Massachusetts-based physician organisation InterWell Health has announced the closing of a Series B funding round worth US$46 million. The company claims this funding round will bring together more than 1,000 nephrologist investors representing 55 different nephrology practices and 31 US states.
“We are excited to join InterWell Health, as its highly effective business model puts physician leaders across the country at the forefront of driving rapid adoption of clinically-sound best practices and innovation in the care of renal patients,” said Timothy Pflederer, president of the Illinois Kidney Disease and Hypertension Center (Peoria, USA). “As physicians, we are committed to the long-term care of these patients, and InterWell Health positions us to truly transform care models that improve patient outcomes and quality of life.”
InterWell Health was founded in December 2019 with initial funding of US$20 million from 16 nephrology practices and leading American kidney care firm Fresenius Medical Care North America (FMCNA). And, through its network of more than 1,400 nephrologist network participants, and its partnership with FMCNA, InterWell Health says it deploys a broad scope of data-driven and clinically-proven tools to help identify and manage chronic disease within the renal patient population.
In March 2020, InterWell also appointed George Hart (Charlotte, USA) and Terry Ketchersid (South Boston, USA)—both of whom have close to 30 years of experience in the nephrology field—as its co-chief medical officers.
“We partner with Fresenius Health Partners, the national leader in renal value based care, to provide clinical work flows, care team support, and robust data analytics that support our network physicians who direct the care of renal patients across the full continuum of care,” said Hart. “This combination sets us apart from the competition and positions us as best in class.”
“This offering expands our investor group of premier, visionary nephrology practices across the country,” said Kim Sonnen, president of InterWell Health. “We are poised to deliver extraordinary value to patients, providers, and payors under value-based arrangements that support individuals living with chronic kidney disease. Our hallmark is the physician investment, leadership, and engagement that drives the InterWell Health business model.”