Nourish secures $100M

Featured Story

Nourish Secures $100M for Metabolic Health Clinic

The news
Nourish, a metabolic health clinic, announced Tuesday that it raised $100 million in Series C funding, which will help grow its clinical network.

The company
New York City-based Nourish has more than 10,000 registered dietitians on its platform. It connects patients with a chronic condition with a dietitian, who they meet with virtually. They receive a care plan that may include lab testing, GLP-1 prescribing and medication management. Patients also have an AI health agent that helps coordinate care and supports behavior change.

The funding
The Series C round was led by Menlo Ventures, with participation from Thrive Capital, Index Ventures, J.P. Morgan Growth Equity Partners, Maverick Ventures, Y Combinator, BoxGroup, Atomico, Daybreak and Operator Partners. In total, Nourish has raised $215 million.

With the financing, Nourish will expand its clinical network, invest in AI agents and grow its metabolic clinic care model, according to Aidan Dewar, co-founder and CEO of Nourish. It will also deepen partnerships with health plans, health systems, employers and providers.

— By Marissa Plescia

How User-Generated Content is Transforming Pharma Insights

Presented by LiveWorld

This report explores how pharmaceutical companies can move beyond viewing user-generated content (UGC)—such as social media comments from patients, caregivers, and healthcare providers—solely as a regulatory risk. Instead, it explains how to transform these moderated conversations into an insight pipeline to address misinformation, track sentiment shifts, and better inform future education and content strategies. Learn more.

New Investment Firm Launches: Meet Fountain Health Partners

New firm just dropped
Fountain Health Partners launched on Tuesday with support from Nueterra Capital. The investment firm, based in Boston and Kansas City, is seeking to help startups navigate the jump from product validation to true commercial scale.

It was co-founded by Joey Campanelli, a former executive at Shields Health Solutions — which was acquired by Walgreens in 2022 — and Jack Euston, a healthcare investment banker with more than a decade of experience in M&A, including eight years in leadership roles at Citizens Capital Markets.

Portfolio companies
Campanelli said Fountain wants to invest in six to eight startups over the next few years. The firm is looking for companies that are past their proof-of-concept phase and are generating steady revenue.

Most of Fountain’s investments will be in startups that are approaching or already at profitability, with a clear three- to five-year path to a strategic exit, Campanelli noted. These companies will likely span the categories of workforce solutions, automation, care coordination, member engagement, risk and compliance and new care delivery models, he added.

A market that needs more attention
In Campanelli’s eyes, the type of startups that Fountain is zeroing in on — tech-enabled healthcare service companies at the inflection between validation and commercial scale — are genuinely underserved.

For one, most healthcare investors have never actually operated inside a health system, a payer or specialty pharmacy — instead coming from the finance, consulting or technology world, he noted. And the market has shifted away from healthcare services companies, with more and more dollars flowing to AI-first platform bets. This means services businesses haven’t been as popular among investors recently.

“Services businesses with real revenue, real customers and a clear path to profitability are getting less attention than they deserve, even though they are often the companies actually solving the problems that health systems and payers are willing to pay for,” Campanelli said.

— By Katie Adams

Disappointing Trial Results in a Disease That Kills Babies

The news
BioMarin Pharmaceutical reported its drug BMN 401 met only one of two main goals of its Phase 3 test in ENPP1 deficiency, a rare inherited enzyme deficiency with no FDA-approved therapies. These preliminary results raise questions about the regulatory path forward for this therapy.

The drug
In ENPP1 deficiency, calcium builds up in blood vessels leading to cardiovascular problems that often become fatal before a baby’s first birthday. The disorder also leads to weak bones. BMN 401 is a fusion protein intended to lead to higher levels of an enzyme that prevents calcification in tissues. This drug came from BioMarin’s acquisition of Inozyme Pharma last year.

Why this matters
In addition to missing one of two main trial goals, the results also show the drug did not meet secondary goals assessing clinical benefit. While the lack of any approved ENPP1 deficiency treatment options leaves an unmet medical need, this BioMarin therapy might not be doing enough to help patients with this rare disease. BioMarin does have other rare disease drugs to support its growth goals. Late last year, it struck a deal to buy commercial-stage Amicus Therapeutics.

Soundbite
“While ENPP1 deficiency remains a high unmet need indication and new treatment options are needed, we are cautious on the regulatory path forward at this point,” Leerink Partners analyst Joseph Schwartz said. “The company also stated that they are evaluating data to determine next steps. We look forward to detailed results from the study at an upcoming medical meeting which may provide more confidence in a path forward for the program.”

—By Frank Vinluan

Healthcare Doesn’t Need More Companies Managing Unnecessary Costs – It Needs a System Designed to Eliminate Them

The problem
For decades, the U.S. healthcare system has relied on layers of gatekeepers to control medical spending. Intermediaries sit between patients, providers, and payers, overseeing processes such as utilization management, prior authorization requirements, network restrictions, payment integrity, and out-of-network claims repricing. Most of these mechanisms review, challenge, or renegotiate costs after care is delivered; others, such as UM and prior authorization, act before the care is delivered.

However, many vendors in this space claim they can lower costs using a percentage-of-savings model, where they’re paid based on how much they reduce a medical bill. While this sounds like it aligns incentives, in reality, it often benefits the vendor far more than the providers, payers, employers, or patients. Some intermediaries take 15–30% of the “savings” as their fee, distorting how costs are measured and managed.

Why it matters
We can no longer afford to prioritize transactional wins at the expense of patients. In 2024, the United States spent roughly $5.3 trillion on healthcare, and reports now show that Americans worry more about paying for healthcare than any other expense, a stark signal that, despite constant “savings” being reported, nobody is actually seeing the benefit. When vendors earn more as underlying costs rise, meaningful cost reduction becomes structurally difficult. This approach leaves employers and insurance companies trapped in a vicious cycle in which higher costs are celebrated by their vendor partners.

Rethinking how the claims ecosystem is structured
AI makes this operationally feasible by automating the out-of-network repricing process start to finish, allowing payers to achieve the same cost-control outcomes as legacy vendors but at a far lower cost and with far less complexity. Instead of taking a percentage of the savings generated from negotiated bills, innovative companies in the space are focusing on redesigning incentives and realigning the economics, helping improve payer margins. This allows employers and health plans to pay a fixed subscription fee to automate claims intake, editing, repricing, negotiations, and settlement.

— By MedCity Influencer Navin Nagiah

Video

Video: What Is Muse Capital Bullish On?

Listen to Rachel Springate, General Partner at Muse Capital, explain why she is bullish on women's health.

In Other News

Everyone's Betting on AI to Solve the Physician Shortage —They're Solving the Wrong Problem

This isn’t a supply problem. It’s a distribution problem. The physicians exist. The system just isn’t getting them where they need to be.

A dynamic 3D illustration featuring a long, curved arrow with focus circles along its path, each marked with a check signifying approval and progress. On both sides of the arrow are 3D mechanical gears, also containing check marks at their centers. This design symbolizes process flow, efficiency, and successful task completion. The interconnection of the arrow and gears visually conveys the seamless interaction and synchronization of components in a workflow. Ideal for concepts such as project management, quality assurance, and operational excellence, the design's modern aesthetic and bold 3D elements make it visually compelling and informative.

Reducing Admin Waste in Women’s Health: The Financial Case for Upstream Workflows

Capital is flowing into the broader women’s health ecosystem at a pace we have not seen before. The practices that will capture value from that momentum are the ones that get their operational house in order now.

Guide

7 Questions That Separate Great Medical Software from Costly Risks

Choosing medical software impacts everything from patient care to compliance. This guide outlines the critical questions to ask so you can evaluate vendors with confidence and avoid costly mistakes.

View Now

Breaking News

Nourish secures $100M