US-based obesity care start-up Form Health has secured an investment of $38m in a Series B funding round.
The investment round was led by Sound Ventures and featured contributions from other investors, including M13, Next View Ventures and SignalFire.
Form Health will use the funding to enhance its partnerships with enterprises, recruit more American Board of Obesity Medicine (ABOM) certified physicians, and develop its telehealth technology platform.
The company has partnered with several Fortune 200 companies and aims to expand its reach among consultants, employers and health plans.
It exclusively employs ABOM-certified physicians, of whom there are only around 8,000 in the US, and is planning to expedite the hiring and training of these specialists to meet patient demand.
Form Health founder and CEO Evan Richardson said: “We are in a transformational moment in how we understand and treat obesity and metabolic disease and, with this new funding, Form Health can accelerate our work setting the standard in safe, high-quality, evidence-based obesity care.
“Form Health’s many strategic relationships with employers, pharma companies, and patients are the result of offering science-based obesity care delivered by board-certified physicians and Registered Dietitians that drives long-lasting results for patients.
“This approach is fundamentally different from the many players in the category who are focused on handing out GLP-1s or potentially dangerous compounded medicine without the clinical care required for safe, long-term patient outcomes.”
Form Health's programme is delivered entirely virtually through telehealth visits and unlimited messaging.
The company also uses a digital scale and an interactive app to maintain close contact with patients.
Since its establishment in 2019, Form Health has reached tens of thousands of patients across the US with its telehealth care model.
This model comprises a dedicated clinical Care Team, including a registered dietitian and a board-certified doctor, who together create personalised weight loss plans to cater to patients' specific healthcare needs.
