Bicycle Health
| Company type | Medication assisted treatment provider |
|---|---|
| Industry | Healthcare |
| Founded | 2017 |
| Founder | Ankit Gupta |
| Headquarters | Boston |
Area served | 25 states in United States |
Key people | Ankit Gupta (Founder and CEO),[1] Chris Norris (CTO), Justin Guadagno (CCO)[2] |
| Website | https://www.bicyclehealth.com/ |
Bicycle Health is a virtual medication assisted treatment provider for opioid use disorder (OUD). The Boston-based company was started in 2017 and was named a TIME 100 Most Influential Company in 2022.
History
[edit]Bicycle Health was founded in 2017 by Ankit Gupta. Initially the company operated a clinic in Redwood City, California, but during the COVID-19 pandemic, it began providing virtual treatment methods.[3]
The company's seed round of funding was led by SignalFire and other angel investors in May 2020.[4] In June 2022, it raised $50 million in series B funding round, bringing its total fundraise to date to $83 million.[5][6] The round was led by InterAlpen Partners and other investors like Questa Capital, Frist Cressey Ventures, City Light Capital and Cobalt Ventures.[7]
Bicycle Health has partnerships with several insurance companies including Aetna, Blue Cross/Blue Shield, Cigna (Evernorth), Medicaid and United Healthcare.[8][9] It has also collaborated with emergency telehealth provider, Tele911, clinician mental health provider, Marvin and healthcare technology company, Bamboo Health.[10][11][12]
In January 2022, Bicycle Health became a council member of the ATA Action Founding Advocacy launched by The American Telemedicine Association.[13]
Description
[edit]Bicycle Health provides opioid use disorder, specifically the suboxone (buprenorphine) therapy, via telemedicine. It also offers medication management, support groups, at-home drug testing, patient monitoring and care coordination. As of October 2022, Bicycle Health has served 18,000 patients by its services in 29 states.[2][14][8]
The company was recognized as one of the TIME100 Most Influential Company in March 2022.[14]
References
[edit]- ^ Staff. "Ankit Gupta - 2022 40 Under 40". Fortune.
- ^ a b Staff (October 6, 2022). "Bicycle Health Expands Executive Team". Yahoo! News - Sports.
- ^ Dunn, Andrew (August 15, 2022). "Meet the 30 young leaders forging a new future for the healthcare industry in 2022". Business Insider.
- ^ Shieber, Jonathan (16 December 2020). "Bicycle Health, the virtual opioid use disorder therapy service, will soon be available in 25 states". TechCrunch.
- ^ Gliadkovskaya, Anastassia (8 June 2022). "Bicycle Health snags $50M in funding to drive accelerated growth in virtual opioid addiction treatment". Fierce Healthcare.
- ^ Brodwin, Erin (7 June 2022). "Boston-based Bicycle Health offers medication assisted treatment for opioid use disorder". Axios.
- ^ Kaberline, Brian (September 26, 2022). "Cobalt Ventures invests in Boston addiction telemed company". www.bizjournals.com.
- ^ a b Lovett, Laura (23 September 2022). "Virtual MAT Provider Bicycle Scores Additional $5M from BCBS of KC's Venture Arm". Behavioral Health Business.
- ^ Lagasse, Jeff (September 2, 2022). "Evernorth, Cigna partner with Bicycle Health on opioid use treatment". Healthcare Finance News.
- ^ Lovett, Laura (13 April 2022). "Bicycle Health inks deal with Marvin to provide clinicians with opioid use disorder treatment". MobiHealthNews.
- ^ Olsen, Emily (17 August 2022). "Bicycle Health partners with Tele911 to offer opioid use treatment". MobiHealthNews.
- ^ Staff (March 2, 2022). "Bicycle Health Expands Partnership with Bamboo Health". Yahoo! Finance.
- ^ Jercich, Kat (24 January 2022). "Telehealth advocates ramp up pressure on elected officials". Healthcare IT News.
- ^ a b "TIME100 Most Influential Companies 2022: Bicycle Health". Time.