DispatchHealth, the country’s first comprehensive in-home, high-acuity medical care provider, announced today that it has raised more than $330 million in equity and debt financing. Optum Ventures led the $259 million equity round, which included new investors Adams Street Partners and Blue Shield of California, as well as maintained backing from current investors Humana, Echo Health Ventures, Questa Capital, and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank, and SVB Capital contributed $75 million in debt funding, with an additional $75 million available for growth efforts, bringing the total funded to more than $400 million.
In the United States, $4 trillion is spent on healthcare each year, with that figure expected to approach $6 trillion by 2028. The healthcare industry has reached a tipping point, with more than a third of this spending on treatment given in traditional brick-and-mortar facilities. DispatchHealth’s in-home, high acuity care model unites health plans, health systems, at-risk provider groups, and patients with complex care needs by providing a value-based alternative to high-cost settings like the emergency room, hospital ward, or skilled nursing facility, lowering medical costs while improving clinical outcomes and patient and provider satisfaction.
DispatchHealth now provides high-acuity care to complex patients in 34 states and has formed innovative partnerships with health plans, provider groups, health systems, employers, senior living facilities, and home health organizations in order to provide a better, more coordinated healthcare experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care, an alternative to a hospital, and Extended Care, an alternative to a skilled nursing facility. DispatchHealth has developed an operating system for high acuity care in the home to help organize the complex ecosystem of in-home care. The patented technology platform manages all parts of the in-home care experience, including logistics, onboarding, risk stratification, care coordination, and analytics that elevate clinical practice and deliver superior results, using real-time data insights.
The funds will be used by DispatchHealth to:
Expand its proven in-home high acuity care ecosystem in existing and key expansion markets; accelerate the development of its technology platform to deliver consistent and scalable patient-centric care; and strategically expand its portfolio of in-home system of care and last mile care capabilities.