Ria Health, a US-based telehealth provider specialising in alcohol use disorder (AUD) treatment, has closed a Series B growth equity round, led by Peloton Equity.
Other participants in the financing round include existing investors BPEA Private Equity, SOSV, and SV Health Investors.
Ria Health intends to use the funds to enhance its patient-driven treatment accessibility by expanding its clinical model and payor coverage.
Also, the company plans to enhance its sales and marketing efforts to strengthen its role as a valuable partner in the AUD care continuum.
As part of the financing, Peloton Equity’s Michael O’Rourke will be appointed as a member of Ria Health’s Board of Directors.
Michael O’Rourke said: “Ria’s business model and AUD-focused clinical program produce unparalleled access to specialized, cost-effective treatment and incredible patient outcomes.
“The company has already demonstrated strong momentum on the path to transforming the AUD treatment industry, and we look forward to supporting its continued innovation and growth.”
Ria Health CEO Bill Stapleton said: “This investment represents a critical milestone for Ria as we continue to innovate and grow as a leader within AUD treatment.
“We are excited to have investor partners that share our vision for a more integrated, evidence-based, and patient-focused continuum of care for alcohol use disorder.”
Ria Health’s treatment approach combines medication-assisted treatment, behavioural therapy, and coaching, tailored to individual patient needs.
Its physician-led clinical team focuses on delivering superior patient outcomes, either through harm reduction or complete abstinence from alcohol.
The company has established partnerships with facility-based AUD providers and digital health firms, enhancing its comprehensive care offerings.
Currently, Ria Health has contracts with 15 payors and provides telehealth services across all 50 US states.
