Virtual visit provider attracts $14.5 million in funding
September 25, 2019
TORONTO – Maple, a Canadian telemedicine platform that connects patients and healthcare providers 24/7 and 365 days a year, has raised $14.5 million between an oversubscribed funding round and an investment from the Royal Bank of Canada (RBC) earlier in the year. This latest round was led by growth VC investor Acton Capital from Munich and supported by Canada’s leading diversified home health institution, SE Health.
This follows a year of rapid growth in which the company’s customer base surpassed 400,000 Canadians across its business and consumer platforms alone.
With over 400 physicians providing care through the platform, Maple calls itself the largest national network of Canadian doctors on a single telemedicine platform. According to the company, physicians are empowered to provide care on their own schedule – be it on days off or between shifts – adding physician capacity to Canada’s healthcare system.
“We’ve always made the conscious decision to put Canada first in every service we develop,” says Dr. Brett Belchetz (pictured), co-founder and CEO of Maple. “As we move forward, we’ll use this new investment to build strategic solutions to improve Canadian healthcare. We’re creating a fully connected experience – one where anyone can access care in minutes whenever they need it and receive true continuity of care between providers.”
The company’s ambitious goals will see its Toronto headquarters triple in size over the next 24 months as telemedicine becomes more widely accepted in Canada’s healthcare market.
The expansion was driven by demand for Maple’s services as well as large-scale partnerships with employers, insurers, governments, and hospitals.
Canadians’ growing appetite for technology that saves time and makes healthcare more accessible was showcased in a recent poll by the Canadian Medical Association, in which three-quarters of survey respondents said that virtual care would improve access and lead to more timely treatment.
“For millions of patients in Canada, Maple will enable direct and easy access to specialists or primary care,” said Dr. Hannes Blum, venture partner North America at Acton Capital. “Thanks to its superior quality support and a fast-growing network of experienced and dedicated physicians all over the country, Maple is improving professional healthcare coverage even in remote areas.”
Maple’s growing roster of corporate partners includes some of Canada’s largest benefits and insurance providers, including Morneau Shepell and ENCON Group Inc., as well as employers such as pharmaceutical giant GlaxoSmithKline, which includes Maple in employee benefits programs.
Traditional healthcare institutions have also been added to Maple’s expanding roster of clients with the launch of Canada’s first tele-hospitalist platform. Designed to allow physicians to remotely staff hospitals, Maple’s system has been keeping the doors open at PEI’s Western Hospital for over a year.
The platform also includes ER diversion capabilities and a stand-alone messaging and video communication system, which can expedite everyday hospital procedures like discharge planning to address Canada’s hallway medicine epidemic.
This work with hospitals and other healthcare systems will increase in the coming year as SE Health, one of the largest home health institutions in Canada, comes on as a supporter.
Through this new strategic partnership, the healthcare trailblazer and Maple will develop innovative programs, enhancing the delivery of home care in Canada and around the globe. Through the use of integrated telemedicine solutions, the partnership will deliver better care, more efficient use of precious healthcare resources, and improved patient outcomes.
“We’re thrilled to be working with Maple to expand access to virtual health experiences in a timely and efficient way, offering meaningful benefits to patients and their families,” says Shirlee Sharkey, CEO of SE Health. “With the growing demand for connected care, we’re excited to introduce this preeminent telemedicine platform to our network of hospital and community partners as we look to create impactful new models.”
In addition to expanding Maple’s hospital and home care arms, this investment will further strengthen Maple’s substantial user-facing platform, which provides online access to primary care and specialties like dermatology, psychotherapy, and lactation consulting.
Maple is a technology platform that tackles some of the world’s most meaningful issues in healthcare, starting with timely and convenient access to doctors and other healthcare providers. It allows patients to connect directly with doctors for medical care in minutes from their smartphone or computer 24/7, and also provides custom technology solutions for hospitals and clinics seeking to advance their delivery of care. Learn more at getmaple.ca.
About SE Health
SE Health is a not-for-profit social enterprise applying knowledge, vision and drive to forever impact how people live and age at home, today and into the future. With Canadian roots and 110 years of expertise, the organization brings quality excellence and innovation to home care, seniors’ lifestyle, and family caregiving. Through its team of 9,000 leaders and professionals, SE Health delivers 20,000 care exchanges daily, totaling 50 million in the last decade alone. Visit us online at sehc.com.