Sollis Health: Redefining Urgent and Emergency Care

By Stephen Peterson, Shannon Bergstedt and Ian Tong

We’ve all been there. It’s the middle of the night, and a child spikes a high fever. A weekend trip yields an unexpected injury. A persistent cough suddenly feels much worse. In these moments, you don’t have time to navigate the complexities of the healthcare system. You need care, and you need it fast.

Too often, the only option is a crowded emergency room or an urgent care center. ERs mean long waits, high costs, and a stressful experience. Urgent care centers, while convenient, have limited capabilities, restrictive hours, and inconsistent quality. The experience is frustrating, inefficient, and in many cases, completely unavoidable. That’s why Foresite Capital is excited to lead the $35M Series B financing for Sollis Health.

Sollis Health is at the forefront of a transformation in healthcare: one that is consumer-driven, service-oriented, and built around direct access. Patients are demanding more from their healthcare experiences—convenience, transparency, and high-touch service. With a membership-based model that offers on-demand, concierge-level care, Sollis is proving that healthcare can be just as accessible and personalized as the best hospitality services.

A Future Without Barriers to Care

For decades, our healthcare system has been built around insurance-driven complexity—where access to care is determined not by need, but by approvals, networks, and administrative red tape. Today, consumers are rejecting these barriers and opting for models that give them more choice, agency and control.

We believe healthcare is undergoing the same consumerization that has reshaped industries like retail, transportation, and finance. Direct-pay models, like the one Sollis has pioneered, empower patients to make informed choices about their care—when, where, how and from whom they receive it.

We believe this model is better for patients because it:

Provides clear and immediate value – Members have peace of mind that whenever they or their family need help, an ER-trained Sollis clinician is always available.
Eliminates delays – No waiting for appointments, insurance authorizations or referrals.
Offers transparency – Members know exactly what they’re paying for with no surprise bills months later.
Empowers physicians – Doctors are free to care for their patients without insurance-driven limitations.
Prioritizes experience – Care is delivered in a calm, welcoming setting, free from the chaos of an ER waiting room, where average wait times exceed three hours nationally.

Patients today expect a healthcare experience that mirrors the ease and accessibility of the services they use daily. The rise of telehealth, on-demand services, and concierge care are all signals that this shift is well underway (1&2). As a first-in-class offering, Sollis Health is leading the charge in emergency care.

Sollis Health has built an expanding network of 12 locations across four markets, offering seamless access to high-quality emergency and urgent care. Members receive 24/7, zero-wait access to ER-trained clinicians via clinic visits, telehealth, or house calls. Locations are equipped with advanced imaging, full lab capabilities, and seamless coordination with top hospitals and specialists. A patient can see a physician, undergo a CT scan with results, and secure a same-day specialist appointment—all within 45 minutes of walking in the door.

Importantly, Sollis Health is not a replacement for primary care—it’s a complement to it. By offering immediate care when urgent issues arise, Sollis enhances the role of primary care physicians rather than competing with them. Members can rely on Sollis for acute concerns that arise anytime, anywhere, while continuing to maintain long-term relationships with their primary doctors. This synergy creates a streamlined continuum of care, ensuring that patients receive the right care from the right provider at the right time.

Why We Invested

At Foresite Capital, we seek to invest in companies that are reshaping the future of healthcare. Sollis Health is proving that care can be high-quality, patient-first, and built around consumer expectations. Their model is more than just an alternative—it’s a new standard.

Beyond the clear benefit to patients, providers and partners, we believe Sollis is also an excellent business. Our investment thesis was driven by the following factors:

Compelling Membership Model with Strong Retention: Sollis has a loyal member base, with 80%+ average renewal rates that strengthen over time and with use of the service. The company benefits from a powerful flywheel effect: excellent patient experiences drive high retention and word-of-mouth referrals, fueling organic growth.
Highly Predictable, Recurring Revenue: Sollis is a cash-pay business that does not accept or bill insurance. Nearly all of the company’s revenue comes from the annual membership fee, which is predictable, highly recurring and paid upfront.
Outstanding Unit Economics: Sollis has demonstrated strong store economics with cost-effective buildouts, attractive payback periods and four-wall profitability that ranks it among the top brick-and-mortar businesses in any industry (3). Additionally, the business boasts an LTV:CAC ratio that ranks it among the top consumer or service-oriented businesses (4).
Seasoned Leadership Team: Under the leadership of Brad Olson and a newly strengthened senior team, we believe that Sollis Health is well-positioned for its next phase of growth. Olson, who most recently served as Chief Business Officer of Peloton scaled their subscription business 100x while maintaining industry-leading retention and satisfaction metrics (90% retention rate, NPS over 80 (5)), is joined by an experienced executive team with a proven track record of driving growth, operational excellence, and scale at multi-site healthcare businesses.
Complementary To vs. Competitive With Concierge Primary Care: Sollis Health complements rather than competes with concierge primary care. In fact, partnerships with primary care providers represent a meaningful portion of Sollis Health’s business.
Large and Growing Market: Consumer demand for high-quality, accessible healthcare services is growing, and Americans are increasingly willing to pay for it. The number of concierge doctors and patients (~17,000 and 5M respectively) in the United States is increasing 15% annually (6), and the U.S. self-pay healthcare industry ($470 B today) is growing ~7% per year (7).

We’re proud to back Sollis Health as they redefine urgent and emergency care. Because when every second counts, patients deserve immediate, high-quality care that puts them first. That’s the future of healthcare.

1: https://pmc.ncbi.nlm.nih.gov/articles/PMC9035352/

2: Grand View Research – U.S. Concierge Medicine Market Analysis

3: CapitalIQ, Full:Ratio, Toast

4: Hubspot, Phoenix Strategy Group

5: Peloton SEC filings and investor presentations.

6: Castle Connoly, Concierge Medicine Today, Grand View Research

7: CMS.gov

Foresite’s thesis is its opinion and this investment may or may not be successful.

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