DispatchHealth raises $135.8 million in Series C financing
DispatchHealth , a provider of tech-enabled in-home health care, announced the closing of $135.8 million growth capital financing. The Series C round was led by Optum Ventures and included participation from existing investors Alta Partners, Questa Capital, Echo Health Ventures, new investors Oak HC/FT, Humana and additional strategic investors.
Founded in 2013, DispatchHealth gives patients an alternative to brick and mortar health care. Patients and their care partners can request DispatchHealth medical care via phone, mobile app or website, and a medical team arrives within two hours equipped with tools and equipment needed to perform high-acuity medical care. Whether a patient is dehydrated and requires IV fluids, has a laceration needing repair, or requires higher-level interventions for asthma, chronic obstructive pulmonary disease or congestive heart failure exacerbations, DispatchHealth arrives prepared to handle a wide array of high-acuity cases.
“Approximately a third of the cost of the U.S. health care system is devoted to facility-based care delivery, such as emergency rooms, hospitals, and post-acute facilities. For seven years, our care model and technology platform have demonstrated lower costs and improved outcomes by delivering care safely in the home. Adoption has consistently grown, and our Net Promoter Score of 95 across our first 160,000 patient visits indicates high satisfaction. We appreciate the support of investors, and look forward to working with them to continue executing on our transformational vision.” – Dr. Mark Prather, CEO and Co-Founder of DispatchHealth.
DispatchHealth collaborates with large health systems, provider groups, and major insurers across the U.S. to focus on individuals with high medical and social needs whose care and quality of life greatly benefit from in-home care. This includes the majority of Commercial, Medicare Advantage and Managed Medicaid plans, as well as traditional Medicare and Medicaid.
“Home is increasingly the place where people prefer to receive their care. This is especially true for older adults with multiple chronic conditions. We believe DispatchHealth’s clinical delivery model can improve the overall patient experience and health outcomes by allowing people to remain comfortable at home while also empowering the medical team to more easily identify patient needs than they can in a clinical setting.” – Susan Diamond, Segment President, Home Business of Humana.
DispatchHealth offers acute, extended, and advanced care services to treat simple to complex injuries and illnesses in more than 19 cities and plans to expand to new cities across the country.