HomeHealthHealth CareDispatchHealth Raises More Than $330 Million to Expand Its Technology-Enabled Ecosystem of...

DispatchHealth Raises More Than $330 Million to Expand Its Technology-Enabled Ecosystem of High Acuity Care in the Home

Optum Ventures Leads Equity Financing Round to Further Accelerate DispatchHealth’s Leading Technology-Based Home Health Care System

Funding will help DispatchHealth scale its alternative care model for hospitals, drive innovation of its technology platform and fund strategic growth initiatives to meet the growing need for high acute care home care

DENVER, November 23, 2022 /PRNewswire/ — ShippingHealththe nation’s first all-encompassing home health care provider, announced today that it has raised more than 1,000,000 $330 million in combined equity and debt financing. The share round of $259 million was led by Optum Ventureswith the participation of new investors Adams Street Partners, Blue shield of Californiaamong others, and continued support from existing investors human, Echo Health Ventures, Questa capital and Oak HC/FT. K2 Health Ventures, Silicon Valley Bank and SVB Capital debt financing provided $75 millionwith up to one extra $75 million available for growth initiatives, bringing the total to more than $400 million.

In the United States, $4 trillion is spent on health care annually and is expected to exceed $6 trillion by 2028. With more than a third of this spending on care delivered in traditional physical facilities, healthcare has reached a turning point. DispatchHealth’s in-home, very acute care model aligns health plans, health systems, high-risk groups, and patients with complex care needs by providing a value-based alternative to expensive environments such as the emergency room, hospital ward, or skilled nursing facility, reducing medical costs and simultaneously improving clinical outcomes and patient and caregiver satisfaction.

“Over the past seven years, we have built an extensive ecosystem of very acute care at home,” said Dr. Mark Prater, co-founder and CEO of DispatchHealth. “Our proven approach to delivering healthcare to complex patients at home will continue to transform healthcare. This round of funding is a testament to what we and our passionate team members have created at DispatchHealth and the belief our partners have in our leading healthcare model.”

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Today, DispatchHealth provides very acute care to complex patients in 34 states and has developed innovative relationships with health plans, providers, healthcare systems, employers, senior facilities and home care organizations to deliver a better, more coordinated care experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care, a hospital alternative, and Extended Care, an experienced nursing home alternative. To coordinate the complex ecosystem of home care, DispatchHealth has developed an operating system for very acute care at home. The patented technology platform leverages real-time data insights to manage all aspects of the home care experience, including logistics, onboarding, risk stratification, care coordination and analytics that take clinical practice to the next level and drive better outcomes.

DispatchHealth will use the funding to:

  • Expanding the proven high-care home care ecosystem in existing markets and key expansion markets;
  • Accelerate technology platform development to deliver consistent and scalable patient-centered care; and,
  • Strategically expand its portfolio of in-home system of care and last mile care capabilities.

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

“DispatchHealth’s comprehensive and unique home care ecosystem is compelling. Adams Street is excited to support DispatchHealth in expanding their healthcare system, especially their high-acute hospitalization replacement model. We believe DispatchHealth is able to make important and necessary advancements to catalyze in the healthcare sector,” said the spokesman Tom Bremnera partner at Adams Street Partners.

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About DispatchHealth

DispatchHealth brings the power of the hospital to the comfort of home. DispatchHealth is building the industry-leading home health care system, providing on-demand acute care and an advanced level of medical care for people of all ages in the comfort of their own homes. DispatchHealth-trained emergency medicine and internal medicine teams are equipped with all the tools needed to treat common to complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver care at home to reduce unnecessary emergency room visits, hospital stays and readmissions. Acute Care medical teams are available seven days a week, evenings and holidays and can be requested online or with a quick phone call. DispatchHealth works with most major insurance companies. For more information visit DispatchHealth.com.

About Optum Ventures

Optum Ventures is UnitedHealth Group’s independent venture capital fund. Optum Ventures invests in digital health companies that use data and insights to help improve consumer access to healthcare services, the way healthcare is delivered and paid for, and make the healthcare system more reliable and easier to navigate. For more information visit www.optumventures.com.

About Adams Street partners

Adams Street Partners is a global private market asset manager with investments in more than 30 countries across five continents. The company is 100% employee owned and has $50 billion in assets under management. Adams Street strives to generate actionable investment insights across all market cycles by leveraging 50 years of private market 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.

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SOURCE DispatchHealth



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