Direct Healthcare Company Nomi Raises $110M

Nomi Health is looking to expand its offerings following a $110 million Series A, the direct healthcare company announced Wednesday (Dec. 8).

“Led by Rose Park Advisors and Arbor Ventures, the funding will immediately support continued platform development, including investments in new offerings that power the delivery of everyday healthcare services into communities and that reduce costs for organizations buying healthcare today,” the Utah company said in a news release.

Nomi works with local governments and private sector employers, helping more than 10 million people get access to everyday care — things like COVID tests and diabetes screenings — at 30% lower cost to healthcare buyers.

The company was behind some of the country’s first burden-free COVID testing programs in the early days of the pandemic, and also operates what it calls “the nation’s largest-known fleet of mobile care units,” providing care in underserved areas such as prisons, schools, long-term care facilities and meat-packing plants.

Meanwhile, Americans are struggling to pay for healthcare, as a recent PYMNTS study, conducted with CareCredit, found.

Our research shows many middle-income Americans living paycheck to paycheck and are at risk of rationing their healthcare. Even among people who have health insurance, more than half of them — 54% — who earn between $50,000 and $100,000 a year are living paycheck to paycheck and would probably see a benefit from healthcare financing.

Read more: US Consumers Forgo Medical Treatments Over Lack of Healthcare Payments Options

Nomi CEO Mark Newman says the last 18 months have illustrated the need for a different approach to healthcare, one he argues his company offers.

“We cannot go back to the status quo of a healthcare system that yields high costs, limited access and poor experiences,” Newman said. “That’s why we built an entirely new care ecosystem outside of traditional healthcare that has delivered on all three fronts: reduced costs for organizations buying healthcare, increased access to care for Americans who need it most, and an improved experience for all.”