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Philips Backing Virtual Medicine Startup

American Well, a start-up that helps hospitals and other physician groups integrate virtual consultations, has backing from a giant new partner: Philips.

As of June 28, American Well had raised a fresh $291 million, according to an SEC filing, which indicates the company is aiming to raise a total of about $315 million. In January, American Well announced a deal with Philips “to jointly deliver virtual care solutions around the world.” Derek Ross, the business leader of Philips’s population health management division, has joined American Well’s board as part of his company’s investment in the start-up.

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