SOURCE: Burrill & Company

Burrill & Company

April 16, 2012 08:45 ET

Burrill & Company Leads $12.9 Million Series E Round in WhiteGlove Health

SAN FRANCISCO, CA--(Marketwire - Apr 16, 2012) - Burrill & Company today said it led a $12.9 million Series E financing round in WhiteGlove Health, Inc., a medical care provider focused on lowering employer healthcare costs. The funding includes an additional $15.3 million in warrants over the next two years.

WhiteGlove will use the funds as working capital and to drive membership in existing markets, expand into new markets, and develop a broker/benefits consultant sales channel.

"WhiteGlove's healthcare service model is one of the most innovative in the country," says David Wetherell, managing partner at Burrill & Company. "We believe WhiteGlove represents a tremendous opportunity to make a real difference in the way healthcare is paid for and delivered in the United States and beyond, and we are excited to be a part of it."

"WhiteGlove has enjoyed strong growth over the past few years through widespread adoption by employer groups," stated Bob Fabbio, co-founder and CEO of WhiteGlove Health. "We set out to change healthcare in America and by all accounts that is what we are doing. We are thrilled to have Burrill & Company as a new partner in this endeavor."

WhiteGlove's Corporate Membership Program is a direct-pay, employer provided alternative that gives employees and their dependents access to acute care, preventative care, chronic care, diagnostics, and prescription medications 365 days a year, in-person (at home or work) or over-the-phone. Under the program, employers pay for WhiteGlove memberships and WhiteGlove does not charge the employer's health plan for its medical services or the generic medications prescribed for its in-person visits. With hundreds of employers using WhiteGlove, its innovative approach operates at a fraction of the cost of other alternatives and is proven to save employers and employees and their dependents money without adding additional costs to the business or necessitating benefits plan redesign.

About WhiteGlove
WhiteGlove Health, a leader in service-driven healthcare, is focused on changing healthcare on a national level by lowering the cost while improving the consumers' healthcare experience. As a medical care provider, we offer self-insured employers a strategic, innovative approach to lowering their healthcare costs and improving their employee productivity and morale. WhiteGlove's Corporate Membership Program provides employers with direct access to acute care, chronic care, and wellness that sits alongside their current health plan delivering a high quality healthcare experience at a fraction of the cost of the existing provider network.

About Burrill & Company
Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the company to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information visit: www.burrillandco.com.

Contact Information

  • Contact:
    Daniel Levine
    Managing Director
    Burrill & Company
    Email Contact
    415-591-5449