Key Highlights
- Proximity launches with $3M in Seed funding led by LRVHealth, with participation from Commonweal Ventures.
- Proven to increase 340B program value by an average of 20% through intelligent automation and centralized program management.
- SIHF Healthcare recovered over $2M in 11 months, achieving a 15% revenue increase.
- Josh Flum of LRVHealth joins Proximity’s board of directors as part of the funding round.
- Proximity will showcase its platform at the 340B Coalition Winter Conference (Feb 24-26, 2025, San Diego).
Source: Business Wire
Notable Quotes
- “Our mission is to help keep healthcare in reach of all who need it. Without 340B revenue, essential healthcare providers would have to cut services or even close. We founded Proximity to ensure that doesn’t happen.” — Scott Johnsen, Founder & CEO at Proximity
- “Proximity takes away an enormous portion of the administrative burden of running our 340B program while ensuring we don’t miss any savings. It quickly became critical to our operations.” — Sherria Morris, Director of Pharmacy Programs at SIHF Healthcare
- “With their deep domain expertise and product development experience, Scott and his team are building a unique technology-driven solution for 340B program optimization, reporting, compliance, and discount tracking.” — Josh Flum, Managing Partner at LRVHealth
Why This Matters
The federal 340B drug pricing program is essential for healthcare providers serving low-income and vulnerable patients, yet managing compliance and maximizing savings is complex. Proximity’s intelligent automation technology simplifies 340B administration, ensuring healthcare providers recover all eligible revenue—helping them sustain essential services. With new funding and proven success, Proximity is poised to transform 340B program management, ensuring financial stability for safety-net providers.
