Milestone funding from leading strategic and financial investors will help accelerate company’s mission to measurably improve outcomes for patients living with polychronic conditions, including chronic kidney and end-stage renal disease
NASHVILLE, Tenn., Jan. 9, 2023 /PRNewswire/ — Monogram Health, a value-based specialty provider of in-home evidence-based care and benefit management services for patients living with polychronic conditions, including chronic kidney and end-stage renal disease, today announced it has closed on $375 million of new funding. This milestone growth funding round included investments from leading strategic investors CVS Health, Cigna Ventures, Humana, Memorial Hermann Health System, and SCAN, as well as from both new and existing financial investors including TPG Capital, Frist Cressey Ventures, Heritage Group, Pura Vida Investments, and Norwest Venture Partners, among others.
Monogram will use the funding proceeds to continue to support the rapid and widespread deployment of the company’s innovative in-home kidney and polychronic care delivery model as well as its technology- driven array of evidence-based clinical services, which include complex case and disease management, utilization management, and medication therapy management. This innovative model of care transforms the way health care is delivered for those with kidney disease as well as comorbid metabolic disorders and has been shown to dramatically improve patient outcomes and quality of life while reducing medical costs across the health care continuum, improving access and affordability for all.
“Monogram is bringing an innovative, integrated approach to in-home care delivery that is increasing access and engagement, lowering cost, and driving better outcomes for patients managing chronic kidney disease,” said Todd Sisitsky, President of TPG and Co-Managing Partner of TPG Capital. “We’re proud to continue to partner with Mike and the Monogram team, along with a world-class syndicate of strategic investors, as they transform existing care models and build a value-based healthcare system that truly serves the needs of all patients and communities nationwide,” added Kendall Garrison, Partner at TPG Capital.
“At Monogram Health we actively manage patients’ kidney disease and a wide range of acute and chronic conditions using our proprietary, evidence-based protocols and technology,” said Mike Uchrin, CEO and Co-Founder of Monogram Health. “Everything we do is designed to improve access to health care and health outcomes for polychronic patients by supporting their individual needs in their own homes, transforming the patient experience, especially for those who have been historically underserved.”
For the more than 37 million American adults living with chronic kidney disease, access to the type of specialized care that Monogram provides is critical. Monogram’s transformative, high-touch and in-home model is driven by the company’s extensive market-based teams of clinicians, led by physicians and nurse practitioners who are supported by registered nurses, social workers, pharmacists, and care management teams. These providers and clinical experts are further bolstered by utilization management teams that focus in and around hospitalizations and discharge management, personalizing the experience and care for Monogram patients in nearly 4,000 U.S. cities across 34 states.
With its new strategic syndicate, Monogram’s investor base now serves over 30% of Medicare Advantage members nationwide and supports upwards of 40% of the U.S. population, uniquely positioning the company to serve those living with chronic kidney disease and their related metabolic disorders.
“We founded Monogram Health with a particular eye on health equity,” said Senator Bill Frist, M.D., Monogram’s board chair and Partner with Frist Cressey Ventures. “Kidney disease impacts a disproportionate share of disadvantaged communities and communities of color. Monogram has made bold strides in offering patients and families enhanced access to much needed health services, while substantially improving the overall affordability of their care. This latest milestone growth funding round with substantive new and existing partners is driven by our disciplined commitment to, and demonstration of, outstanding clinical results. These better quality outcomes for patients are made possible by our transformative approach to offering in-home, evidence-based nephrology and polychronic care. I’m proud to work alongside Monogram’s focused leadership team to continue to propel the company as the sustainable clinical leader for patients across the United States.”
BofA Securities acted as sole placement agent and Cravath, Swaine & Moore LLP served as legal counsel to Monogram in connection with the transaction.
About Monogram Health
Monogram Health is a leading value-based specialty provider of in-home evidence-based care and benefit management services for patients living with polychronic conditions, including chronic kidney and end-stage renal disease. The company deploys an innovative in-home care delivery model and technology-driven array of evidence-based clinical services, including complex case and disease management, utilization management, and medication therapy management to transform the way health care is delivered for those with polychronic conditions. This innovative model of care has been shown to dramatically improve patient outcomes and quality of life while reducing medical costs across the health care continuum. Based in Nashville, Tennessee, and privately held by Frist Cressey Ventures, TPG Capital, Norwest Venture Partners, as well as other leading strategic and financial investors, Monogram Health has numerous value-based partnerships with leading health plans and risk-bearing providers to care for patients across 34 states and all insurance products.