The U.S. healthcare system often leaves patients frustrated with long wait times, limited access to specialists, and complex, opaque pricing structures when seeking urgent or emergency care. Traditional urgent care centers frequently lack expert care capabilities, while emergency rooms, though staffed with skilled practitioners, are notorious for their extensive waiting periods and inconsistent quality of care. Sollis Health is the first and only 24/7 urgent and emergency concierge care provider, offering members unlimited access to their network of world-class ER-trained physicians and specialists, along with advanced diagnostic capabilities on par with hospital emergency rooms. With over 17,000 members across locations in New York, the Hamptons, Los Angeles, San Francisco, and South Florida, the company has tripled its membership since 2021. The membership starts at $3,500 per year and provides immediate, personalized care that eliminates wait times and streamlines access to top medical professionals, effectively bridging the gap between conventional urgent care and emergency room services.
AlleyWatch caught up with Sollis Health CEO Brad Olson to learn more about the business, the company’s strategic plans, latest round of funding, which brings the company’s total funding raised to $80.4M, and much, much more…
Who were your investors and how much did you raise?
$33M Series B round. The round was led by Foresite Capital with participation from Torch Capital, Montage Ventures, Friedom Partners, Read Capital, and One Eight Capital, among others
Tell us about the product or service that Sollis Health offers.
As the first and only urgent and emergency concierge care provider – available 24/7, 365 days a year in-person or via telehealth – Sollis Health offers an innovative membership model that eliminates wait times and the complexities often associated with conventional healthcare. The brand works to expedite patients’ paths to treatment with unlimited access to their network of world-class ER-trained physicians and leading specialists, plus onsite advanced imaging and diagnostic capability (on par with a hospital ER). Sollis Health has centers in New York, the Hamptons, Los Angeles, San Francisco, and South Florida, offering members peace of mind through any and every medical concern.
What inspired the start of Sollis Health?
As demand for alternatives to frustrating urgent care and emergency services grows, Sollis Health offers a membership model that eliminates wait times and offers solutions to conventional healthcare complexities like pricing transparency and limited access to providers.
How is Sollis Health different?
Sollis Health is the first concierge medicine provider to offer on-demand, in-person and telehealth care around the clock, 365 days a year. With a network of 2,000+ world-class physicians and specialists that expedite the path to treatment plus onsite advanced imaging and diagnostic capability on par with a hospital ER, the brand integrates seamless, high-quality, and comprehensive care for individuals and families alike.
Sollis Health’s new Family memberships fill the gaps left by the traditional healthcare model with additional benefits that include premium allergen testing services, complimentary house calls, and even access to concierge pediatrics for members in Southern California. Sollis Health’s 24/7 concierge support to resolve any health issue is redefining care for both emergency and everyday situations.
What market does Sollis Health target and how big is it?
Sollis Health has state-of-the-art centers in New York, the Hamptons, Los Angeles, San Francisco, and South Florida. Since Sollis raised its Series A round in 2021, the company has grown its membership by over 3x and is now in a unique position to expand its portfolio of services to meet the needs of new and existing customer segments in even more markets. This funding will be used to scale operations nationwide to meet growing demand for 24/7 concierge partnership towards the resolution of any urgent or emergency issue. Funding from this round of investment will allow Sollis Health to build proprietary technology that enhances its high touch member experience, as well as expand its footprint – with a new flagship in Texas, as well as new centers in Miami and Silicon Valley – and to further cement its position as the premier destination for on-demand medical care.
What’s your business model?
Sollis Health is a membership-based concierge medicine provider, the first to offer its members 24/7 access to ER-level diagnostics and capabilities with an emphasis on preventive care. Membership plans start at $3500/year and members can select from any of three tailored packages: Sollis Standard, Sollis Family, and Sollis Family+, which includes access to concierge pediatrics (currently exclusive to Los Angeles members).
How are you preparing for a potential economic slowdown?
Urgent cares offer convenience but often lack expert care (referring over 50% of cases out to the ER) while ERs, which offer expert practitioners, are often stifled by unbearable wait times. People want more convenient care – in fact, during the last economic downturn, spend on concierge healthcare continued to grow. As consumers allocate more of their dollars to out of pocket healthcare, Sollis’ model bridges this gap and fits in many markets across the US.
What was the funding process like?
Sollis’ $33 million Series B funding round was led by Foresite Capital with participation from Torch Capital, Montage Ventures, Friedom Partners, Read Capital, and One Eight Capital, among others.
What are the biggest challenges that you faced while raising capital?
Like any creator of a brand new category – in our case, concierge urgent and emergency care – we faced the challenge of explaining Sollis Health and its unique offering at the intersection of healthcare and consumer services. That said, a broad variety of funds from both areas recognized our product-market fit and wanted to invest in our growth.
What factors about your business led your investors to write the check?
Sollis Health serves over 17,000 members nationally amid a rise in demand for empathic, high-touch healthcare. Since raising its Series A round in 2021, the company has grown its membership by over 3x and is now in a unique position to expand its portfolio of services to meet the needs of new and existing customer segments in even more markets. Our investors share our belief that healthcare should be immediate, accessible, and truly supportive and want to help build a healthier future together.
What are the milestones you plan to achieve in the next six months?
Funding from this round of investment will help Sollis Health continue to innovate on its core offering after earlier this year rolling out a Family membership tier nationwide and a Family+ membership in Los Angeles (which includes concierge pediatrics alongside the core urgent and emergency care offering).
This investment will also allow Sollis to build proprietary technology that enhances its high touch member experience, as well as expand its footprint – with a new flagship in Texas, as well as new centers in Miami and Silicon Valley – and to further cement its position as the premier destination for on-demand medical care.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Take every meeting! Some of the investors that emerged in this round weren’t necessarily an obvious fit on paper, but ended up having a strong personal connection to our mission to transform and elevate healthcare and invested to support our continued growth.
Where do you see the company going now over the near term?
This Series B investment will accelerate Sollis Health’s mission to provide unparalleled personalized care through product and service innovations, while expanding access to new markets to meet increasing demand across the U.S.
What’s your favorite fall destination in and around the city?
Sollis Health’s Fifth Avenue Center at 945 Fifth Avenue.
