Venture Capital: In-Home Health Care Company DispatchHealth Raises $136M in a Series C Round

June 25, 2020 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2020/06/DispatchHealth-Provider-Wearing-mask-1024x538-1.jpg

DispatchHealth provides health care beyond traditional facilities to the most accessible environment of all: the patient’s home.

In the hands of DispatchHealth founders Mark Prather and Kevin Riddleberger, the rather “old-school” service of a doctor’s house call combines with mobile technology to provide high acuity, lower cost, in-home medical care. Venture capitalists continue to like the idea and have backed DispatchHealth with $135.8 million in the latest C round of funding. (Home Health Care News)

The current round was led by Optum Ventures with participation by existing investors Alta Partners, Questa Capital, Echo Health Ventures, new investors Oak HC/FT, Humana Inc. (NYSE: HUM), and additional strategic investors.

With this funding, DispatchHealth has raised in total $216.8 million.

In-home care a booming business

Business is good in in-home healthcare and DispatchHealth has grown its revenues by 100% to 200% every year since its launch. However, it is yet to report a profit.

The company currently serves 19 markets across several states and has served more than 170,000 patients so far in 2020.

By helping patients avoid ER and hospital visits and skilled nursing facility admissions, DispatchHealth has helped save them over $200 million in medical expenses through in-home, high acuity care.

COVID-19 boosted calls for the startup’s services

During the COVID 19 pandemic, patients were unwilling to take the risk of enrolling themselves in a medical facility. As a result, many opted for in-home healthcare services from DispatchHealth.

“Our focus is on the high medical-needs and high social-needs patients,” Prather told Home Health Care News. “That person is exactly the most vulnerable patient with COVID-19. So our model has been in high demand to be able to service those patients in a safe environment, as opposed to bringing them into [a facility], where they may be exposed.”

Since March 1, DispatchHealth’s home-based visits have surged 90% compared to the same time last year.

DispatchHealth’s hospital-at-home service gaining traction

Due to adverse trends relating to the availability of hospital capacity, the high cost of hospital care, and the increasing lack of interest in building new hospitals, the “hospital-at-home” model is rapidly gaining traction.

DispatchHealth made a foray into hospital-at-home in 2019.

“Our focus has been on developing a platform that is designed to orchestrate and deliver complex medical care in the home,” Prather said to Home Health Care News. “The first obvious piece for us was on-demand, high-acuity, almost ER-like interventions in the home.”

DispatchHealth will use the new funding to grow in existing markets, expand to new markets, and launch additional services.

Related Story:   Andreessen Horowitz Leads $102M Funding in Cedar, a Medical Billing Startup

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/07/equipment-3089883_640-evidation-article.jpg
Venture Capital: Health Data Analytics Platform Evidation Raises $45M
July 2, 2020     News, Venture Capital

Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers…

https://dailyalts.com/wp-content/uploads/2020/07/screenshot-www.weforum.org-2020.07.02-18_06_35.png
Artificial Intelligence: A UVC Robot Disinfects 4,000 Sq Ft Food Bank in 30 Minutes
July 2, 2020     Artificial Intelligence, News

MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Ava Robotics, and the Greater Boston Food Bank (GBFB) collaborated on a robotic solution to the problem of disinfecting a large area…

https://dailyalts.com/wp-content/uploads/2020/07/mockup-5288033_640.jpg
Alternative Investments: TrueMark Investments Launches A Structured Outcome ETF That Tracks the S&P 500 Index
July 2, 2020     Alternative Investments, News

TrueMark Investments has launched the TrueShares Structured Outcome (July) ETF (NYSEAMERICAN: JULZ) that offers investors exposure to the S&P 500 price index. The ETF is a “structured outcome” product, the…

https://dailyalts.com/wp-content/uploads/2020/07/india-1748445_1920.jpg
Digital Assets: Crypto Gathers Pace in India After Top Court Decision
July 2, 2020     Digital Assets, News

The Supreme Court of India recently struck down a circular issued by the Reserve Bank of India that barred banks from serving crypto businesses such as traders, exchanges, or others….