What's Happening?
Strive Health, a company specializing in value-based kidney care, has successfully raised $550 million to expand its services. This funding includes a $300 million Series D equity round led by New Enterprise Associates, with additional investments from CVS Health Ventures, CapitalG, and BlackRock, Inc. The remaining $250 million comes from debt financing led by Hercules Capital. Strive Health aims to use these funds to strengthen strategic partnerships, grow its multi-specialty services, and enhance its care model with advanced technology, including AI-driven tools and analytics. The company currently collaborates with over 6,500 providers nationwide, managing nearly $5 billion in annual medical spending for over 145,000 patients.
Why It's Important?
The funding is significant as it supports Strive Health's mission to transform kidney care in the U.S., where over 35 million people suffer from kidney disease. The company's approach emphasizes early intervention and preventative care, which has shown to reduce the total cost of kidney care by 20% and hospitalizations by 41%, while achieving a 94% patient satisfaction rate. By integrating AI technology and care interventions, Strive Health aims to improve clinical outcomes and reduce healthcare costs, benefiting both patients and providers. This investment reflects confidence in Strive Health's model and its potential to make a substantial impact on the healthcare system.
What's Next?
Strive Health plans to continue expanding its services and partnerships across the U.S., leveraging the new funding to enhance its AI-driven care model. The company will focus on integrating its services with local providers and payors, including Medicare Advantage, to offer flexible value-based payment arrangements. As Strive Health grows, it may influence other healthcare providers to adopt similar models, potentially leading to broader changes in the kidney care industry.
