What you should know:
– Virta Health, a San Francisco-based company in California, is raising $ 133 million, led to redirect its virtual metabolic clinic and approach to reversing chronic metabolic conditions (type 2 diabetes, prediabetes and obesity) to the Tiger Global-led masses.
– E-Series funding followed a recent increase of $ 65 million in December 2020, almost doubling the company’s estimate in just 5 months to $ 2 billion.
– Driven by providing transformational outcomes in patient health and cost savings, Virta is experiencing growing demand from large employers, health plans and government bodies. Organizations are eager to add solutions to the turnaround to their benefits portfolio, driving Virta’s growth rate to nearly 200% year on year. Virta works with over 100 organizations and treats patients in all 50 states.
Impact of diabetes
Type 2 diabetes is one of the most expensive chronic diseases in America. Nearly half of adults in the U.S. have diabetes or pre-diabetes, and the epidemic is still growing. This also happens at a time when reversing diabetes is extremely important, as uncontrolled blood sugar T2D + proves to be the biggest risk factors for negative outcomes and death from COVID-19. Businesses, health plans and consumers understand the urgent need to mitigate this risk, and the demand for Virtia’s 100% virtual treatment – which helps patients regain blood sugar levels without medication – is booming.
Founded in 2014 with the goal of reversing diabetes in 100 million people by 2025, Virta is the first clinically proven treatment for safe and sustainable reversal of type 2 diabetes. Clinically proven treatment of Virta reverses type 2 diabetes and significantly improves several chronic comorbidities, taking the direct target of this heavenly health care cost and nearly one-third of the more than three trillion U.S. annual health care costs.
Virt’s approach offers an answer to our nation’s metabolic crisis. In peer-reviewed clinical studies, 94% of patients using insulin reduced or eliminated the dose within one year, and 63% of all diabetes prescriptions were eliminated. Drug reduction occurs concurrently with an average drop in HbA1c (a blood sugar measure) of 1.3% – a figure that is rival to drug therapy. Virtia’s weight loss results exceed the goals of the National Diabetes Prevention Program and the FDA reference value for weight loss drugs by almost 150%. For health insurance, these improvements can carry over to gross savings of about $ 5,000 per patient per year.
Most importantly, this investment will accelerate efforts to make diabetes reversal available to most of the 30 million Americans battling type 2 diabetes, including:
– Donnie, who eliminated two types of insulin, lost 20 pounds and improved his A1c from 11% to 6% in just 4 months
– Abbie, who lost 45 kilograms, eliminated injectable drugs, improved her A1c by 5 points, and even after a year at Virta continues to record improvement
– Mario, who moved his A1c from 11.6% to 5.1% and lost 6 pounds in 6 months, and has the energy and mobility to play basketball with his daughter again
– Lori, who escaped expensive bariatric surgery after the discovery of Virta, and is no longer on medication for diabetes or multiple sclerosis. She also lost over 70 pounds
– Greg, who no longer needs Novolog or metformin, improved his triglycerides from 500 mg / dl to 129 mg / dL and returned to his love of hiking and long walks
– Chris, who in just 7 months no longer needs metformin or blood pressure medication, has normal drug-free blood sugar, has lost 85 pounds and has seen pain in his arms disappear