ImpactAlpha, November 22 — DispatchHealth has raised $330 million in a new debt and equity investment round. Silicon Valley Bank and K2 HealthVentures led the debt portion. Existing investors including Humana, Oak HC/FT, Echo Health Ventures and Questa Capital, alongside new investors such as Adams Street Partners, Blue Shield California and Pegasus Tech Ventures backed the equity portion. The round brings the company’s total raised to over $700 million.
DispatchHealth launched in 2013 to reinvent doctors’ house calls as a way to cut back on unnecessary emergency room visits and costs, particularly for low-income people and aging baby boomers. Roughly one-third of hospitalized patients over the age of 70, and more than half over the age of 85, leave the hospital more debilitated than when they arrived, says DispatchHealth.
DispatchHealth delivers rapid-urgent care for non-life threatening illnesses and injuries. The company says its services are available to more than three out of every four Medicare Advantage members in all 50 U.S. states.
The company is aiming to build a last-mile healthcare platform “to deliver the complexity of care that we do deliver – everything from the logistics, to the clinical support, to the coordination with others in the ecosystem,” said founder Mark Prather.