Denver: DispatchHealth, a provider of in-home medical care, today announced it has secured an additional $200 million in Series D financing. Tiger Global led the Series D investment with previous investors Alta Partners, Echo Health Ventures, Humana, Oak HC/FT and Questa Capital funding the remainder of the round.
This latest investment brings the company’s total funding to more than $417 million and raises its valuation to $1.7 billion. DispatchHealth will use the funding to expand its platform for in-home medical care to a total of 100 markets and ensure its Advanced Care line of service is widely available in the United States.
Since launching in 2013, DispatchHealth has pioneered the delivery of in-home care and at its current growth rate, will generate more than $2 billion in medical cost savings by 2023. The company has developed a platform that integrates an array of in-home care services, including:
- On-demand, high-acuity care that substitutes an avoidable emergency room visit
- 30-day episodes that substitute for a hospital stay
- A marketplace to coordinate ancillary services
DispatchHealth has been able to extend the excellent care provided by a hospital system, thereby adjusting to changing consumer preferences and achieving value-based goals.
“We’ve created the most complete platform that solves all aspects of delivering health care to the home including clinical logistics, care coordination and the delivery of caring medical professionals, all while improving health outcomes and lowering costs,” said Dr. Mark Prather, CEO and co-founder of DispatchHealth. “We anticipate the care continuum to continue to move into the home and we expect our platform to enable the movement of that $140 billion marketplace.”
The funding comes on the heels of a recent agreement with Humana to provide DispatchHealth’s Advanced Care to Humana Medicare Advantage members in select cities across the country. The agreement expands access to an advanced level of care in the home, substituting a hospital stay, allowing Humana members living with multiple chronic conditions an opportunity to be treated safely at home and avoid unnecessary hospital visits.