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In-Home Kidney Disease Management Company, Monogram, Raises $375 Million
Monogram Health, an in-home care management service for patients with polychronic conditions, including kidney and end-stage renal disease, announced it raised $375 million from substantial investors to support its rapid growth. Key partners from the most recent funding include CVS Health, Cigna Ventures, and Humana.
Capitalizing On In-Home Care Management
So far, Monogram is available in 34 states across the U.S. after launching in 2019. The company aims to provide in-home care management services for patients with polychronic conditions, particularly those related to kidney diseases.
The tech-based company accomplishes this with several curated programs tailored to patients’ needs that span from AI-integrated risk identification to in-home visits from healthcare professionals. Monogram boasts increased home dialysis rates and decreased readmission rates compared to national averages.
The most recent $375 million in funding would allow monogram to continue the rapid and widespread deployment of its technology and services across the nation. After the company raised $160 million in Series B funding in June 2021, its total raised funding amounts to $557 million.
Some of biotech’s heaviest hitters are on board with the company’s program, with investors like CVS Health, Cigna Ventures, Humana, TPG Capital, Heritage Group, and many more.
President and Co-Managing Partner of TPG Capital, Todd Sisitsky, said, “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.”
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Increased Traffic in the In-Home Kidney Disease Care Space
Monogram’s success has been meteoric so far, but it is not the only company working in the tailored kidney disease care arena. Several companies are working to accomplish the same goal of providing exceptional care without the need for frequent hospital visits.
Somatus is one of Monogram’s biggest competitors in the space, with its strategy to provide kidney care management services in both inpatient and outpatient settings. In February last year, the company raised $325 million in Series E financing, raising Somatus’ total valuation to over $2.5 billion.
Other significant moves in kidney care include Interwell’s three-way merger with Cricket Health and Fresenius Health in August last year to form a massive $2.4 billion value-based kidney care company. Strive Health from Denver, Colorado, is also in the competition after it raised $140 million in March 2021 for its kidney care platform.
Monogram Health is working hard to lead the pack in transforming kidney care in the U.S., and its most recent $375 million funding is a significant milestone in that process. With its rapid deployment already, the company will be even more exciting to track going forward with even more capital at its disposal.©www.geneonline.com All rights reserved. Collaborate with us: firstname.lastname@example.org