Tom Brady-backed telehealth firm eMed valued at over $2 billion in latest funding round

By Sneha S K

March 26 (Reuters) - Telehealth steadfast eMed said connected Thursday it has raised $200 cardinal successful its latest backing ‌round, valuing the Miami, Florida-based institution astatine much than $2 ‌billion.

Backed by seven-time Super Bowl champion Tom Brady, the institution partners with employers ​and authorities payers to negociate GLP-1 usage, a people of obesity and diabetes drugs whose outgo load has been a obstruction to wider security coverage.

Several telehealth platforms are competing for a portion of ‌the booming GLP-1 ⁠weight-loss market, wide expected to make $150 cardinal successful yearly income by adjacent decade.

Proceeds from the 'series A' financing ⁠round, which was led by Aon Consulting, volition beryllium utilized to beforehand eMed's agentic AI level and fortify its finances arsenic it launches ​a caller ​healthcare outgo exemplary aimed astatine ​lowering leader healthcare costs, it ‌said.

Other salient investors included Brady, who is besides the company's founding main wellness officer, its CEO Linda Yaccarino, arsenic good arsenic Paragon Biosciences laminitis and CEO Jeff Aronin, among others, eMed said.

Founded successful 2020, eMed gained traction during the pandemic with at-home COVID-19 ‌tests and aboriginal expanded into diagnostics ​for strep pharynx and UTIs, though it ​has since moved distant ​from those offerings.

"The rise confirms eMed momentum and ‌establishes america arsenic the definitive institution ​for colonisation wellness ​and helping employers interruption the runaway wellness attraction costs and interruption their outgo curve," eMed CEO Linda Yaccarino, who ​was the erstwhile ‌chief enforcement of societal media level X, said successful an ​interview connected FOX Business Network.

(Reporting by Sneha S K successful ​Bengaluru; Editing by Leroy Leo)