Roseville, CA – DCA Capital Partners (“DCA”) is proud to announce a Series A equity funding of EvinceMed, a healthcare technology company that provides software-as-a-service.
EvinceMed streamlines and automates the specialty medication prescription process for providers, specialty pharmacies, HUBs, PBMs, and health plans. “The platform reduces the approval time, costs, and abandoned prescriptions, while increasing fill rates and patient adherence of specialty medications,” according to David Jackson, CEO of EvinceMed. “It can take days or weeks to obtain a prior authorization from a Pharmacy Benefit Manager or Health Plan. As many as 40 percent of these specialty prescriptions are abandoned due to the antiquated approval requirements; meaning, the patient doesn’t receive the specialty medication that their provider deemed necessary to treat their disease state. EvinceMed’s proprietary technologies and data networks significantly reduce the time, cost, and burden associated with the approval of specialty medications that treat complex and chronic conditions, including cancer, chronic kidney failure, multiple sclerosis, organ transplants, and rheumatoid arthritis to patients.”
“EvinceMed is solving a major pain point in a large market that is underutilizing technology,” remarked Steve Mills, Partner at DCA Capital Partners. DCA is committed to investing in high-performing businesses seeking strategic and operational growth. “EvinceMed’s track record of quickly acquiring and onboarding new customers has resulted in compelling growth,” said Mills. “We’re looking forward to a mutually beneficial partnership that ultimately allows EvinceMed to further disrupt the healthcare industry.”
About DCA Capital Partners
Based in Sacramento, DCA Capital Partners provides expansion capital to growth-oriented, middle-market businesses across California and the Southwest. The Fund provides promising companies with the additional capital and expertise needed to successfully expand and extend their businesses.
About EvinceMed Corp.
EvinceMed automates administrative healthcare transactions for specialty medications and durable medical equipment. Through their eHub platform, EvinceMed solves the issues associated with prescription-related transactions for patients, physicians, pharmacies, hubs, health plans, PBMs, and manufactures and facilitates the transition from costly manual processes to real-time, electronic transactions. EvinceMed was founded in 2015 in Las Vegas, Nevada.
Steve Mills, Partner
DCA Capital Partners