Originally published by MobiHealthNews on March 28, 2023
Wellvana Health, a value-based care platform for healthcare providers, garnered an $84 million capital investment, bringing its total raise to $140 million.
Heritage Group and Valtruis co-led the investment, with participation from Memorial Hermann Health System.
WHAT IT DOES
The Nashville-based company offers health systems, independent primary care physicians and specialists guidance and incentives to improve value-based care models using tools such as data analytics and population health technology.
Wellvana will use the funds to support its growth in U.S. markets.
"We are taking a differentiated value-based care approach that only succeeds when two things align: data-driven technology and high-touch human engagement. Our model is working; savings rates are strong for our physician partners with improved patient outcomes and reduced in-patient ER admissions across every market. Most importantly, our physicians and their patients feel heard, seen and valued, renewing trust in the American healthcare system," Kyle Wailes, CEO of Wellvana, said in a statement.
Other companies focusing on value-based care include Canadian health tech company PointClickCare, which acquired Patient Pattern, a value-based care electronic health record and integrated care management platform, and New Jersey-based Vytalize Health.
In February, Vytalize Health, which offers independent primary care practices treating Medicare patients with a value-based care platform with data analytics, garnered a whopping $100 million in funding.