What You Should Know:
– Groups Recover Together (Groups), a national leader in value-based care for opioid addiction treatment, today announced it has raised $60 million in Series C financing. Oak HC/FT led the round, joining existing investors Bessemer Venture Partners, Transformation Capital, RRE Ventures, Optum Ventures and Kaiser Permanente Ventures.
– The latest financing will support the expansion of Groups’ treatment model from locations in 12 states to at least 17 states by the end of 2021. Today, Groups treats more than 8,000 members across the country, a 45% increase over the past year.
– Additionally, after transitioning to serving their members exclusively through virtual care during the COVID-19 pandemic, the company will further bolster its commitment to meeting members where they are by rolling out an enhanced digital experience that will complement its already well-established infrastructure of highly effective brick-and-mortar clinics with integrated telehealth.
– To help support this deep commitment to building treatment modalities that better serve individuals who want or need their care delivered virtually, Groups also announced it has named Amar Kendale, chief product officer at Teladoc Health, to its board of directors.
