What You Should Know
- Value-based oncology navigation and management leader Thyme Care announced a Series E financing round exceeding $125M, led by Morgan Health.
- Strategic and institutional syndication includes major national payers and healthcare venture firms: Humana, CVS Health Ventures, AlleyCorp, HealthQuest Capital, Foresite Capital, Concord Health Partners, Frist Cressey Ventures, Town Hall Ventures, and a16z Bio + Health.
- The company manages more than $7Bin annual oncology spend, with active services covering over 10.5 million individuals across all 50 states.
- Establishes Thyme Companies, a new parent entity created to launch and scale independent operating businesses addressing systemic oncology bottlenecks—initiating with lower-cost biosimilar adoption and clinical trial patient accrual later this year.
Profitable Operations Across $7 Billion in Managed Oncology Spend
The investment comes as Thyme Care operates profitably with positive free cash flow. The company’s platform and care-navigation teams are currently active across all 50 states, reaching over 10.5 million covered lives and managing more than $7 billion in aggregate oncology spend.
By integrating oncology-trained care teams, predictive risk software, and community oncology practices into payer risk contracts, the company has validated a 5% to 10% reduction in total cost of care.
Launching Thyme Companies to Target Structural Oncology Inefficiencies
Alongside the financing, the organization announced the formation of Thyme Companies, a new parent entity structured to launch and scale independent operating businesses addressing persistent roadblocks across oncology.
Initial focus areas under development include:
- Biosimilar Uptake Acceleration: Dedicated software and operational pathways to speed provider adoption of lower-cost biosimilar therapies, lowering spend for commercial and Medicare Advantage plans.
- Decentralized Clinical Trial Accrual: Workflow and data tools designed to match and enroll community cancer patients into clinical trials, addressing chronic study under-enrollment. The first independent business unit under the parent company is slated to launch later this year.
“People living with cancer have traditionally been left to coordinate care themselves and pay more along the way. Thyme Care is changing that experience and making it possible to improve cancer care while lowering costs,” said Dan Mendelson, CEO of Morgan Health. “We’re continuing to invest in Thyme Care because we’re confident they can continue to deliver value to patients and payers—as they make the next wave of cancer care innovation easier to access and navigate.”
Executive Leadership Realignment
Under the new operational structure:
- Robin Shah, co-founder of Thyme Care, will transition to serve as Executive Chairman of Thyme Companies, overseeing corporate strategy and incubating new business lines alongside co-founder Dr. Bobby Green.
- Dr. Brad Diephuis continues as Chief Executive Officer of Thyme Care, leading the core navigation and value-based care delivery platform.
- Dr. Bobby Green continues as President and Chief Medical Officer of Thyme Care while collaborating on Thyme Companies’ clinical roadmap.
