< + > TailorMed Secures $40 Million to Expand the Largest Affordability Network into an End-to-End Platform, Transforming Patient Access to Care Nationwide

The Funding, led by Windham Capital Partners, will Further Fuel TailorMed’s Mission to Eliminate Barriers to Care for Millions of Patients

Today, TailorMed, a leading innovator in healthcare technology, announced a $40 million financing round combining equity and debt. This investment positions the company to advance its bold vision of transforming medication access, adherence, and affordability across the United States. Windham Capital Partners led the round, alongside Citi Impact Fund, Samsung Next, BrightEdge, and the investment arms of some of the nation’s top health systems: Providence Ventures, OSF Healthcare, Inception Health, Ballad Ventures, UH Ventures, and UnityPoint Health Ventures. TailorMed also benefited from the continued support of its early investors: Sanara Ventures, Triventures, Accelmed, Almeda Ventures, and Bridges. The debt facility was led by Poalim-tech, part of Israel’s leading bank, Bank HaPoalim.

Today, only 55% of U.S. adults can afford the care they need, leading to delayed or skipped treatments that worsen health outcomes. Over 100 million Americans are weighed down by medical debt, which contributes to 65% of all bankruptcies. TailorMed has built the nation’s largest affordability network, uniting patients, providers, pharmacies, and life science companies to solve this critical challenge. By addressing patients’ fundamental need for affordable medication, anywhere a prescription is written or dispensed, TailorMed is uniquely positioned to unlock the full spectrum of medication access. This means supporting patients at every stage of their care journeys, whether at the doctor’s office, the pharmacy counter, an infusion center, or at home. Having reached an inflection point in its network evolution, the company is building an end-to-end platform that tackles cost barriers, access barriers, and beyond.

TailorMed’s success in solving the crucial barrier of affordability, coupled with its robust network, empowers the company to broadly address challenges along the medication continuum. Building upon its trusted relationships with providers, pharmacies, and life sciences, TailorMed will create a seamless flow of data and resources, enabling all stakeholders across the network to collaborate more effectively.

“In the past six years, we’ve built incredible momentum by empowering our network of leading health systems, pharmacies, and life science companies to drive affordability on a massive scale,” said Srulik Dvorsky, Co-Founder and CEO at TailorMed. “But we’re just getting started. This new funding will fuel our mission to break down even more barriers to care, creating a healthcare system where affordability is the standard, not the exception, and working with patients and care teams to alleviate whatever barrier comes next. We’re excited to have the backing of Windham Capital Partners and other forward-thinking investors who share our vision of transforming access to care for millions.”

“TailorMed has a history of driving transformational change to address the critical challenges in the healthcare system and our nation’s affordability crisis. We are inspired to see the company taking a bold leap forward to tackle all barriers to care,” said Adam Fine, Founder and General Partner at Windham Capital Partners. “We are proud to support TailorMed as it builds a new category in healthcare, creating meaningful improvements to patient care while also delivering real traction for healthcare organizations.” ​

“TailorMed’s platform ensures all patients can access essential treatment without delay or facing bankruptcy,” added David Kereiakes, Managing Partner at Windham. Kereiakes will retain his Board Director role at TailorMed, now representing Windham, and will be accompanied by Dan Galles, Partner at Providence Ventures.

About TailorMed

TailorMed is a comprehensive, end-to-end platform designed to eliminate barriers along the entire medication journey, from affordability to access and adherence. TailorMed is building a new category in healthcare, transforming how stakeholders—patients, providers, pharmacies, life sciences, and payers—work together to ensure that every patient, across all medical conditions, can receive the treatment they need without delay. TailorMed’s enterprise solution manages the full lifecycle of patient support programs, reducing the cost of care and driving better outcomes. Thanks to its partnerships with life sciences, TailorMed creates unparalleled automation through direct integration with manufacturer assistance programs. With the nation’s largest Affordability Network, deployed across more than 800 hospitals, 1,300 clinics, and 650 pharmacies, TailorMed powers organizations to create a seamless patient experience. Learn more at tailormed.co.

About Windham Capital Partners

Windham Capital Partners, headquartered in New York, is a growth equity investment firm working at the intersection of medical technology and digital health. The firm invests in transformative companies and teams improving clinical outcomes, expanding access to quality healthcare, and creating more efficiencies in healthcare. With deep expertise and a far-reaching network across medical devices, digital health, and life sciences, Windham partners with visionary founders and entrepreneurs to develop and elevate the standard of healthcare. Supported by a network of industry experts, including an esteemed Advisory Board of business leaders, scientists, clinicians, and fund managers, Windham Capital is dedicated to driving innovation and fostering the growth of game-changing healthtech solutions through the successes of its portfolio companies. For more information, please visit windhamcap.com.

Originally announced November 21st, 2024

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< + > ONRAD Inc. Acquires Direct Radiology in a Move That Expands Capabilities, Enhances Quality and Outcomes

Industry-Changing Deal Forms the Largest Independent Teleradiology Provider in the U.S.

ONRAD Inc., a leading radiology services company delivering remote teleradiology final-read impressions across all healthcare settings and full-service radiology solutions for hospitals, announced today the acquisition of teleradiology group Direct Radiology from Royal Philips, a global leader in health technology. The resulting unified organization creates the largest independent teleradiology provider in the United States. Financial terms of the acquisition were not disclosed.

Founded in 2012, Direct Radiology is a Joint Commission-accredited practice with approximately 80 radiologists serving more than 430 healthcare facilities nationwide.

Direct Radiology will operate as a wholly owned subsidiary of ONRAD. It will continue its customer expansion while building its radiologist team and enhancing customer value through deeper integration of teleradiology services and technology innovation in conjunction with ONRAD.

“The acquisition of Direct Radiology marks a new milestone for the future of ONRAD’s radiology services with an expanded national footprint,” said ONRAD CEO and President, David Engert. “With a shared vision of excellence, our combined organization will address the challenges of finding and attracting top-notch radiologists. The acquisition enables us to expand our capacity through operational efficiencies, deploy industry-leading AI and technologies, and capitalize on cost-effective economies of scale. This acquisition also accelerates our ability to build on the quality, depth, and experience of our world-class, board-certified, and fellowship-trained group of physicians to deliver the highest-quality services and performance in the marketplace — a standard of excellence our mutual customers have come to expect.”

ONRAD is trusted by more than 120 hospitals and large health systems, including outpatient clinics, imaging centers, and the U.S. government. Its services include traditional teleradiology services, customized full-service onsite radiology solutions, and subspecialty interpretations across all modalities. These offerings are available 24 hours a day, 365 days a year, helping customers address the skyrocketing demand for imaging services while overcoming the growing nationwide shortage of radiologists.

“We are proud of what we have built at Direct Radiology and excited about our new partnership with ONRAD,” said Leandra Hutchinson, President at Direct Radiology. “Together we look forward to leading the future of teleradiology: driving industry-leading AI and innovation, and increasing access to radiology services, all with the mission of enhancing patient outcomes.”

Direct Radiology will remain intact and operate as a subsidiary of ONRAD. Hutchinson will continue as president and report to Engert.

About ONRAD Inc.

ONRAD Inc. is a leading radiology services company, delivering remote teleradiology final read impressions and full-service radiology solutions for hospitals, radiology practices, outpatient clinics, and imaging centers. Its spectrum of services includes reading remote and onsite diagnostic studies, interventional radiology, medical directorship, analytics, peer review, billing, and quality oversight — all on the industry’s most advanced, integrated, AI-powered technology platform. ONRAD reads all modalities and has been Joint Commission accredited since its inception 19 years ago. With the acquisition of Direct Radiology, which will operate as a wholly owned subsidiary, the company now provides services to over 550 facilities across almost every U.S. state, with more than 160 board-certified radiologists performing more than 7,000 studies per day. The combined companies form the largest independent teleradiology company operating in the U.S. 

Originally announced January 7th, 2025