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Thyme Care, a value-based most cancers care firm, has secured $97 million in Collection D funding to scale its platform to extra sufferers, it introduced on Thursday.
Nashville, Tennessee-based Thyme Care, based in 2020, companions with well being plans, employers and risk-bearing suppliers to help sufferers battling most cancers. It gives care navigation companies, expertise and information insights and therapeutic interventions. The corporate helps sufferers perceive their prognosis, discover a most cancers physician and obtain medical care between appointments. Sufferers additionally acquire entry to a workforce of suppliers, nurses and useful resource specialists. Its companies can be found to eight million folks throughout all 50 states.
The Collection D spherical included participation from CVS Well being Ventures, Foresite Capital, a16z Bio + Well being, Harmony Well being Companions, City Corridor Ventures, AlleyCorp, Frist Cressey Ventures, Morgan Well being, Humana, Texas Oncology and Memorial Hermann Well being System. In complete, Thyme Care has raised $275 million.
“Employers more and more establish most cancers as a high driver of their well being care spend. On the identical time, they care deeply about providing their staff entry to high-quality, customized most cancers care – given the heavy burden {that a} prognosis locations on sufferers and their households,” stated Dan Mendelson, CEO of Morgan Well being, in an announcement. “Thyme Care can steadiness these wants and is already making early progress with Fortune 500 firms. They’ve demonstrated higher coordination of affected person care, improved outcomes and lowered prices.”
With the financing, the corporate is increasing its payer contracts to new geographies, rising its oncology partnerships, scaling to extra employers and well being techniques and investing in AI and expertise, in line with Dr. Brad Diephuis, Thyme Care president and COO.
When requested about Thyme Care’s exit technique, Diephuis stated the corporate’s purpose is to create a “generational firm” that adjustments how most cancers care is supplied and financed.
“Whether or not we keep personal or go public down the road, our North Star doesn’t change: construct infrastructure that delivers a greater expertise, higher outcomes, and decrease prices for sufferers, suppliers, and payers,” he stated.
As of January, greater than 18 million folks within the U.S. have a historical past of most cancers, in line with the American Most cancers Society. By 2035, that quantity is anticipated to high 22 million. Most cancers can be the biggest driver of healthcare prices for employers, in line with the Enterprise Group on Well being. On the identical time, federal funding for most cancers analysis is being reduce.
“As federal funding tightens and healthcare applications face elevated scrutiny, there’s mounting stress to regulate prices whereas nonetheless delivering high-quality care,” Diephuis stated. “On the identical time, we’re seeing a broader shift towards fashions that carry extra accountability and coordination to continual care administration. That’s precisely the place Thyme Care suits in. … Our mannequin reduces avoidable ER visits, improves therapeutic decision-making, and helps sufferers keep on observe between visits.”
Different firms that present most cancers care help embrace OncoveryCare and Maia Oncology.
Picture: Richard Drury, Getty Photographs
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