A local health provider has launched a nationwide expansion after a key investment.
Alabama Allergy & Asthma Center and Clinical Research Center of Alabama sold a major portion of the company at the end of 2020 to an undisclosed national investment group and has received an undisclosed injection of growth capital.
The Birmingham-based allergy provider, which is physician owned, now is expanding nationally using a rebrand on the back of the investment. Company leaders said the rebrand to become AllerVie Health was necessary for growth because the company needed a name that wouldn’t limit it to a specific region.
Dr. Weily Soong, chief medical officer of AllerVie Health, said they sought capital to ensure the expansion could go to the next level.
“Our mission has always been to provide the most innovative health care, better access to patients and great customer care. And we knew that there were practices and technologies in other industries that could be applied in medicine, and we knew those existed,” he said. “But again, we needed time and capital to really take that innovation to the next level. And also, we needed time and capital to expand our service line to provide outstanding allergy and immunology care.”
Soong also felt that the timing was right due to the company’s recent growth in innovations such as telehealth. He also said the field of immunology has received a boost with new therapies, immunotherapy targets and immunology targets.
AllerVie Health plans to open up several locations in the state by the fall, including in Fort Payne, Jasper and Enterprise. Company leaders hope to partner with other allergists not only in the state, but also from around the nation. The company also is in the process of expanding to Destin, Florida; Murfreesboro, Tennessee; and Salt Lake City, Utah.
Company leaders want to partner with well-established and respected allergists as well as continue innovation throughout the state, mainly in the food allergy treatment program, the immunotherapy program and in clinical research.
“We are building a network of board certified allergists across the U.S. who are interested in partnering together and sharing that same mission,” Soong said. “There are also underserved markets in the United States, obviously, and we know that there is more demand than number of physicians and providers. And so, there’s got to be a better way to do more efficient care and to really reach out to the masses.”
The company is also expanding its overall employee count on a national and local level.