Aledade gets $123M to expand

Value-based care company Aledade has landed $123 million in funding to expand its tech-driven ACO services.

"When we started Aledade nearly a decade ago, we made a bet that if we empowered primary care doctors with the right insights, technology, and contracts that paid for value, we could improve patient outcomes, cut wasteful spending, and create a scalable business model for these practices and Aledade to thrive," said Farzad Mostashari, MD, CEO and co-founder of Aledade, in a June 6 news release. "With this financing, Aledade is extremely well-positioned in this market environment to accelerate our work to meet patients where they are, especially in Medicare Advantage, and seize new opportunities to expand wraparound patient care services."

The series E funding was led by OMERS Growth Equity and also included Fidelity Management & Research Co.

Aledade, based in Bethesda, Md., has nearly 150 value-based care contracts, including 98 for Medicare, that cover more than 1.7 million patients and $17 billion in total healthcare spending.

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