Lumerisa value-based care strategy, technology and operations firm, announced it raised $100 million in a capital raise led by Deerfield Management.
Endeavor Health joined as a new investor and the round included BlueCross BlueShield Venture Partners, Sandbox Industries, Kleiner Perkins and JDLinx.
WHAT ARE YOU DOING
The Missouri-based company strategizes with health systems and other care providers to move their practices to a value-based care system through technology-driven enablement and care provider services.
The funds will be used to support the expansion of the company’s supplier partnerships.
“Lumeris has demonstrated differentiation through best-in-class technology and the ability to anticipate and manage risk,” Vincent Mellet, partner at Deerfield Management, said in a statement.
“His long-standing ownership and management of a Medicare Advantage plan that has received a five-star rating for the past three years is a testament to his deep knowledge of the healthcare landscape and his commitment to providing high-quality patient care.” “.
MARKET SNAPSHOT
Lumeris has announced numerous collaborations in recent years, including a long-term partnership with Stanford Health Care in 2019 to expand Stanford Health Care Advantage, a Medicare Advantage plan in Northern California, and help the system of care transition to a value-based care delivery model.
A year later, the company partnered with Northeast Georgia Health System to enhance the provider’s population health capabilities.
Earlier this year, Lumeris announced a strategic partnership with Denver-based Integrated Physician Network, a clinically integrated network of more than 300 professionals and physicians focused on improving practices and the delivery of value-based care.
The St. Louis-based company expanded its executive leadership team in recent years by naming Jean-Claude Saghbini as chief technology officer. Saghbini previously served as CTO of Wolters Kluwer Health.
Lumeris added Julie Hammes as senior vice president of people and culture and Umar Farooq, who previously served as an executive at Centene Corp. and is now president of Essence Healthcare, a subsidiary of Lumeris’ Medical Advantage Plan.
Other companies looking to advance value-based care delivery include a healthcare data and analytics company. Reveleer, which announced it secured an investment of more than $65 million in February, and Maryland-based health technology company Aledade, which works with primary care providers to create technology-based accountable care organizations and earned a huge investment of 260 million dollars in June of last year. .