Virta Health is a specialized online clinic that deals with the treatment of type 2 diabetes without risks to the patient's health, as well as without health side effects after taking medications during treatment. The company has developed an innovative approach based on nutritional therapy and modern technology. In working with a patient, the company uses medical equipment and devices to track the health of patients in real time. Virta delivers unprecedented 24/7 medical support through its digital platform of end-to-end remote care.
The clinical experience of Virta Health allows not only to effectively manage diabetes, but to completely treat this disease. Virta Health doctors monitor nutrition without calorie restriction, while the patient does not need to resort to physical activity, but they are welcome. Nutritional therapy normalizes blood sugar levels, which in turn gradually reduces the need to take medication. After completing a specialized course, medications are not needed at all, and the patient begins to live a full life. Virta Health does not use surgical treatments for diabetes.
According to Virta Health, almost 60% of patients were able to cure diabetes in 1 calendar year, and 94% of patients using insulin reduced their dosage or completely stopped using it. Clinical trials have confirmed that over the course of treatment, patients have recorded significant and sustained improvements in other comorbidities, including blood pressure, inflammation, cardiovascular disease, insulin resistance, and metabolic slowdown. Virta's weight loss results exceed the National Diabetes Program guidelines by an impressive 150%.
With significant advances in type 2 diabetes and the competitive cost of treatment, Virta is capturing growing demand for its services from major employers, healthcare plans and government agencies. Organizations are looking to add diabetes care solutions to their benefit portfolios, resulting in Virta's annual growth rate of nearly 200%. Virta currently works with over 100 organizations and treats patients in all 50 US states.
Nearly half of the US adult population has type 2 diabetes or prediabetes. Despite trillions of dollars spent on diabetes over the past decade, there has been no national improvement in the United States. The COVID-19 pandemic made the situation even worse. People with diabetes are at high risk of provoking a more severe illness from COVID-19, and the risk of dying from this disease is twice that of people without diabetes. Virta Health's mission is to cure Type 2 diabetes in 100 million people by 2025.
During the Series E investment round in April this year, Virta Health was able to raise $ 134 million, almost doubling its capitalization to $ 2.1 billion from December last year. The company intends to use the raised funds to finance innovative research and attract resources to meet the increased demand from the corporate sector and government agencies. Starting in July 2016, the company was able to raise $ 364 million in eight investment rounds. Major investors include Tiger Global Management, Sequoia Capital Global Equities, Caffeinated Capital, and Venrock.