Lumeris, a value-based care strategy, technology and operations company, announced it secured $100 million in an equity capital raise led by Deerfield Management.
Endeavor Health joined as a new investor, and BlueCross BlueShield Venture Partners, Sandbox Industries, Kleiner Perkins and JDLinx participated in the round.
WHAT IT DOES
The Missouri-based company strategizes with health systems and other care providers to move their practices to a value-based care system via technology-powered enablement and care-provider services.
The funds will be used to support the company’s expansion of its provider partnerships.
“Lumeris has demonstrated differentiation through best-in-class technology and the ability to foresee and manage risk,” Vincent Mellet, partner at Deerfield Management, said in a statement.
“Its longstanding ownership and management of a Medicare Advantage plan that has received a five-star rating for the past three years is a testament to its deep understanding of the healthcare landscape and its commitment to delivering high-quality patient care.”
MARKET SNAPSHOT
Lumeris has announced numerous collaborations over the past several years, including a long-term partnership with Stanford Health Care in 2019 to expand Stanford Health Care Advantage, a Medicare Advantage plan in Northern California, and help the care system transition to a value-based care-delivery model.
The company partnered with Northeast Georgia Health System a year later to improve the provider’s population health capabilities.
Earlier this year, Lumeris announced a strategic partnership with Denver-based Integrated Physician Network, a clinically integrated network of more than 300 practitioners and physicians focused on improving practices and value-based care delivery.
The St. Louis-based company expanded its executive leadership team over the past few years by appointing Jean-Claude Saghbini as chief technology officer. Saghbini formerly served as CTO of Wolters Kluwer Health.
Lumeris added Julie Hammes as senior VP of people and culture and Umar Farooq, who previously served as an executive at Centene Corp. and is now President of Lumeris’ Medical Advantage Plan affiliate Essence Healthcare.
Other companies looking to advance value-based care delivery include healthcare data and analytics company Reveleer, which announced it secured a more than $65 million investment in February, and Maryland-based health technology company Aledade, which works with primary care providers to build tech-enabled accountable care organizations and scored a whopping $260 million investment in June of last year.
