Zest Health secures $13 million in seed funding to enhance virtual care for inflammatory skin diseases, promoting personalized dermatology solutions.
Quiver AI Summary
Zest Health, a pioneer in value-based virtual care for inflammatory skin diseases, has secured $13 million in seed funding to enhance its personalized dermatology services. The platform targets the needs of approximately 40 million Americans suffering from eczema and psoriasis, addressing long wait times and rushed dermatology visits. By utilizing patient data, Zest offers tailored prescription plans and lifestyle changes, significantly reducing pharmacy costs while maintaining high treatment efficacy. The company reports over 80% of patients experiencing disease improvement and a high satisfaction rate, reflected in its Net Promoter Score of 83. With the investment from Roivant Health, Zest aims to expand partnerships with health plans and employers to offer more effective, accessible care for chronic skin conditions.
Potential Positives
- Zest Health announced $13 million in seed funding, which will support the scaling of its services and partnerships in addressing inflammatory skin diseases.
- Over 80% of patients using Zest Health report disease improvement, demonstrating the effectiveness of their personalized, virtual care approach.
- Zest Health boasts a high Net Promoter Score (NPS) of 83, indicating strong patient satisfaction and potential for growth through positive referrals.
- The company's innovative model reduces pharmacy spend significantly, providing a dual benefit of cost savings and improved health outcomes for patients.
Potential Negatives
- The announcement of only $13 million in seed funding may indicate a lack of significant financial backing compared to competitors in the healthcare technology space, potentially raising concerns about scalability and sustainability.
- The reliance on a virtual care model may present challenges in delivering adequate hands-on care for patients with complex dermatological issues, which could affect patient satisfaction and outcomes in the long term.
FAQ
What is Zest Health's primary focus?
Zest Health focuses on value-based virtual care for patients with inflammatory skin diseases like eczema and psoriasis.
How much funding did Zest Health recently secure?
Zest Health announced $13 million in seed funding to enhance its platform and services.
What makes Zest Health's approach unique?
Zest's virtual, high-touch approach personalizes dermatology care while minimizing unnecessary pharmaceutical use and costs.
What are the benefits of Zest Health's services?
Patients experience better outcomes, lower costs, and over 90% prefer Zest over previous dermatology experiences.
Who invested in Zest Health?
Roivant Health incubated and invested in Zest Health, leveraging its expertise in inflammatory disease innovation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ROIV Insider Trading Activity
$ROIV insiders have traded $ROIV stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.
Here’s a breakdown of recent trading of $ROIV stock by insiders over the last 6 months:
- DANIEL ALLEN GOLD has made 0 purchases and 6 sales selling 4,426,000 shares for an estimated $51,820,727.
- MATTHEW GLINE (CEO) sold 1,983,257 shares for an estimated $23,382,600
- MAYUKH SUKHATME (Pres&Chief Investment Officer) has made 0 purchases and 4 sales selling 1,298,821 shares for an estimated $15,613,376.
- FINANCIAL LP QVT has made 0 purchases and 2 sales selling 926,000 shares for an estimated $10,942,820.
- ERIC VENKER (President & COO) has made 0 purchases and 6 sales selling 754,604 shares for an estimated $8,715,662.
- KEITH S MANCHESTER has made 0 purchases and 2 sales selling 503,000 shares for an estimated $5,866,308.
- RAKHI KUMAR (Chief Accounting Officer) sold 250,000 shares for an estimated $2,972,500
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ROIV Hedge Fund Activity
We have seen 168 institutional investors add shares of $ROIV stock to their portfolio, and 136 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 33,491,231 shares (+408.8%) to their portfolio in Q3 2024, for an estimated $386,488,805
- VIKING GLOBAL INVESTORS LP removed 15,056,780 shares (-21.8%) from their portfolio in Q3 2024, for an estimated $173,755,241
- BLACKROCK, INC. added 6,591,789 shares (+18.6%) to their portfolio in Q3 2024, for an estimated $76,069,245
- SB INVESTMENT ADVISERS (UK) LTD removed 5,427,314 shares (-7.6%) from their portfolio in Q3 2024, for an estimated $62,631,203
- TOMS CAPITAL INVESTMENT MANAGEMENT LP added 4,015,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $46,333,100
- CITADEL ADVISORS LLC added 4,004,146 shares (+208.1%) to their portfolio in Q3 2024, for an estimated $46,207,844
- BVF INC/IL removed 2,742,409 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $31,647,399
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Zest Health, the first value-based virtual care company focused on treating patients with inflammatory skin diseases, today announced $13 million in seed funding. Zest Health’s platform provides personalized dermatology care that minimizes unnecessary pharmaceutical utilization while producing sustainable clinical outcomes.
The roughly 40 million Americans with eczema and psoriasis face average wait times of over a month and rushed visits as dermatologists increasingly turn to cash-pay models that prioritize aesthetics. To minimize and expedite office visits, prescribers rely on systemic medications to quickly achieve clear skin. Overreliance on these medications has led to rapid growth in associated spend. Biologics for these conditions are being used earlier and more chronically, growing at 15% annually and driving over $40B in annual US spend.
Zest provides patients with more personalized, responsive care. Zest’s virtual, high-touch approach is bolstered by patient data to identify optimal prescription regimens, over-the-counter medications, lifestyle changes, and preventative interventions for more convenient, durable relief.
Zest’s approach reduces pharmacy spend by thousands of dollars per enrollee annually without sacrificing outcomes:
- Over 80% of patients see disease improvement as measured by Body Surface Area (BSA) and the Dermatology Life Quality Index (DLQI)
- Over 90% of patients prefer Zest to their prior dermatology experiences
-
Zest has a Net Promoter Score (NPS) of 83
“As a psoriasis patient myself, I know that the status quo fails to deliver ongoing support and lasting relief,” said Zest Health CEO Olivia Deitcher. “At Zest, we have flipped traditional dermatology care on its head by providing radical access and personalized care so flaring patients get expert help during and in between flares, without overreliance on biologics.”
Roivant Health incubated and made this investment in Zest, bringing their historic expertise in inflammatory disease innovation and transformative health technologies. The funds will be used to scale Zest’s existing partnerships with health plans and employers seeking to address this growing cost pool.
“Many problems in healthcare involve challenging tradeoffs between quality and cost. This is an exception where higher quality simultaneously reduces unnecessary expense,” said Alex Gasner, EVP of Roivant Health. “We are excited at Roivant to support Zest as they use technology to bring dermatology into the 21st century.”
About Zest Health
Zest delivers more effective, accessible, and compassionate solutions for patients with chronic skin conditions like psoriasis and eczema. Through its virtual platform, Zest achieves better outcomes at a lower cost for the thousands of patients who have signed up for Zest’s services to date. Zest currently partners with health plans and employers in value-based arrangements to improve the lives of members. To learn more, please visit
www.zesthealth.com
.
Contact Information
[email protected]