Cricket Health closes $83.5 million funding round, receives investment from Blue Shield
Click Here to Manage Email Alerts
Cricket Health has closed an $83.5 million Series B funding round, setting the stage for the company to expand and improve care for patients with kidney disease across the United States, according to a press release.
The funding round was led by Valtrius, a portfolio company launched by the New York-based private equity firm Welsh, Carson, Anderson and Stowe that centers its investments on companies that promote models of care that are value- and home-based, according to the release.
"Kidney disease has been a tremendous problem for our health care system due to its complexity, high cost of care, and the lack of early diagnosis intervention. Cricket Health's approach of marrying cutting-edge analytics with dedicated care teams supported by a digital health platform is achieving outstanding clinical outcomes," Tracy Bahl, managing partner at Valtruis, said in the release. "We are excited to help Cricket Health continue to expand its reach and positively impact the lives of even more Americans with kidney disease."
In addition to Valtrius and existing investors Oak HC/FT and Cigna Ventures, Blue Shield of California contributed to the funding round, with its interim chief medical officer also weighing in on the potential of Cricket Health.
"In the year that we have been working with Cricket Health, our members with chronic kidney disease have received comprehensive care from the comfort of their homes, resulting in better health outcomes," Susan Fleischman, MD, said. “Cricket Health's virtual platform has helped connect patients with clinical and peer support, making them feel more educated about their health and involved in their care plans, allowing them to live their best lives."
With the investments from this new funding round, Cricket Health has now raised more than $120 million in equity and debt financing, according to the release.
“Changing the way kidney disease is identified and managed is how we are able to deliver better clinical results,” Robert Sepucha, CEO of Cricket Health, said. "By identifying patients earlier and delivering the care they need, we are helping more Americans than ever stay healthy, at home, and out of the hospital. With new partners Welsh Carson and Blue Shield of California, and existing partners Oak HC/FT, Cigna, and K2 Health Ventures, we will be able to continue to expand our innovative model of kidney care across the country."
Read more about
Click Here to Manage Email Alerts