UpStream Healthcare, a leading provider of value-based primary care services and technology, announced a $140 million Series B funding round today, bringing its total capital to approximately $185 million. Coatue and Dragoneer, both technology and global growth investors, co-led the round, with participation from other leading healthcare and technology investors such as Avidity Partners, Define Ventures, and Mubadala.
UpStream provides an integrated platform that focuses care quality, health equality, and total cost of care to physicians operating under full-risk, value-based arrangements who provide care to Medicare seniors. Its complete set of services and technological solutions enables physicians to improve outcomes for themselves, their practices, and their patients.
UpStream works by embedding pharmacists and other clinical personnel inside primary care physician offices and supporting physicians with unique technology that predicts patient requirements, enhances patient care, improves quality, and helps seniors with chronic diseases coordinate treatment. UpStream’s professionally guided teams manage treatment for the most medically and socially demanding patients. In mature cohorts, the company has assisted its provider customers in reducing in-patient and post-acute spend by 20% while maintaining an average 4.5-star quality performance for contracted seniors attributable to those techniques.
UpStream has rapidly expanded as a result of its success, working with medical groups in areas such as North Carolina, Virginia, and South Carolina. UpStream has already announced additional network ties for 2023 with Community Care Physician Network in North Carolina, Tidewater Medical Group in Virginia, the Medical University of South Carolina Health Alliance, and South Carolina’s independent physician association Primary Care Associates.