Optum Ventures Leads Equity Funding Round to Further Accelerate DispatchHealth’s Leading Technology-Based Home Care System
Funding will help DispatchHealth evolve its alternative hospital care model, advance its technology platform innovation, and fund strategic growth initiatives to meet the growing need for high-acuity home care
DENVER, November 23, 2022 /PRNewswire/ — DispatchHealththe nation’s leading home-based high-acuity medical care provider, today announced that it has raised more than $330 million in combined equity and debt financing. The round table of $259 million was led by Optum Ventures, with participation from new investors Adams Street Partners, Blue Shield of California, among others, and continued support from existing investors Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank and SVB Capital provided debt financing for $75 millionwith up to a supplement $75 million available for growth initiatives, bringing the total raised to more than $400 million.
In United States, 4 trillion dollars is spent on health care each year and is expected to exceed $6 trillion by 2028. With more than a third of this spending on care delivered in traditional physical settings, the health sector has reached a turning point. DispatchHealth’s home-based critical care model aligns health plans, health systems, at-risk provider groups, and patients with complex care needs by providing a value-based alternative to expensive environments such as emergency rooms , hospital services or skilled nursing. facility, reducing medical costs while improving clinical outcomes and patient and provider satisfaction.
“Over the past seven years, we’ve built a comprehensive home-based high-acuity care ecosystem,” said Dr. Marc Prather, co-founder and CEO of DispatchHealth. “Our proven approach to delivering complex patient care at home 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 trust our partners have in our state-of-the-art care. mockup.”
Today, DispatchHealth provides high-acuity care to complex patients in 34 states and has developed innovative relationships with health plans, provider groups, health systems, employers, retirement homes, and home health organizations to provide a better and more coordinated health care experience. DispatchHealth is also one of the largest and most experienced providers of advanced care, a hospital alternative, and extended care, an alternative to skilled nursing facilities. To coordinate the complex home care ecosystem, DispatchHealth created a High Acuity Home Care Operating System. Proprietary technology platform uses real-time data to manage all aspects of the home care experience, including logistics, integration, risk stratification, care coordination, and analytics that improve clinical practice and improve results.
DispatchHealth will use the funding to:
- Expand its proven home critical care ecosystem in existing markets and key growing markets;
- Accelerate the development of its technology platform to provide consistent and scalable patient-centered care; and,
- Strategically grow its portfolio of home care systems and last mile care capabilities.
“DispatchHealth is transforming the healthcare industry by improving access to high-quality, outcomes-driven home care and delivering the enhanced patient experience that patients deserve. Optum Ventures is honored to deepen our relationship with DispatchHealth and its experienced leadership team as they continue to expand their high acuity home care reach to serve patients with complex care needs across the country,” said Laura Veroneaumanaging partner at Optum Ventures.
“DispatchHealth’s comprehensive and unique home care ecosystem is compelling. Adams Street is excited to support DispatchHealth as they expand their system of care, particularly their high-acuity hospitalization surrogate model. We believe DispatchHealth is well positioned to catalyze important and needed advancements in the healthcare industry,” said Tom Bremnerpartner at Adams Street Partners.
About Dispatch Health
DispatchHealth brings the power of the hospital to the comfort of home. DispatchHealth builds the leading home care system and provides on-demand acute care and an advanced level of medical care for people of all ages in the comfort of their own home. DispatchHealth’s medical teams trained in emergency medicine and internal medicine are equipped with all the tools necessary to treat common and complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver home care to reduce unnecessary emergency room visits, hospital stays and readmissions. Acute care medical teams are available seven days a week, evenings and holidays and can be requested online or via a quick phone call. DispatchHealth partners with most major insurance companies. For more information, visit DispatchHealth.com.
About Optum Ventures
Optum Ventures is the independent venture capital fund of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and information to help improve consumer access to health services and the way care is delivered and paid for, and that make the health system more reliable and easier to navigate. For more information, visit www.optumventures.com.
About Adams Street Partners
Adams Street Partners is a global private markets investment manager with investments in over thirty countries on five continents. The company is 100% employee owned and has $50 billion in assets under management. Adams Street strives to generate actionable investment insights through market cycles by leveraging 50 years of private markets experience, proprietary intelligence and trusted relationships. Adams Street has offices in Austin, beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singaporeand Tokyo. Visit www.adamsstreetpartners.com.
SOURCE Dispatch Health