Wellvana Health today announced the completion of a $84 million capital raise to fuel innovation in value-based care enablement for independent primary care physicians, specialists, and health systems. The investment is led by Nashville-based Heritage Group and Valtruis, a Welsh, Carson, Anderson & Stowe (WCAS) company, and is joined by Memorial Hermann Health System, southeast Texas’ largest not-for-profit health system.
This round brings Wellvana’s total funding to around $140 million since November 2020. Martin Ventures, based in Nashville, led previous funding rounds in collaboration with First Trust Capital Partners and Adam Boehler.
Wellvana has a presence in 22 states, partnering with physicians, home-health agencies, skilled nursing facilities, and health systems to transition from traditional fee-for-service payment models to value-based or full-risk capitation contracting.
The investment in Wellvana will support continued growth in existing markets as well as new markets in the United States.Wellvana serves over 100,000 Medicare and commercial lives through multiple payors, Medicare Advantage, and as the manager of three national contracts for the Center for Medicare and Medicaid Services CMS’s 2023 ACO REACH Realizing Equity, Access, and Community Health model.
With a high-touch value-based care model for high-performing partners across independent primary care physicians, specialists, and health systems, Wellvana Health assists doctors in providing life-changing health care. Wellvana is on a mission to improve patient outcomes and quality of care while lowering medical costs by transitioning providers from traditional fee-for-service payment models to risk-based contracting.
Wellvana believes that value-based care is local care, and it provides providers with a flexible partnership model that includes acquisition, joint ventures, and affiliate models.
Wellvana, which was founded in 2019, currently serves health care providers in 22 states, manages lives across multiple payors, and is expanding its footprint in new communities.
