Wheel

Texas-based Wheel enables healthcare providers to have access to clinical staff, white-label primary care and behavioral health facilities, healthcare technology, and laboratory services.  The company works with both healthcare companies and individual clinicians to provide its white-label services while additionally providing clinician matchmaking services. Wheel facilitated 1.3 million patient visits and consultations during 2021.

In November 2022, the company entered into an agreement with telehealth provider GoodRx to purchase its electronic health record, clinical management tools, and patient experience software facilities for USD 19.5 million in a cash deal. Upon closure of this deal, Wheel integrated these facilities into its telehealth platform offerings, while GoodRx continues to carry out its operations. Additionally, 20 employees of GoodRx received offers to join Wheel’s team.

As of March 2024, the company claims to cover over 4.5 million lives.

Key customers and partnerships

In February 2024, Wheel partnered with Talkspace, an online behavioral health company, to improve access to medical and mental health services virtually across the US. Through the partnership, patients were able to easily connect with healthcare providers through Wheel’s platform, and match them with a dedicated therapist through the Talkspace platform.

Most recently, in March 2024, Wheel partnered with prescription drug provider Mark Cuban Cost Plus Drug Company and data sharing platform provider Health Gorilla to expand its integrated virtual healthcare ecosystem. Through these partnerships, Wheel’s customers could receive home delivery of prescription drugs through Cost Plus Drugs and access lab and diagnostic services through Health Gorilla.

Funding and financials

In January 2022, the company raised USD 150 million in a Series C funding round co-led by Lightspeed Venture Partners and Tiger Global with participation from Coatue, Salesforce Ventures, CRV, Tusk Venture Partners, and Silverton Partners. The funds were set aside to expand its enterprise client network, facilitating virtual care. The company also announced plans to offer services beyond telehealth visits, including directing to labs, diagnostics services, and in-person visits.