Sources: Grand Rounds Is Raising At Around A $750M Valuation

Sources are telling TechCrunch that Grand Rounds, which sells companies a service that gives employees access to healthcare advice and treatment from experienced professionals around the United States regardless of where they live, is valued at around $750 million as part of a new financing round.

Grand Rounds works with companies to add an extra layer to their health benefits that enables them to contact professionals that have the best experience with specific health issues. This new valuation would mean the company is not far from unicorn status, but, as usual, the terms of the deal could change.

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For example, once an employee files a case — such as when a patient seeks a second opinion for a hip surgery — they’re assigned individuals to track the case and handle records, as well as a staff physician from Grand Rounds. Employees can talk to those physicians to get as much information as they want before they make a decision. Employers have access to a number of tiers of the service based on their needs, which can include the expert consultations, office visits and emergency consultations.

In many areas of the U.S., the best health care professionals to handle certain situations aren’t available. They’re instead in places like San Francisco, New York, Boston or other metropolitan cities with research universities and the best hospitals in the world. Getting access to the best physicians can cost a small fortune, which is something Grand Rounds seeks to bring to a wider audience that can’t otherwise afford the best treatment.

Grand Rounds will recommend to patients a physician in the area that is best qualified to handle a condition. If that patient wants a second opinion, they can get one from an expert within the Grand Rounds network. And patients can also tap into the Grand Rounds network right away in emergency situations.

Taken together, Grand Rounds positions itself more as a healthcare company than simply a technology company. The company raised $40 million last year led by Greylock Partners. With that round, the company had raised more than $100 million.