Optum Ventures Leads Equity Funding Round to Further Accelerate DispatchHealth’s Leading Home, Technology-Enabled Care System
Financing will help DispatchHealth expand its hospital alternative care model, advance innovation on its technology platform, and fund strategic growth initiatives to meet growing demand for high-acuity care at home
denver, November 23, 2022 /PRNewswire/ — dispatch healththe nation’s first comprehensive in-home, high acuity healthcare provider, announced today that it has raised more than $330 million Combined equity and debt financing.equity round $259 $100 million round led by Optum Ventures, with new investors Adams Street Partners, Blue Shield of california, along with continued support from existing investors Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. Debt financing provided by K2 HealthVentures, Silicon Valley Bank and SVB Capital $75 millionat most one additional $75 million Available for growth plans, bringing the total amount raised to more than $400 million.
exist U.S., $4 trillion spend on health care each year and are expected to exceed $6 trillion by 2028. With more than one-third of spending going to care provided in traditional brick-and-mortar settings, the healthcare industry has reached a watershed moment. DispatchHealth’s home-based, high-sensitivity care model aligns health plans, health systems, high-risk provider populations, and patients with complex care needs by providing a value-based alternative to high-cost settings such as emergency rooms, hospital rooms, or skilled nursing facilities, reducing healthcare costs while improving clinical outcomes and patient and provider satisfaction.
“Over the past seven years, we have been building a comprehensive ecosystem of high-sensitivity care at home,” said Dr. Mark Prather, Co-Founder and CEO of DispatchHealth. “Our proven approach to delivering healthcare to complex patients in the home will continue to transform healthcare. This funding round is a testament to what we and our passionate team members have built at DispatchHealth, and our partners’ commitment to our cutting-edge care belief model.”
Today, DispatchHealth provides highly acuity care to complex patients in 34 states and has innovative relationships with health plans, provider groups, health systems, employers, senior living facilities, and home health organizations to deliver better, more coordinated healthcare experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care (a hospital alternative) and Extended Care (a skilled nursing facility alternative). To coordinate the complex ecosystem of home care, DispatchHealth has created an operating system for home-based high-sensitivity care. The proprietary technology platform uses real-time data insights to manage all aspects of the home care experience, including logistics, onboarding, risk stratification, care coordination and analytics to enhance clinical practice and drive improved outcomes.
DispatchHealth will use the financing to:
- Expand its proven ecosystem of home-based high-sensitivity care in existing markets and key expansion markets;
- Accelerate its technology platform development to deliver consistent and scalable patient-centered care; and
- Strategically growing its portfolio of home care systems and last-mile care capabilities.
“DispatchHealth is transforming the healthcare industry by improving access to outcomes-driven, high-quality home care and delivering the enhanced experience patients deserve. Optum Ventures is proud to deepen our relationship with DispatchHealth and its experienced leadership team relationship as they continue to expand their high-sensitivity home care offerings to serve patients with complex care needs across the country,” said Laura VeronoManaging Partner of Optum Ventures.
“DispatchHealth’s comprehensive and unique home care ecosystem is compelling. Adams Street is excited to support DispatchHealth in expanding their system of care, particularly their high-sensitivity hospital replacement model. We believe DispatchHealth is positioned to facilitate important and necessary advances in healthcare industry,” said tom bremnerPartner at Adams Street Partners.
About Dispatch Health
DispatchHealth brings the power of the hospital to the comfort of your home. DispatchHealth is building the leading home care system and delivering on-demand acute care and advanced medical services to people of all ages from the comfort of their own homes. DispatchHealth’s emergency medicine and internal medicine trained medical teams are equipped with all the tools needed to treat common to complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver care at home to reduce unnecessary emergency room visits, hospitalizations and readmissions. The Acute Care medical team is available 7 days a week, evenings and holidays and can be requested online or by express phone call. DispatchHealth has partnerships with most major insurance companies.For more information, please visit DispatchHealth.com.
About Optum Ventures
Optum Ventures is UnitedHealth Group’s independent venture capital fund. Optum Ventures invests in digital health companies that use data and insights to help improve consumers’ access to, delivery and payment for healthcare services, and make healthcare systems more reliable and easier to operate. For more information, visit www.optumventures.com.
About Adams Street Partners
Adams Street Partners is a global private markets investment management firm with investments in more than thirty countries on five continents.The company is 100% employee owned and has $50 billion in managing assets. Adams Street is committed to leveraging 50 years of private markets experience, proprietary intelligence and trusted relationships to generate actionable investment insights throughout market cycles. Adams Street is at austin, Beijing, boston, chicago, London, menlo park, munich, New York, Seoul, Singaporeand Tokyo. Visit www.adamsstreetpartners.com.
SOURCE DispatchHealth
