Optum Ventures leads the fairness financing spherical to additional speed up DispatchHealth’s main in-home, technology-enabled system of care
Financing will assist DispatchHealth scale its hospital different care mannequin, advance innovation of its expertise platform, and fund strategic development initiatives to fulfill the rising want of in-home excessive acuity care
DENVER, Nov. 23, 2022 /PRNewswire/ — DispatchHealth, the nation’s first complete in-home, excessive acuity medical care supplier, immediately introduced it has raised greater than $330 million in mixed fairness and debt financing. The fairness spherical of $259 million was led by Optum Ventures, with participation from new buyers Adams Street Partners, Blue Shield of California, amongst others, and continued assist from current buyers Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank and SVB Capital offered debt financing of $75 million, with as much as a further $75 million accessible for development initiatives, bringing the whole raised to greater than $400 million.
In the United States, $4 trillion is spent on healthcare yearly and it’s projected to exceed $6 trillion by 2028. With greater than a 3rd of this spend on care delivered in conventional brick-and-mortar services, the healthcare trade has reached a watershed second. DispatchHealth’s in-home, excessive acuity care mannequin aligns well being plans, well being methods, at-risk supplier teams and sufferers with advanced care wants by delivering a value-based different to high-cost settings such because the emergency room, hospital ward or expert nursing facility, decreasing medical prices whereas bettering medical outcomes and affected person and supplier satisfaction.
“For the past seven years, we have been building a comprehensive ecosystem of high acuity care in the home,” mentioned Dr. Mark Prather, Co-Founder and CEO of DispatchHealth. “Our proven approach to delivering healthcare to complex patients in their homes will continue to transform healthcare. This round of funding is a testament to what we and our passionate team members have created at DispatchHealth and the belief our partners have in our leading-edge care model.”
Today, DispatchHealth offers excessive acuity care to advanced sufferers throughout 34 states and has developed modern relationships with well being plans, supplier teams, well being methods, employers, senior dwelling services, and residential well being organizations to ship a greater, extra coordinated healthcare expertise. DispatchHealth can be one of many largest and most skilled suppliers of Advanced Care, a hospital different, and Extended Care, a talented nursing facility different. To coordinate the advanced ecosystem of in-home care, DispatchHealth has created an working system for prime acuity care within the house. The proprietary expertise platform makes use of real-time knowledge insights to handle all points of the in-home care expertise, together with logistics, onboarding, danger stratification, care coordination and analytics that elevate the medical apply and drive improved outcomes.
DispatchHealth will use the financing to:
- Expand its confirmed in-home excessive acuity care ecosystem in current markets and key growth markets;
- Accelerate its expertise platform improvement to ship constant and scalable patient-centric care; and,
- Strategically develop its portfolio of in-home system of care and final mile care capabilities.
“DispatchHealth is transforming the healthcare industry by improving access to outcomes-driven, high-quality, in-home care and delivering on the enhanced experience patients deserve. Optum Ventures is honored to deepen our relationship with DispatchHealth and its experienced leadership team as they continue to expand their reach of high acuity, in-home care to serve patients with complex care needs across the nation,” mentioned Laura Veroneau, Managing Partner at Optum Ventures.
“DispatchHealth’s comprehensive and unique ecosystem of in-home care is compelling. Adams Street is thrilled to support DispatchHealth as they expand their system of care, particularly their high acuity hospitalization substitution model. We believe DispatchHealth is positioned to catalyze important and necessary advances in the healthcare industry,” mentioned Tom Bremner, a Partner at Adams Street Partners.
DispatchHealth brings the facility of the hospital to the consolation of the house. DispatchHealth is constructing the main in-home system of care and presents on-demand acute care and a sophisticated stage of medical look after individuals of all ages within the consolation of their very own houses. DispatchHealth’s emergency medication and inner medication skilled medical groups are outfitted with all of the instruments essential to deal with widespread to advanced accidents and diseases. DispatchHealth works intently with payers, suppliers, well being methods, EMS, employer teams and others to ship care within the house to cut back pointless emergency room visits, hospital stays and readmissions. Acute Care medical groups can be found seven days per week, evenings and holidays and may be requested on-line or through a fast telephone name. DispatchHealth is partnered with most main insurance coverage firms. For extra info, go to DispatchHealth.com.
About Optum Ventures
Optum Ventures is the impartial enterprise fund of UnitedHealth Group. Optum Ventures invests in digital well being firms that use knowledge and insights to assist enhance customers’ entry to healthcare providers and the way care is delivered and paid for, and that make the well being care system extra dependable and simpler to navigate. For extra info, go to www.optumventures.com.
About Adams Street Partners
Adams Street Partners is a world personal markets funding supervisor with investments in additional than thirty nations throughout 5 continents. The agency is 100% employee-owned and has $50 billion in property underneath administration. Adams Street strives to generate actionable funding insights throughout market cycles by drawing on 50 years of personal markets expertise, proprietary intelligence, and trusted relationships. Adams Street has workplaces in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo. Visit www.adamsstreetpartners.com.