Iora Health is looking to raise more than $100 million as it expands the reach of a new kind of medical clinic that charges a monthly fee
The company is helmed by CEO Rushika Fernandopulle, who 15 years ago had a radical idea.
"Working in the system, you have to be blind, deaf, and dumb to not realize that the system is broken," Fernandopulle,So he decided to create something new. The practice was initially called Renaissance Health and was based in Arlington, Massachusetts, outside of Boston. Since then, Fernandopulle has gone on to found Iora Health, which works with "sponsors" — mainly employers or private health plans for the elderly — that cover a monthly fee for primary care. Iora also built out care teams of nurses and other health professionals that can help the doctors within the practice.
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