In-home care provider DispatchHealth scored a whopping $200 million in Series D financing. Tiger Global led the round with participation from Alta Partners, Echo Health Ventures, Humana, Oak HC/FT and Questa Capital.
This investment bumps the company’s valuation to $1.7 billion, making it part of the ever-expanding unicorn club. In June the company closed its $138.5 million Series C funding.
WHAT IT DOES
Patients are able to request an at-home urgent care medical visit through Dispatch either by calling or through the app or website.
Clinicians are then scheduled to arrive at the patient’s home within two hours. The company sends two medical professionals to each visit, typically a physician assistant or nurse practitioner and a DispatchHealth medical technician.
The company boasts of being able to treat anything that an urgent care treats including anxiety, flu, pneumonia and urinary tract infections.
WHAT IT’S FOR
The company plans on putting the money towards expanding its in-home care platform to 100 markets. It also plans to make sure its Advanced Care line is available across the U.S.
"We've created the most complete platform that solves all aspects of delivering health care to the home including clinical logistics, care coordination and the delivery of caring medical professionals, all while improving health outcomes and lowering costs," Dr. Mark Prather, CEO and cofounder of Dispatch Health, said in a statement.
"We anticipate the care continuum to continue to move into the home and we expect our platform to enable the movement of that $140 billion marketplace."
MARKET SNAPSHOT
This isn’t the only company to provide on-demand house visits. Heal has built an app that helps users coordinate clinician house calls and telehealth visits. The platform has grown over time to handle doctors’ backend administrative work and support personal health record tools. In July it landed $100 million in funding from Humana.
Just a few months ago, direct-to-consumer virtual health provider Ro acquired in-home healthcare company Workpath in an effort to supply on-demand in-home care services. Today the company announced it was using Workpath’s tech to help it roll out an in-home COVID-19 vaccination program.
