Monogram Health, a benefit management and care delivery company attempting to transform care for individuals with chronic kidney disease (CKD) and end-stage renal disease (ESRD), has announced the closing of a Series B funding round worth US$160 million. The funding round was led by TPG Capital, and also includes existing investors Frist Cressey Ventures and Norwest Venture Partners, as well as Humana Inc, and other notable national and regional strategic investors, according to a Monogram Health press release.
This investment will be used to fuel the company’s continued expansion as the leading solution for improved kidney care in the USA—and, in conjunction with the investment, Todd Sisitsky, co-managing partner of TPG Capital who co-leads the platform’s healthcare franchise, has joined the Monogram Health Board of Directors.
“Monogram is transforming one of the most complex and underserved areas of healthcare,” said Sisitsky. “As someone who has supported a family member through ESRD, I witnessed first-hand the challenges and deficiencies that Monogram is addressing. I could not be more optimistic about the future of the company and the lives it is changing every day.”
More than 10% of the US adult population suffers from CKD today, though many cases go untreated until their final stages due to the shortcomings of existing care models, according to a Monogram Health press release. But, by leveraging its technology and managed services platform, the company’s clinical team of nurses, nephrologists, dieticians, pharmacists, and social workers partner closely with a patient’s entire care network to help them understand their condition, slow disease progression, and manage their unique care needs.
Monogram Health focuses exclusively on managing CKD and ESRD at home. It partners with health plans to provide their members with an evidence-based renal care model of clinical managed services, including complex case and disease management, utilisation management, and medication therapy management, to improve patient outcomes and quality of life while “dramatically reducing costs for the healthcare system”.
“Welcoming TPG Capital alongside noted national and regional strategic investors further validates our industry-leading kidney model of care,” said Senator Bill Frist, Monogram Health’s board chairman. “We look forward to working with the TPG team as Monogram further solidifies its role as the preeminent leader in personalised, compassionate, and evidence-based kidney care for patients.”
“Despite more than 20% of all Medicare spending going toward Americans with kidney disease, the population continues to grow and experience often dismal health outcomes and quality of life,” added Monogram Health CEO Mike Uchrin. “Our model of care dramatically improves health outcomes and reduces spending by delivering the care and services these individuals truly need and want, right in their own homes. One by one, our patient successes are adding up to significant value for our partners and driving accelerated demand for our services.”
Kendall Garrison, partner at TPG Capital, said: “Monogram’s integrated care model combines data-driven solutions and in-home specialist care to deliver better outcomes for patients at a lower total cost. We are excited to partner with Senator Frist, Mike, and the rest of Monogram’s industry-leading team to support the company’s next phase of growth.”