What is the story about?
What's Happening?
Strive Health, a company specializing in value-based kidney care, has raised $550 million through a combination of equity and debt financing. The funding will be used to enhance its AI-driven tools and expand its multi-specialty services. The equity round was led by New Enterprise Associates, with participation from CVS Health Ventures, CapitalG, and other investors. Strive Health plans to deepen its partnerships with payers and providers, aiming to improve care delivery for patients with chronic kidney disease and other high-cost specialties. The company has grown significantly, now managing nearly $5 billion in annual medical spend and partnering with over 6,500 providers.
Why It's Important?
This investment is crucial for Strive Health as it enables the company to further develop its AI capabilities, which are integral to its value-based care model. By focusing on early intervention and preventative care, Strive Health aims to reduce hospitalizations and improve patient outcomes, potentially lowering healthcare costs. The funding also supports the expansion of Strive's integrated care delivery system, which coordinates care across various specialties. As healthcare costs continue to rise, Strive's approach could serve as a model for other companies seeking to implement value-based care solutions.
What's Next?
Strive Health plans to use the new capital to accelerate technology investments and expand its management of comorbid conditions like congestive heart failure. The company is also focused on growing its partnerships with payers and providers, exploring new disease states and geographies. Strive Health's participation in the Centers for Medicare & Medicaid Services Innovation Center's Kidney Care Choices model highlights its commitment to value-based care. As the market matures, Strive Health's strong capital position may enable further growth and expansion.
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