What You Should Know:
– Bicycle Health, the nation’s largest provider of virtual opioid use disorder (OUD) treatment, today announced a $16.5 million funding round led by Questa Capital, with participation from all existing and new investor JSL Health.
– The investment comes on the heels of Bicycle Health achieving operating profitability in 2024, demonstrating the company’s commitment to sustainable growth while addressing the ongoing opioid epidemic.
Addressing a Critical Public Health Crisis
The opioid epidemic remains a significant public health challenge in the United States. Bicycle Health is committed to leading in addressing this crisis by providing accessible, affordable, and effective OUD treatment.
Bicycle Health has developed a clinically proven virtual care model that has helped over 40,000 patients across 49 states. The company works with all major payers in the U.S. to provide accessible and affordable OUD treatment.
Expanding Access to Care
Bicycle Health will use this new funding to:
- Partner with more payers and health systems: Increase access to care by collaborating with a wider range of healthcare organizations.
- Hire more addiction medicine specialists: Expand its team of qualified clinicians to meet the growing demand for OUD treatment.
- Expand offerings for high-risk populations: Develop specialized programs for vulnerable populations, such as incarcerated individuals.
- Build new technology: Enhance its OUD treatment platform with innovative tools and features.
Executive Team Additions
Bicycle Health has also expanded its executive team with the addition of Manu Kuppalli as Chief Financial Officer and Andy Thomas as Chief Operating Officer.
- Manu Kuppalli: Brings over a decade of experience in healthcare finance, including managing mergers and acquisitions, leading growth initiatives, and working in investment banking.
- Andy Thomas: Brings nearly 15 years of experience in healthcare and behavioral health, with expertise in building care models for patients with complex conditions.
“Our mission has always been to help as many people as possible access the treatment they need to achieve long-term recovery,” said Ankit Gupta, founder and CEO of Bicycle Health. “Millions of people struggle with opioid use disorder and tens of thousands of people die from opioid use every year. Our virtual care model is proven to keep patients in treatment longer, reduce overdose rates, and improve access to treatment for people who need it. We’re grateful to continue to provide lifesaving care to patients across the country, and plan to expand to more patients and families who need support in 2025.”
