October 10, 2025

Foundation Health Raises $20M Series A to Scale AI-Powered Healthcare Infrastructure

We’re thrilled to share another major milestone in our journey: Foundation Health has raised $20 million in Series A funding to accelerate our mission of transforming how healthcare organizations deliver pharmacy, care coordination, and direct-to-patient services.

Read the article: https://www.globenewswire.com/news-release/2025/10/09/3164291/0/en/Foundation-Health-Secures-20M-Series-A-to-Scale-AI-Powered-Infrastructure-for-Pharmacy-Operations-Care-Coordination-and-Direct-to-Patient-Delivery.htmlThis round was led by Define Ventures, with participation from Vanderbilt University, Intermountain Ventures, and our existing investors. It brings our total funding to $26 million since our founding in 2023 - and it’s a huge step forward in building the infrastructure that will power the next generation of connected, AI-driven healthcare.Powering the Future of Pharmacy OperationsAt Foundation Health, we’re redefining what healthcare operations look like. Our PAIGE AI pharmacist assistant automates time-intensive tasks like refill processing, adherence outreach, benefits verification, and prior authorizations - reducing manual workloads by up to 75% and freeing pharmacists to focus on what matters most: patient care.Integrated with major EHR systems like Epic, PAIGE AI helps organizations move faster, communicate better, and deliver higher-quality care with less friction.“Pharmacy’s operational backbone hasn’t evolved to meet today’s patient expectations or system-level complexity,” said Umar Afridi, Founder and CEO of Foundation Health. “We built Foundation to be a modern infrastructure layer that helps care organizations deliver high-quality care with less friction. This funding enables us to scale rapidly and serve a broader range of partners.”Backed by Leaders in Healthcare Innovation“Foundation Health is redefining what the pharmacy experience should look like in modern healthcare,” said Lynne Chou O’Keefe, Founder and Managing Partner at Define Ventures. “Their approach is comprehensive, scalable, and AI-native - and solves real pain points for both pharmacists and patients. We’re thrilled to back Umar and the team as they lead the next wave of AI-powered pharmacy operations.”Our technology is already making an impact across leading health systems:

• At Intermountain Health, Foundation Health automates specialty pharmacy communications - supporting patients with complex therapies while reducing staff workload.
• At Hackensack Meridian Health, our platform accelerates order-to-fulfillment workflows and digitizes payment and copay processes, freeing care teams to focus on patients.

“We’re thrilled to partner with Foundation Health and their amazing technology,” said Eboney Hadnott, Network Director of Ambulatory Care Pharmacy Services at Hackensack Meridian Health. “This collaboration helps us streamline administrative tasks and focus more on what truly matters - our patients.”Building the Infrastructure for What’s NextUnlike point solutions that solve one workflow at a time, Foundation Health provides a comprehensive, end-to-end platform for pharmacy and care operations. Our solution suite includes:

• PAIGE AI Pharmacist Assistant – Automating patient communication and prior authorizations
• Digital Pharmacy Platform – A white-labeled experience for onboarding, refills, and delivery
• Pharmacy Dashboard – Real-time visibility across benefits, prescriptions, orders, and logistics
• Direct-to-Patient Platform – Connecting patients directly to therapies through diagnostics, telehealth, and home delivery

What’s AheadThis new funding allows us to expand our team, accelerate product development, and continue building intelligent infrastructure that helps healthcare organizations deliver care that’s fast, connected, and patient-first.We’re just getting started - and we couldn’t be more excited about what’s ahead.

September 23, 2025

Foundation Health Brings AI-Powered Patient Communication to Intermountain Health’s Specialty Pharmacy

We’re excited to announce a new partnership that marks a big step forward in our mission to transform healthcare: Foundation Health’s PAIGE AI will soon be powering patient communication at Intermountain Health’s specialty pharmacy - serving more than 14,000 patients.Read more on Yahoo Finance: https://finance.yahoo.com/news/foundation-health-bring-ai-powered-123000118.htmlWhy This MattersIntermountain Health is a national leader in care delivery, and their specialty pharmacy team supports patients with some of the most complex conditions. By introducing PAIGE AI into their workflows, we’re helping automate the routine-but-critical tasks like:

• Patient assessment calls
• Refill reminders
• Benefits verification
• Medication onboarding

That means patients get consistent, timely communication, while care teams are freed up to focus on what they do best: delivering personalized, high-touch support.A Shared Vision for Better Care“Our partnership with Foundation Health is a pivotal step in advancing pharmacy services for patients with complex conditions,” said Mason Hilton, System Director, Pharmacy Operations at Intermountain Health. “By integrating these innovative tools, we’re closing care gaps, improving timely access to therapies, and strengthening our ability to deliver personalized care.”And for us, this is just the beginning. As our CEO and founder Umar Afridi shared:
“AI has the power to transform healthcare delivery by automating routine tasks and enabling more meaningful patient connections. PAIGE AI doesn’t replace the human touch - it amplifies it.”Looking AheadOver the next six months, this collaboration will help Intermountain’s specialty pharmacy scale operations while maintaining best-in-class care. Together, we’ll also be exploring expanded voice-enabled solutions and AI-driven prior-authorization workflows to tackle some of healthcare’s most time-intensive processes.Building What’s Next in HealthcareAt Foundation Health, we believe technology should simplify care - not complicate it. This partnership is proof of what’s possible when innovation and clinical expertise come together. We couldn’t be more excited to support Intermountain Health in advancing care for thousands of patients.

March 21, 2025

🚀 Foundation Health Secures $6M in Seed Funding to Accelerate Our Mission

We’re thrilled to share a major milestone in Foundation Health’s journey: we’ve officially closed a $6 million seed funding round! This is a huge vote of confidence in the work we’re doing—and a pivotal moment that will help propel us into our next phase of growth.Backed by Visionary InvestorsThis round includes investments from some of the most respected names in tech and healthcare, including Garry Tan (CEO of Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, and PageOne Ventures. We're also honored to have angel investors like Paul Johnson (founder and former CEO of Lemonaid Health) and Meghan Fitzgerald (Grey Ghost Advisors) joining us on this journey.Building the Future of Consumer HealthcareAs many of you know, Foundation Health exists to redefine how healthcare is delivered—making it faster, simpler, and more accessible for everyone. Our technology empowers clients to launch digital-first pharmacy and telemedicine experiences with speed and scale. We’re focused on three core pillars:

• Powerful APIs for telehealth prescribing and pharmacy workflows
• Virtual pharmacy infrastructure that simplifies the logistics
• Direct-to-consumer capabilities that let companies launch care experiences in days, not months

This funding is about more than just capital—it’s about momentum. It allows us to double down on product development, rapidly onboard customers from our growing waitlist, and continue scaling with intention. Our goal is to be the go-to platform for powering complex consumer healthcare operations globally.A Message from Umar“Our vision is to grow Foundation Health into the definitive tech platform for powering and managing complex consumer healthcare operations globally. With this funding, we are equipped to accelerate product development, onboard customers currently on our waitlist, and continue engaging with new customers to ensure we're delivering precisely what the market needs.
— Umar Afridi, Founder & CEOWhat’s Next?For the team, this means more opportunities to innovate, collaborate, and scale. We’re investing in the tools, talent, and infrastructure we need to deliver world-class products—and we’ll be leaning on each of you to help us build what’s next.Let’s take a moment to celebrate—and then get back to doing what we do best: transforming healthcare from the ground up.