Circle Medical Rapidly Expands Telemedicine Offering with New Investment
Decathlon Capital Partners Delivers Major Investment to Spur Growth
San Francisco, CA - (NewMediaWire) - April 16, 2020 - Circle Medical, a leading provider of in-person and telemedicine primary care, promises rapid expansion fueled by a seven-figure investment from Decathlon Capital Partners.
The new funding will support additional service capacity and continued development of the company’s proprietary platform. Circle Medical enables consumers to establish an ongoing relationship with a primary care provider for their physical and mental health, preventive care, medications, referrals and treatment of chronic conditions — as well as urgent issues. All Circle Medical physicians are board-certified in either family or internal medicine, with years of clinical experience.
Circle Medical is also in-network with most major health insurance carriers, so patients can use their insurance just as they would when visiting a traditional doctor’s office.
“Expanding our platform and the number of physicians working with us is vital to meet the demand for Circle Medical’s services,” said George Favvas, CEO and co-founder. “With Decathlon’s investment in our vision for the business, we can now grow the platform and accept many more patients.”
Growth plans include more than tripling revenue over the next 12 months and
opening 22 clinics in six markets over the next three years. Telehealth services
in the United States grew by more than 25 percent over the last five years and
were expected to increase 9.2 percent in 2020, before factoring in the impact
of widespread telehealth implementation as a result of Covid-19, according to
“Telemedicine is a white-hot market in the age of Covid-19,” said Decathlon’s Wayne Cantwell. “Circle Medical has a clinically sound and efficient telemedicine offering that’s convenient for consumers and remarkably cost-effective. We see this as the future of primary care and are pleased to make this investment in Circle Medical’s bold growth plans.”
About Circle Medical
Circle Medical is a rapidly growing full-stack primary care practice that builds technology to make quality, delightful primary care accessible at scale. Circle Medical is affiliated with UCSF and backed by Y Combinator, A. Capital and Collaborative Fund. The practice is in network with all PPO and most HMO insurance plans without charging membership or additional fees. New patients can book in-person appointments in the San Francisco Bay area, or telemedicine nationally at http://circlemedical.com/
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.
George Favvas, CEO