What You Should Know:
– Strive Health, a provider of value-based kidney care announced it has secured $550M, consisting of a $300M Series D equity round and $250M in debt financing.
– The equity funding was led by New Enterprise Associates (NEA), with additional investments from a syndicate of leading financial institutions, including CVS Health Ventures, CapitalG, and BlackRock, Inc.. Hercules Capital led the debt financing.
– The funding will enable Strive and its team of over 700 employees, known as “Strivers,” to strengthen end-to-end strategic partnerships, grow its multi-specialty services, and enhance its value-based care model with advanced technology, including AI-driven tools and analytics.
Addressing a Critical Gap in Care
Using a unique combination of AI technology, care interventions and seamless integration with local providers, Strive forms an integrated care delivery system that supports the entire patient journey from chronic kidney disease (CKD) to end-stage kidney disease (ESKD). Over 35 million Americans have kidney disease, yet 90% of people are unaware of their condition until it has progressed to the point where dialysis or a transplant is necessary.
To help patients, Strive partners with commercial and Medicare Advantage payors, Medicare, health systems and physicians through flexible value-based payment arrangements, including risk-based programs. Strive’s value-based care approach emphasizes early intervention and preventative care. This model has demonstrated a 20% reduction in the total cost of kidney care and a 41% reduction in hospitalizations while achieving a 94% patient satisfaction rate.
Strive Health’s standard of excellence is achieved through high-touch, preventative care and AI solutions that reduce total cost of care and improve clinical outcomes. The company’s technology platform, CareMultiplier™, is certified by HITRUST, and its case management and population health programs are accredited by the National Committee for Quality Assurance (NCQA).
“When we founded Strive in 2018, the team set out to transform kidney care,” said Chris Riopelle, Co-Founder and CEO of Strive. “The continued investments from NEA, Strive’s founding capital partner, alongside a syndicate of leading financial institutions combined with valued tech and healthcare strategics, is a clear signal that the Strive team is delivering on that mission. By transforming kidney care, we will ultimately make the healthcare system work better for patients and providers.”
The company currently partners with more than 6,500 providers across all 50 states and manages nearly $5B in annual medical spending for over 145,000 people.
