PRIA Healthcare Management (PRIA), a leader in technology-enabled Market Access services that accelerate the adoption and rapid commercialization of innovative devices and procedures, today announced a significant investment from Virginia based growth equity firm, Aldrich Capital Partners. With the support of growth capital, PRIA Healthcare will quickly expand its Market Access solutions to innovative Medtech companies facing clinical trials and early reimbursement challenges of novel and life changing therapies.
"After bootstrapping PRIA since our founding in 2012, we could see it was time for us to take the next step as the business grew and the needs in the market continued to expand. After meeting with many potential partners, we chose to work with the team at Aldrich Capital Partners because of their deep experience within our space and enormous set of resources they will bring to the table, outside of just capital."
Mike Simon, Founder and CEO of PRIA Healthcare
PRIA looks to further advance its mission to provide patients and providers across dozens of specialties access to innovative medical devices. PRIA's deep expertise in early reimbursement strategy, clinical trial reimbursement programs, and market-leading patient access programs ultimately enhance the market success of ground-breaking medical device procedures. The investment will be used to develop new products and services, as well as expand its reach to additional medical device manufacturers accelerating PRIA's already impressive growth rate.
PRIA and Aldrich Capital Partners share a common vision around the importance of patient-centric services within the life sciences ecosystem.
"Over the last several years, we have set out to invest in an innovative patient services business serving the life sciences segment and after meeting the PRIA team, we were immediately impressed", says Raz Zia, General Partner of Aldrich Capital. "The sector-specific expertise, use of technology and vision set PRIA apart from other vendors in the space and we are excited to leverage our resources, relationships and decades of experience in scaling businesses to help the PRIA team realize their full potential."
Informed by clinical data, PRIA partners with leading medical device manufactures and emerging medical device start-ups across the country and uses centralized, data-driven process workflows to deliver coordinated patient access programs that navigate the complexity of coding, coverage and payment for novel procedures. PRIA brings together patients, providers, medical device manufacturers and health insurers to ensure patients receive the best possible care for their situation.
About PRIA Healthcare
PRIA Healthcare Management is a patient access and reimbursement solutions company specializing in patient-based appeals of denied care. PRIA partners with medical device companies, healthcare providers, and healthcare organizations to ensure that patients are afforded appropriate coverage for the care that they are prescribed. Guided by the PRIA Patient Access Process our team of Patient Access Specialists have the experience and expertise to ensure that patient's rights to prescribed care will always be exercised to the fullest extent.
About Aldrich Capital Partners
Aldrich Capital Partners supports disruptive innovation in healthcare IT, fintech, and application software by investing equity capital in privately held growing companies. Founded by experienced investors and operators, who were also successful entrepreneurs, the founders of Aldrich Capital have been responsible for over $1 billion in technology investments since 1999. Both an operations partner and board-level advisor, ACP brings its portfolio companies strategic insight and access to a broad network of relationships built over 50 combined years of entrepreneurship and investing. Aldrich Capital Partners was founded in 2014 and has offices in Silicon Valley and the Washington, DC metro area.