Mevo Secures $19 Million in Series B Funding to Transform Healthcare

Mevo Secures Significant Funding to Innovate Prescription Accessibility

Matrix Partner TJ Parker, co-founder and CEO of PillPack, will join the board.

Mevo, an innovative digital prescription platform, has announced the successful raising of $19 million in a new venture funding round. This endeavor promises to enhance healthcare accessibility in Brazil, allowing individuals easier access to their prescriptions and necessary medications. The investment, led by Matrix Partners, includes participation from Jefferson River Capital and other notable investors, such as Elliot Cohen, former leader at Amazon Pharmacy. With this funding, Mevo aims to build upon its success in providing more streamlined services to patients.

Transforming Healthcare Experience with Digital Solutions

Before Mevo's introduction, the prescription process in Brazil was predominantly manual and paper-based, resulting in numerous challenges, including unfilled prescriptions and unsatisfactory health outcomes. With Mevo's technology, healthcare providers can issue digital prescriptions, which patients can seamlessly utilize at any pharmacy of their choice, including Mevo's own pharmacy marketplace. As a result, over 10 million patients have already benefited from Mevo’s services.

How Mevo Works

Once a customer acquires a Mevo e-prescription, they can complete their purchases with just a few clicks, receiving their medications in approximately 60 minutes from selected pharmacy partners, or they can directly shop from their preferred local pharmacy. This user-friendly approach is set up to promote better medication adherence and an improved overall patient experience. Mevo has successfully integrated with numerous healthcare providers and telemedicine systems, boasting over 250 partnerships throughout the country.

Plans for Future Growth and Development

Mevo has established clear plans for utilizing this new round of funding, which include:

• Expanding partnerships with healthcare providers.
• Enhancing their digital prescription platform further.
• Exploring additional healthcare services that extend beyond just prescription fulfillment.

Pedro Dias, CEO, and co-founder of Mevo expressed, "This investment allows us to enhance our offerings and continue improving the customer experience. Our mission is to make healthcare access a reality for millions through their mobile devices." The strong progress made by the Mevo team positions them to capture significant opportunities within the healthcare space.

Community Impact and Healthcare Accessibility

Mevo addresses an urgent need in the Brazilian healthcare landscape: modernizing the current system that relies on traditional prescriptions. With more than 150 million Brazilians dependent on handwritten prescriptions, Mevo’s advancements can lead to improved health outcomes. The platform enables patients to conveniently search for and order their prescribed medications, fostering better compliance with their treatment protocols.

Benefits for Healthcare Professionals and Providers

Mevo’s solutions provide essential support to healthcare providers by significantly reducing paper-based bureaucracy and minimizing errors in prescription handling. A recent study highlighted that during one year of using Mevo, physicians reported a decrease in harmful drug interactions by 33%. The integration of digital prescription data offers real-time insights for hospitals and clinics, enhancing patient care and service quality.

About Mevo

Founded in 2017, Mevo aims to be the backbone of e-prescriptions in Brazil. Their commitment lies in bettering the experience of patients, healthcare professionals, and providers alike. The company envisions a future where healthcare management can be efficiently conducted directly from mobile devices, ensuring security and user-friendliness. The ongoing journey represents a significant leap toward transforming Brazil's healthcare landscape.

Frequently Asked Questions

What is Mevo?

Mevo is a leading digital prescription platform in Brazil that allows patients to manage prescriptions and medications via a mobile application.

How much funding did Mevo raise?

Mevo raised $19 million in its latest Series B funding round to enhance its digital prescription services.

Who led the recent funding round for Mevo?

The recent funding round was led by Matrix Partners, with participation from several notable investors.

What are Mevo's goals with the funding?

Mevo plans to expand partnerships, enhance their platform, and explore additional healthcare services with the new funding.

How does Mevo improve the prescription process?

Mevo permits healthcare providers to issue digital prescriptions, streamlining the process for patients and improving medication adherence.

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