F. R. Bigelow Foundation Invests $500,000 in Minneapolis-Based Nice Healthcare
F. R. Bigelow Foundation (the Foundation) announced today that it has invested $500,000 in Nice Healthcare’s recently completed $30 million Series A financing. Nice Healthcare is a virtual and home-based primary care company. The Series A funding will expand Nice Healthcare’s delivery of services in Minnesota, the eastern region of the U.S. and in the 12 states where the company currently operates.
Founded in 2017, Nice Healthcare enables small and medium-sized businesses to offer free and unlimited primary care services to their employees and their dependents. Businesses pay a fixed fee per employee for the provision of these services and there are no employee out-of-pocket costs. Nice Healthcare’s services include same-day chat and video visits, in-home visits for lab work and physical tests, free in-home X-rays and EKG services and free virtual physical therapy and mental health therapy.
“Nice Healthcare’s delivery model aligns with the Foundation’s focus on investing in opportunities that achieve racially and economically equitable health-related outcomes in Minnesota and the East Metro,” said Foundation Board Member and Investment Committee Chair, Mary Tingerthal. “Nice Healthcare’s founder Thompson Aderinkomi is a healthcare visionary with proven experience in making high-quality healthcare more accessible and affordable.”
Aderinkomi said Nice Healthcare’s diverse leadership team is dedicated to providing health-related services to middle and working class families, a segment that according to Aderinkomi is often missed by other health innovation providers who serve tech savvy, high earning consumers or those who are marginalized.
“Healthcare innovation is worthless if it does not simultaneously and immediately reduce health insurance premiums, reduce patient out of pocket costs, and make care more accessible,” said Aderinkomi. “We are grateful for the Foundation’s support, which enables us to bring our impactful model of care to more homes across Minnesota and nationwide while helping more people save money and time in geographies and locations that are typically overlooked.”
About the Foundation
F. R. Bigelow Foundation is committed to making the Saint Paul community a better place to live, learn and grow. Frederic Russell Bigelow, fourth president of the Saint Paul Fire and Marine Company (now Travelers), created the Foundation through a trust in 1946. Today, his commitment to strengthening the Saint Paul area lives on through the Foundation. The Foundation is an affiliate of the Saint Paul & Minnesota Foundation.