pandemic, misuse of alcohol has increased sharply, with recent studies indicating that excessive drinking among U.S. adults is up more than 35 percent.

Tom Nix, CEO, Ria Health: "More than 1 in 10 adults struggle with alcohol use disorder, and for the past 40 years the one-size-fits-all approach to multi-addiction treatment has yielded poor results. Ria Health's mission is to increase access to our clinically effective, evidenced-based treatment that meets the preferences of people who have AUD and removes the barriers of stigma, cost, and inconvenience."

Ria Health has been providing a comprehensive telehealth alcohol treatment program since 2016. The Company was the first AUD provider to receive The Joint Commission accreditation based on providing evidence-based treatment protocols and clinical quality measured by patient outcomes. Ria Health's expert providers empower their patients to set personalized goals, which may focus on clinically-measured reduction of alcohol misuse rather than abstinence. Patients utilize a combination of one-on-one coaching, medical support, digitally connected breathalyzers, and physician prescribed medications to systematically reduce the adverse impacts of AUD and treat co-occurring mental illness.

Ria Health patient outcomes show that within 30 days, 70% of patients reduce their World Health Organization (WHO) risk drinking level, and over 12 months, more than 80% of patients reduce their WHO risk drinking level. In addition, studies show that patients who subsequently reduce their WHO risk drinking level report clinically significant improvements in how they feel and function. These improvements include a lower risk for alcohol dependence, less severe alcohol-related consequences, reduced health care costs, improved mental health, improved quality of life, improved liver function, and lower systolic blood pressure.

Michael Balmuth, Managing Partner, SV: "As drinking rose dramatically during the pandemic, Ria Health's talented founders and management team led the way with innovative treatment of alcohol use disorder by combining pharmacological and behavioral support. Ria Health's clinical approach and high-quality outcomes will continue to transform the substance use treatment industry."

www.riahealth.com