Monogram Health, a digital benefits management & care delivery platform, closed a $160 million Series B funding round led by TPG Capital, the private equity platform of alternative asset firm TPG.
The funding round includes existing investors Frist Cressey Ventures and Norwest Venture Partners, Humana Inc., and other strategic investors. According to Monogram Health, the investment will fuel its expansion as a solution for improved kidney care in the U.S.
As part of the investment, Todd Sisitsky, co-managing partner of TPG Capital, who co-leads the platform’s healthcare franchise, has joined the Monogram Health Board of Directors.
Using artificial intelligence, evidence-based criteria, and a personalized care planning platform, Monogram Health provides renal care models and the data-driven array of clinical managed services, including complex case and disease management, utilization management, and medication therapy management to patients living with chronic kidney and end-stage renal disease.
Monogram currently operates its renal disease clinical managed services to manage benefits across 20 states in the U.S. Kendall Garrison, Partner at TPG Capital, said, “Monogram’s integrated care model combines data-driven solutions and in-home specialist care to deliver better outcomes for patients at a lower total cost. We’re excited to partner with Senator Frist, Mike, and the rest of Monogram’s industry-leading team to support the company’s next phase of growth.”
“Despite more than 20 percent of all Medicare spending going toward Americans with kidney disease, the population continues to grow and experience often dismal health outcomes and quality of life,” said Monogram Health CEO Mike Uchrin.
Mike Uchrin Added: “Our model of care dramatically improves health outcomes and reduces spending by delivering the care and services these individuals truly need and want, right in their own homes. One by one, our patient successes are adding up to significant value for our partners and driving accelerated demand for our services.”
Digital health companies raised $7.2 billion in Q1 2021, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report.