Aledade, a nationwide community of unbiased main care practices, secured $260 million in Sequence F funding, which it’s going to use to additional develop its community and enhance its expertise, the corporate just lately introduced.
The Bethesda, Maryland-based firm is a public profit company that helps unbiased practices, well being facilities and clinics have interaction in value-based care. It really works with 1,500 practices throughout 45 states and the District of Columbia, and has greater than 150 value-based contracts that cowl greater than two million sufferers. The corporate has supported multiple million sufferers via the Medicare Shared Financial savings Program and virtually 250,000 sufferers via Medicare Benefit contracts.
The $260 million financing spherical was led by Lightspeed Enterprise Companions, a brand new investor of the corporate. It additionally included participation from Venrock, Avidity Companions, OMERS Progress Fairness and Constancy Administration and Analysis Firm.
Lightspeed Enterprise Companions selected to put money into Aledade due to its work in supporting the shift to value-based care, mentioned Dr. Galym Imanbayev, companion on the agency.
“Aledade unlocks the distinctive energy of unbiased main care practices and well being facilities to enhance well being outcomes for sufferers and get rid of wasteful downstream prices — all whereas doing so at scale with super development forward,” Imanbayev mentioned in a information launch.
With the funding, Aledade plans to proceed rising its main care community, in addition to have interaction in additional strategic alliances with nationwide and regional well being plans. Along with rising its community and partnerships, Aledade can even use the financing to enhance its expertise and providers it provides companion practices, mentioned Dr. Farzad Mostashari, CEO and co-founder of Aledade, in an e mail.
When requested what Aledade’s exit technique is, Mostashari responded that, “Proper now, we’re centered on persevering with to help our companion practices and rising the variety of practices in our nationwide community. Each resolution we make as an organization, together with future liquidity occasions, is made with that mission on the heart. It’s why we grew to become a public profit company earlier this 12 months.”
The fundraising information follows a sequence of bulletins from Aledade.
In March, the corporate introduced a 10-year collaboration with Humana, which supplies the insurers’ Medicare Benefit members entry to main care providers from Aledade via value-based preparations. Shortly after, Aledade launched one other strategic alliance with CareFirst BlueCross BlueShield. By way of this alliance, the insurers’ in-network practices have entry to help from Aledade’s specialists to assist them enhance their value-based care, comparable to on-site teaching and regulatory and coverage experience. Aledade additionally acquired value-based care analytics firm Curia in February.
To this point, the first care firm has saved the healthcare system greater than $1.7 billion, Mostashari claimed.
Different main care networks embody Agilon and Oak Road Well being, the latter of which was simply acquired by CVS Well being.
Image: Feodora Chiosea, Getty Photos
