Aetna leads $25M financing for MAP Health Management
A company that offers support and data insights for people with substance abuse disorders aims to expand its business with $25 million in new funding.
MAP Health Management, which works with health insurance companies as well as treatment providers, says it will use the additional funds to expand its geographical base of operations and its patient enrollment strategy.
The placement of Series A preferred and common units in the company was headed by Aetna, now owned by CVS Health, and with which MAP has worked over the last four years.
MAP was founded in 2011, with a mission of improving outcomes for people diagnosed with substance abuse disorder. Toward that end, it offers a long-term support model by deploying a suite of proprietary solutions, including technology-enabled peer recovery support services, an adaptive engagement framework and outcomes reporting.
The technology and services are intended to help insurers and treatment providers improve health outcomes for individuals and reduce preventable healthcare cost.
"Aetna and MAP have built a strong collaborative relationship; (we) believe that MAP's services are effectively helping Aetna members in their recovery from alcohol and drug addiction,” says Antonio J. Rocchino, senior director of network management at Aetna. “In providing peer support to our members and their families in their behavioral health recovery journey, MAP's services support one of the core components in our work to transform behavioral health service delivery.”
Also participating in the financing round were the Levenson Family and several other private investors.