NEW YORK, April 11, 2022 (GLOBE NEWSWIRE) -- Vytalize Health, a leading value-based care platform for seniors, announced it has closed over $50 million in Series B financing led by Enhanced Healthcare Partners. The company will use the new capital to continue investing in its care delivery infrastructure, partner with Medicare Advantage and commercial plans, and expand its team. The round was also joined by Series A lead Kittyhawk Ventures, as well as Kawn Ventures, North Coast Ventures, and other existing investors.
"Our goal is to strengthen the special relationship between patients and their primary care doctors, which becomes the foundation for realizing the full potential of value-based care," said Vytalize Health CEO Faris Ghawi. "We're witnessing new frontiers that were previously unimaginable in healthcare, and we're excited to enable our doctors to be at the cutting edge of this next chapter."
Vytalize Health has grown its patient base 150% year-over-year and is now partnered with 280 primary care practices across 16-states. The company's all-in-one, vertically integrated solution for value-based care delivery is responsible for $2 billion in medical spending. The company is expanding into new markets while increasing the concentration of practices in existing ones and has begun contracting with regional and national Medicare Advantage plans.
"We have been actively searching for the right Medicare at-risk platform for the past 18 months. We are very excited to back Faris and the team as they continue to activate value-based care across the healthcare market," said Enhanced Healthcare Partners General Partner Samarth Chandra. "Vytalize Health and its network of practices have repeatedly demonstrated they can improve the quality of care for patients while also better managing healthcare spending overall."
Vytalize Health started as a Medicare-focused primary care practice in New York in 2014. The company developed a vertically integrated solution combining a risk-bearing entity, virtual and in-home clinic, and broad technology platform, which they then began offering to other primary care practices in 2017. Today, the company leverages this dynamic approach to support physicians caring for 130,000 senior patients. Last year, Vytalize acquired patient communication company MedPilot to allow them to manage the last mile of patient engagement. The company is now integrating the rest of the downstream network, including hospitals, specialty networks, ancillary providers, and digital health companies, to streamline the delivery ecosystem from end to end.
MTS Securities, LLC, an affiliate of MTS Health Partners, L.P., served as the exclusive placement agent.
About Vytalize Health
Vytalize Health is a leading value-based care platform helping primary care doctors strengthen relationships with their patients through data-driven, holistic, and personalized care. Vytalize provides an all-in-one solution including value-based incentives, smart technology, and a virtual clinic that enables small and large independent practices to succeed in value-based care arrangements. Vytalize's care delivery model transforms the healthcare experience for more than a hundred thousand Medicare beneficiaries across 16 states by helping them manage their chronic conditions in collaboration with their doctors.
Learn more at www.vytalizehealth.com or email info@vytalizehealth.com. For press inquiries email Matt@vytalizehealth.com.
About Enhanced Healthcare Partners
Enhanced Healthcare Partners is a leading healthcare-focused private equity firm dedicated to making minority and majority investments in founder and entrepreneur-led lower middle-market companies. The EHP team has managed approximately $1 billion in equity capital and is comprised of professionals with deep healthcare, operations, consulting and investment management experience. The firm seeks to invest in companies between $50-$250 million in enterprise value, driving deep partnerships with management and founders to catalyze growth and build great organizations. For more information, visit enhancedhealthcare.com.
Learn more at www.enhancedhealthcare.com or email ehp@enhancedhealthcare.com
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