DispatchHealth is raising more than $330 million to expand its technology-enabled high-acute home care ecosystem

Optum Ventures is leading the equity funding round to further accelerate DispatchHealth’s leading technology-enabled home care system

The funding will help DispatchHealth scale its alternative hospital care model, drive innovation in its technology platform, and fund strategic growth initiatives to meet the growing need for high-acute home care

DENVER, November 23, 2022 /PRNewswire/ — ShippingHealththe nation’s first provider of comprehensive acute care home medical care, announced today that it has more than upset $330 million with combined equity and debt financing. The equity round 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 $75 millionwith up to one additional $75 million are available for growth initiatives, bringing the total to more than 400 million dollars.

in the The United States, 4 trillion dollars are spent annually on health care and are projected to be exceeded 6 trillion dollars by 2028. With more than a third of this care spending being performed in traditional residential settings, the healthcare industry has reached a tipping point. DispatchHealth’s high-acute at-home care model aligns healthcare plans, healthcare systems, at-risk groups, and patients with complex care needs by providing a value-based alternative to costly facilities such as the emergency room, infirmary, or skilled nursing facility, thereby reducing medical costs while preserving the improve clinical outcomes and patient and provider satisfaction.

“Over the past seven years, we have built a comprehensive ecosystem for high acute care home care,” said Dr. Markus 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 funding round is a testament to what we and our passionate team members at DispatchHealth have created, and our partners’ trust in our excellence in care model.”

Today, DispatchHealth serves complex patients in 34 high-acute care states and has built innovative relationships with healthcare plans, providers, healthcare systems, employers, senior living facilities and home health organizations to provide a 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 qualified alternative in nursing homes. To orchestrate the complex ecosystem of home care, DispatchHealth created an operating system for high-acute home care. The proprietary technology platform uses real-time data insights to manage all aspects of home care, including logistics, onboarding, risk stratification, care coordination and analytics that improve clinical practice and drive better outcomes.

DispatchHealth will use the funding to:

  • Expansion of its proven high-acute home care ecosystem in existing markets and key expansion markets;
  • Accelerating the development of its technology platform to deliver consistent and scalable patient-centric care; and,
  • Strategically expanding its portfolio of home care systems and last mile care capabilities.

“DispatchHealth is transforming the healthcare industry by increasing access to results-based, quality home care and providing the enhanced experience patients deserve. Optum Ventures is honored to continue to deepen our relationship with DispatchHealth and its seasoned leadership team to expand their reach of high acute care home care to serve patients with complex care needs across the country,” said Laura VeronaauManaging Partner at Optum Ventures.

“DispatchHealth’s comprehensive and unique home care ecosystem is compelling. Adams Street is excited to support DispatchHealth as it expands its system of care, particularly its substitution model for high acute care hospitalizations. We believe DispatchHealth has the ability to catalyze important and needed advances in the medical and healthcare industry,” said Tom BremerPartners at Adams Street Partners.

About DispatchHealth

DispatchHealth brings the power of the hospital to the comfort of your home. DispatchHealth is building the leading in-home care system, providing on-demand acute care and advanced levels of medical care to people of all ages from the comfort of their own homes. Trained in emergency medicine and internal medicine, DispatchHealth’s medical teams are equipped with all the necessary tools to treat injuries and illnesses ranging from common to complex. DispatchHealth works closely with payers, providers, healthcare systems, emergency services, employers’ organizations and others to provide home care and reduce unnecessary emergency room visits, hospitalizations and readmissions. Acute care teams are available seven days a week, evenings and holidays and can be requested online or via a quick phone call. DispatchHealth works with most major insurance companies. For more information visit DispatchHealth.com.

About Optum Ventures

Optum Ventures is the independent venture fund of UnitedHealth Group. Optum Ventures invests in digital healthcare companies that use data and insights to improve consumer access to healthcare services, how care is delivered and paid for, and the healthcare system more reliable and easier to navigate. Visit www.optumventures.com for more information.

About Adams Street Partners

Adams Street Partners is a global private markets investment manager with investments in more than thirty countries on five continents. The company is 100% employee owned and has 50 billion dollars in assets under management. Adams Street strives to generate actionable investment insights across market cycles by leveraging 50 years of private markets experience, proprietary information 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 DispatchHealth


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