Vytalize Health, a value-based senior care platform, announced on monday It has raised $50 million to support its rapid growth and expand partnerships with payers and primary care practices.
The Series B round was led by Enhanced Healthcare Partners. The Series A lead investor Kittyhawk Ventures, along with existing investors such as Kawn Ventures and North Coast Ventures, also joined the latest round.
“Vytalize Health will use the funding to continue investing in our care delivery infrastructure, partner with Medicare Advantage and commercial plans, and expand our incredible team,” CEO Faris Ghawi said in an email to a representative said in. “We are opening up new markets while also increasing the concentration of our practice in existing markets.”
Headquartered in Hoboken, NJ, Virtualization According to the company, its patient base has grown 150% year over year and it now works with 280 primary care facilities in 16 states. In addition to operations in New Jersey and New York, it also operates in states such as Ohio, Oregon and Texas. The company, a health care organization responsible for Medicare, currently supports physicians caring for 130,000 elderly patients, with the goal of operating in every state.
“Value-based healthcare will be the rule rather than the exception, and we expect Vytalize to help activate value-based healthcare in all markets,” Ghawi said.
Founded in 2014, the company launched a Medicare-focused primary care practice in New York. It developed a solution that combines risk-taking physical, virtual and home clinics, and a technology platform, and started making the solution available to other primary care practices in 2017. It also acquired AI-driven patient engagement platform MedPilot last year.
“We are delighted to be back [Ghawi] Samarth Chandra, general partner at Enhanced Healthcare Partners, said in a statement that they will continue to activate value-based care across the healthcare market. “Vytalize Health and its network of practices have proven time and time again that they can improve the quality of care for patients while also better managing overall health care spending.”
In the transition from volume-based reimbursement to payments that depend on the quality of care, many startups have made it their goal to help providers transition to value-based care.This includes organizations like Caravan Health This also focuses on Medicare ACOs.
For its part, Vytalize is trying to position itself as a novel solution that is tightly focused on providing value-based primary care for older patients.
“Our new Medicare ACO is focused on helping physicians strengthen their relationships with patients through data-driven, holistic and personalized care,” Ghawi said. “This financing is an important step toward our mission of accelerating the world’s transition to value-based care by caring for the physicians who care for us.”
Photo: aldomurillo, Getty Images
