DENVER, June 23, 2020 /PRNewswire/
-- DispatchHealth, a provider of tech-enabled in-home health
care, today 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 Inc. (NYSE: HUM) and
additional strategic investors.
This investment in DispatchHealth's comprehensive in-home care
model is more pertinent than ever. For millions of patients with
high medical and high social needs, DispatchHealth's services are a
lifeline that provides high acuity, lower cost medical care with
improved clinical outcomes. The additional funding enables
DispatchHealth to help even more vulnerable, high-needs patients by
growing in existing markets, expanding to new markets, and
launching additional services.
DispatchHealth gives patients an alternative to brick and mortar
health care. Expert clinicians designed the DispatchHealth model to
translate the skillset typically found in an emergency room or in a
hospital, where patients are treated in the context of their unique
social situation.
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," said Dr.
Mark Prather, CEO and Co-Founder of
DispatchHealth. "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."
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.
"DispatchHealth is extending health care beyond traditional
facilities to the most accessible environment of all: the patient's
home. We are excited to continue partnering with DispatchHealth to
drive value and outcomes for the industry," said Larry C. Renfro, Managing Partner of Optum
Ventures.
"Delivering patient care, especially to those with high-acuity
needs, should be seamless, integrated, and immediate.
DispatchHealth's technology platform combined with their adept
medical teams on the front lines uniquely positions the company to
deliver the right care, at the right time, in the comfort of a
patient's home when they need it most," said Andrew Adams, Co-Founder and Managing Partner of
Oak HC/FT.
"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," said 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 from coast to coast and is rapidly expanding to new
cities across the country. DispatchHealth is open seven days a
week, 365 days a year, including holidays. For more information,
visit DispatchHealth.com.
About DispatchHealth
DispatchHealth has redefined
health care delivery to offer on-demand acute care and advanced
medical care for people of all ages in the comfort of their own
home. DispatchHealth's emergency medicine and internal medicine
trained medical teams are equipped with all the tools necessary to
treat common to complex injuries and illnesses. DispatchHealth
works closely with payers, providers, health systems and others to
deliver care in the 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 via app, online or a quick phone call. Advanced Care and
Extended Care patients must be referred by a health care
professional. DispatchHealth is partnered with most major insurance
companies. For more information, visit DispatchHealth.com.
About Optum Ventures
Optum Ventures is the independent
venture fund of Optum, a leading information and technology-enabled
health services business dedicated to helping make the health
system work better for everyone, and part of UnitedHealth Group.
Optum Ventures invests in digital health companies that use data
and insights to help improve consumers' access to health care
services and how care is delivered and paid for, and that make the
health care system more reliable and easier to navigate. For more
information, visit www.optumventures.com.
About OAK HC/FT
Founded in 2014, Oak HC/FT is the
premier venture growth-equity fund investing in Healthcare
Information & Services ("HC") and Financial Services Technology
("FT"). With $1.9 billion in assets
under management, we are focused on driving transformation in these
industries by providing entrepreneurs and companies with strategic
counsel, board-level participation, business plan execution and
access to our extensive network of industry leaders. Oak HC/FT is
headquartered in Greenwich, CT,
with offices in Boston and
San Francisco.
About Humana
Humana Inc. is committed to helping our
millions of medical and specialty members achieve their best
health. Our successful history in care delivery and health plan
administration is helping us create a new kind of integrated care
with the power to improve health and well-being and lower costs.
Our efforts are leading to a better quality of life for people with
Medicare, families, individuals, military service personnel, and
communities at large.
To accomplish that, we support physicians and other health care
professionals as they work to deliver the right care in the right
place for their patients, our members. Our range of clinical
capabilities, resources and tools – such as in-home care,
behavioral health, pharmacy services, data analytics and wellness
solutions – combine to produce a simplified experience that makes
health care easier to navigate and more effective.
More information regarding Humana is available to investors via
the Investor Relations page of the company's web site at
www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases and conference calls
- Calendar of events
- Corporate Governance information
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SOURCE DispatchHealth