What You Should Know:
– Bardavon Health Innovations, a Workers’ Compensation and musculoskeletal (MSK) health company, today announced a Series C funding of $90 million led by investor Matrix Capital Management, a public and private investment firm, joined by WestCap, a growth equity firm.
– Bardavon, a privately held, Kansas City-based digital health partner, connects all stakeholders to better manage MSK injuries and health. Its prospective and proactive method combines digital health technology with differentiated clinical physical rehabilitation services. The company currently has over 220 employees.
Bardavon will use the investment to accelerate go to market activities, expand capabilities, and introduce new offerings and services to all payer classes.
– Bardavon has capitalized on early growth since its inception in 2014, gaining market traction and experiencing 70% revenue growth during the past year. The company has achieved 90% national physical therapy network coverage across 50 states. They continue to streamline technologies and partner with marquee clients as part of its ongoing expansion into the MSK commercial health industry. For their Workers’ Compensation book of business, Bardavon has reduced the cost per claim for first year employees by 83%, reduced the number of physical therapy visits by 21%, and achieved a 49% reduction in total spend.