Loyal, the preferred software solution for improved care utilization among the nation's leading health systems and hospitals, today announced its $12.5 million Series A investment round led by Concord Health Partners, a healthcare-focused investment firm that has partnered with the American Hospital Association (AHA) on its AHA Innovation Development Fund.
"From the start, the Loyal team has believed in the power of the healthcare consumer experience and its role in creating healthier communities," said Chad Mallory, Chief Executive Officer of Loyal. "In a tumultuous year for hospitals and health systems, we are seeing firsthand how those that remain committed to making access to care easy are keeping their patients engaged and seeing excellent results."
The funds will be used to enhance and expand Loyal’s existing, proprietary consumer experience platform, and allow the company to secure the talent and resources to make its vision of a truly personalized patient experience touching all aspects of care a reality.
More than 30 hospitals and health systems across the country, including Northwestern Medicine, and UCLA Health, utilize Loyal’s end-to-end digital and AI-powered solutions to improve their patient engagement. Loyal has enjoyed significant commercial growth as it provides the most complete platform to address this growing need for healthcare providers.
"Concord invests in innovative companies with technologies and services that create a more modern and efficient healthcare experience for patients and providers. We are excited to support Loyal with its broad platform of solutions that enable health systems to engage and communicate with patients in a consumer centric way," said James Olsen, Founder and Managing Partner of Concord Health Partners. "The Loyal team empowers healthcare leaders to favorably position their organizations in the wake of COVID-19 to meet the healthcare needs of patients and communities they serve."
A healthcare consumer experience company solely dedicated to the betterment of patient care, Loyal is the preferred software solution for improved care utilization among the nation's leading health systems and hospitals. One of the first companies to offer end-to-end digital and AI-powered solutions spanning the entirety of the patient journey, Loyal makes it easier for patients to access and schedule care they need. From selecting a provider best suited for them to closing the feedback loop on their experience, patients who engage with healthcare networks via our proprietary platform quite simply, tend to be more loyal. Learn how to streamline patients' navigation of your health system and network of clinical services at LoyalHealth.com.
About Concord Health Partners
Concord Health Partners is a healthcare-focused investment firm with a strategic approach that aligns interests between investors and portfolio companies. Concord is primarily focused on investing in companies that have the potential to enhance the value of care through technologies and solutions that lower costs, improve quality and/or expand access to care. The firm, in partnership with the American Hospital Association, sponsors and manages the AHA Innovation Development Fund, a venture capital fund formed to help hospitals and health systems advance health care and better serve their patients and communities.
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