Tech-backed chronic kidney disease and end-stage renal disease management company Monogram Health announced it scored a whopping $375 million in growth funding.
Strategic investors in the round include CVS Health, Humana, SCAN Health Plan, Cigna Ventures and Memorial Hermann Health System. Other participants include First Cressey Ventures, TPG Capital, Pura Vida Investments, Northwest Ventures Partners, and Heritage Group.
Monogram partners with health plans to offer their members a range of renal care services, including predictive algorithms that identify at-risk members. It also delivers at-home and virtual care provided by Monogram's clinical team, medication management technology, personalized care pathways, clinical decision support software, remote patient monitoring capabilities and tools to create value-based care contracts.
The Nashville-based company will use the funds to deploy its clinical services and its delivery model for in-home kidney and chronic condition care.
"This latest milestone growth funding round with substantive new and existing partners is driven by our disciplined commitment to, and demonstration of, outstanding clinical results. These better quality outcomes for patients are made possible by our transformative approach to offering in-home, evidence-based nephrology and polychronic care. I'm proud to work alongside Monogram's focused leadership team to continue to propel the company as the sustainable clinical leader for patients across the United States," Dr. Bill Frist, Monogram's board chair and partner with Frist Cressey Ventures, said in a statement.
In 2021, Monogram closed a $160 million Series B funding round, which the company said would be used to fund its expansion.
The company has since added several players to its executive leadership team and its board, including Bhavesh Shah as chief financial officer; Karen Abbott as chief administrative officer and chief compliance officer; Kyle Cooksey as senior vice president of marketing and communications; and Seema Verma, former administrator of the Centers for Medicare and Medicaid Services, as a board member.
In October, Humana, a strategic investor in the latest funding round, announced a value-based care agreement with Monogram Health to offer in-home kidney care to its Medicare Advantage HMO and PPO plan members in Tennessee, Alabama, Mississippi and Louisiana.
The company also announced a collaboration with health and wellbeing organization Point32Health in October, and, in December, revealed its partnership with faith-based healthcare system AdventHealth.