Gem Health raises $5M for sleep apnea biz 

MINNEAPOLIS – Gem Specialty Health, whose first offering, GEM SLEEP, provides an end-to-end solution for obstructive sleep apnea, has raised $5 million. The seed financing round, led by HealthTrend Capital, with participation from existing investor Base10 Partners and new investor Mairs & Power Venture Capital, will allow the company to expand payment options by offering insurance coverage through more local and national health plans, making convenient care affordable to millions. “We started in obstructive sleep apnea because we witnessed firsthand the tradeoff many patients were making with regards to their care – trying to decide if they should go to traditional providers and wait 3-4 months for care or try an online option that does not accept insurance and may not have clinical rigor," said Brian Sauer, founder and CEO, GEM HEALTH. "Millions of patients just give up and continue to live with OSA. Patients do not want to have to choose between convenient, clinically sound, and insurance-covered. They want all those things in a single experience. We are proud to say that GEM has built this model and will be rapidly scaling it with the support of our latest investment." Gem Health says GEM SLEEP offers a comprehensive digital solution for diagnosing, treating and supporting patients with sleep apnea. The company says 70% of its patients continue with their treatment beyond 30 days compared to the national average of 40% to 50%. In conjunction with the financing, HealthTrend Capital's Managing Partner, Bill Brinkman, and Sam Meckey, CEO of UpHealth, joined GEM HEALTH's board of directors.