Crossover Health raises $168 million
Crossover Health , a provider of comprehensive health services for self-insured employers, has raised $168 million in a Series D financing led by Deerfield Management Company. Additional new investors include Perceptive Advisors, OrbiMed Advisors, Foresite Capital, Avidity Partners, SharesPost100 Fund, Irving Investors, and PFM Health Sciences. The capital will be applied to continuing the national expansion of Crossover’s Connected System of Health for employers and payers.
“Today’s financing signifies confidence in our vision and ability to address the evolving healthcare needs of self-insured employers and traditional payers who are looking for more care delivery accountability that achieves lower cost, higher quality, and a consistently exceptional experience for their employees and members. We have always been driven by a clear and compelling vision for how healthcare should be – comprehensive, simple, and above all, engaging. We achieve this with a value-based approach that includes team-based primary care, physical medicine, mental health, and care navigation as part of our in-person and online Primary Health service.” – Scott Shreeve, MD, Founder and CEO of Crossover Health.
Founded in 2010, Crossover Health currently services over 400,000 eligible employees and dependents throughout the country. Crossover’s Connected System of Health creates a national network that delivers online care in all 50 states, as well as in-person care in 48 health center in 11 states. These health centers are located either on employer campuses, near employer campuses, or in the neighborhoods where eligible members and their families live.
“Crossover Health has created a comprehensive and highly coordinated connected system of health for employers. Our interest in backing health technology, care services, and innovative reimbursement models that have helped transform the industry aligns with the commitment of the Crossover team.” – Adam Grossman, Partner at Deerfield Management.