Accompany Health, a hybrid care provider for low-income patients with complex needs, announced its launch with $56 million in Series A funding from Venrock, ARCH Venture Partners, IVP, Evidenced and Granite Capital Management.
WHAT HE DOES
The Bethesda-based company provides low-income patients with 24/7 in-home and virtual care services, including primary and urgent care, mental health and social services .
It provides rides to medical appointments, helps individuals apply for government benefits and programs such as Medicaid and SNAP, and helps them obtain healthy foods.
The company also assists with health coaching, advanced care planning and care coordination, such as assisting with long-term care support services and adult daycare programs.
“We know that low-income patients with complex needs experience the most serious gaps in care and generate a huge percentage of healthcare costs, but innovators have not focused enough on them,” Dr. Bob Kocher, founder and board member of Company. Health and partner of Venrock, said in a statement.
“Accompany Health has assembled a world-class team deeply dedicated to serving those who need it most and with the technology and care delivery experience to do so. »
MARKET OVERVIEW
Other hybrid care providers have garnered massive investments to expand their offerings.
Earlier this month, Port healtha group of primary care clinics based in Texas that offers virtual and in-person care, announced that it has achieved a score $95.5 million in fundingdirected by General catalystwith the participation of Alta Partners and 8VC.
Last year, Carbon health secure $100 million in Series D funding from CVS Health Ventures. Carbon offers virtual and in-person urgent and primary care, virtual mental health and diabetes care, in-person COVID-19 testing, and work-related health care for workplace injuries.
The company announced that it had secured the Series D investment just days after revealing that it has laid off more than 200 employees.