Ascension, CVS Health Ventures back kidney care company in $166M round

Ascension Ventures, part of St. Louis-based Ascension, and CVS Health Ventures participated in a $166 million funding round May 31 for Strive Health, a tech-enabled kidney care provider that focuses on value-based care.

The company said it plans to use the funds to expand into new markets and invest in its existing partnerships with health systems, payers and medical groups. Strive Health has 550 employees and serves 80,000 patients across 30 states.

"Strive's focus on value-based care aligns with CVS Health's strategy to address the challenges within the U.S. healthcare system," said Vijay Patel, managing partner of CVS Health Ventures, in a news release. "Their differentiated approach has improved health outcomes for patients and driven success for all their customers, including their more than 600 nephrology partners."

Venture firm NEA led the series C funding round.

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