Value-based care company Lumeris has completed a $100 million equity capital raise to support the expansion of its provider partnerships.
St. Louis-based Lumeris serves as an operating partner for health systems, including in the ACO REACH program, by providing end-to-end services and technology to help them be successful in managing downside risk.
Recently announced partnerships include deals with Illinois-based Endeavor Health (formerly NorthShore–Edward-Elmhurst Health) and Integrated Physician Network (iPN), a clinically integrated network serving the Denver area,
The funding round was led by Deerfield Management, a longstanding lender, and new investor Endeavor Health. Existing investors Kleiner Perkins, Sandbox Industries, BlueCross BlueShield Venture Partners and JDLinx (an investment company owned by John Doerr) participated in the round.
“Our proven track record in enabling health systems and physician groups to manage all value-based populations, including Medicare Advantage, Traditional Medicare, Commercial, and Medicaid, has consistently delivered high-quality outcomes while effectively managing the total cost of care," said Mike Long, Chairman and CEO of Lumeris, in a statement. "This recent investment will further enable us to meet the growing demand from our provider partners to adopt value-based models."
Privately held Lumeris also owns and operates Essence Healthcare, a Medicare Advantage plan.
