Hospital for Special Surgery (HSS) announces a $21M Series A to launch RightMove Powered by HSS, whose mission is to make high quality, patient-focused virtual musculoskeletal physical therapy available to all Americans. The round, led by Flare Capital and HSS, will be used to build out RightMove’s technology platform and create a nationwide network of specialty-trained physical therapists. RightMove expects to be live and treating patients in late Q2 2023.
RightMove addresses a critical need as half of all U.S. adults experience MSK-related issues leading to an annual national health expenditure of over $380 billion USD and rising. Access to high-quality physical therapy has been shown to reduce unnecessary surgeries, injections, emergency room visits, and imaging – resulting in better outcomes at a lower cost for patients, employers and payors.
Amy Fahrenkopf, MD, senior vice president of HSS and president of HSS Health, has been appointed interim CEO of RightMove while an executive search is underway. “We believe RightMove can address an unmet need in the market by being a true value-based partner to health plans and employers through our proven care model, use of specialty trained physical therapists and unparalleled experience providing telerehabilitation,” says Dr. Fahrenkopf.
“RightMove is a milestone opportunity for people and businesses everywhere to make the vital first step in treating orthopedic conditions with the benefit of 159 years of specialized expertise,” said Louis A. Shapiro, president and CEO at HSS, “Flare Capital is a great partner to help scale the impact of HSS’ unique knowledge and capabilities.”
“RightMove is addressing one of the biggest challenges in healthcare right now, and it is doing so with a truly differentiated offering,” said Michael Greeley, co-founder and general partner, Flare Capital Partners. “The amount of money spent on musculoskeletal care every year is staggering and there is urgency in the market to find meaningful solutions for employers and payers. We were drawn to the unique opportunity to partner with the global leader in musculoskeletal care, to quickly scale a company that cares deeply about both clinical quality and value for its customers.”
[Source(s): Hospital for Special Surgery, PR Newswire]
