Editor's Note: This review is designed to highlight the most famous funding round of the month and is not to be comprehensive.
Health tech companies issued several major funding announcements in September. Here are some of the largest financing lists.
Working on Healthy Rakes in $550 million
Denver, Colorado-based health work with payers, health systems, primary care groups and kidney doctors. It provides home and virtual support for chronic kidney disease, end-stage renal disease, dialysis and kidney transplantation. The company uses technology and artificial intelligence to determine which stages of the disease patients are in and the best interventions. Additionally, it connects patients to nursing teams including nurse practitioners, registered nurses, case managers and nursing coordinators.
Its financing includes $300 million in equity funds and $250 million in debt financing. The equity financing is led by New Enterprise Partners (NEA), including participation from affiliates of CVS Health Ventures, Capitalg, Echo Health Ventures, Tegen Hall Ventures, Redpoint and BlackRock. Hercules Capital leads debt funds. The funding will help work hard to invest in AI and expand its care services to other conditions, such as congestive heart failure.
Capital RX receives $400 million in funding
Capital RX is a transparent pharmacy welfare manager who is now renamed Judi Health because it goes beyond pharmacy welfare. It also provides health benefits management solutions for employers, TPAs and health plans. It provides care navigation support for pharmacy, medical, vision and dental benefits. Additionally, it provides a software service solution to help health plans manage their claim workflow.
The $400 million investment includes $252 million in Series F financing led by Wellington-managed and general catalysts, as well as Generation Investment Management, Growth Equity in Goldman Sachs Alternatives, 9-Citizen Capital, B Capital, B Capital, Edison Partners, Prime Health Investments and Transformation Capital. It also includes additional investment in corporate securities, which means investors are buying stocks from existing stakeholders.
Thyme Care raises $97 million in Series D funding
Thyme Care Partners in Nashville, Tennessee with health programs, employers and risk-taking providers to support patients struggling with cancer. It provides care navigation services, technical and data insights and therapeutic interventions. The company helps patients understand their diagnosis, find cancer doctors and receive clinical care between appointments. Patients can also access a team of providers, nurses and resource experts.
The $97 million Series D convergence includes involvement in CVS Health Ventures, ForeSite Capital, A16Z Bio+ Health, Concord Health Partners, Town Hall Ventures, Alleycorp, Frist Cressey Ventures, Morgan Health, Morgan Health, Humena, Texas Oncology and Memorial Hermann Health System. Thyme Care raised a total of $275 million. Funding will help expand its payer contracts, expand to more customers, develop its oncology partnerships and invest in AI.
Various health raise $76 million in Series B funding
San Francisco-based Ethnic Health uses AI to improve provider practices and how hospitals interact with patients. Its AI agent integrates with electronic health record and practice management systems to handle routine telephone inquiries, assist booking reservations and guide patients to appropriate care. The platform supports a range of specialties including orthopedics, cardiology and pediatrics.
Its round B cycle is led by Lightspeed Venture Partners, including participation from Felicis, the first round of capital, Chemistry, A*, Liquid2 and Aige Capital. The company has raised $102 million to date. The funding will be used to build Health's team and drive the development of its platform.
Imagine Pediatrics receives $67 million in Series B funding
Imagine Nashville-based pediatrics providing virtual and home care for children with special health care needs. Its team provides medical, behavioral and social support. The company now serves about 40,000 children nationwide.
Its $67 million funding includes participation from Oak HC/FT, Optum Ventures, Rubicon founder and Autism Impact Fund. The announcement said it will “accelerate national expansion, enhance the company’s proprietary technology platform, and promote clinical innovation, aiming to close the ongoing care gap and expand opportunities for professional pediatric care for children with special healthcare needs.”
Photo: Sylverarts, Getty Images
