Pearl Health Raises $75M to Develop Value-Based Treatment Technology Platform

Pearl Health, which offers a technology platform for cost-based primary care, announced on Thursday that it has raised $55 million in Series B funding. said it also expects a $20 million line of credit in addition to the capital increase.

The round was led by Andreessen Horowitz and Viking Global Investors and featured investors such as AlleyCorp and SV Angel. The company announced $18 million in Series A in September 2021.

WHAT ARE THEY DOING

Peal offers a technology platform targeted at primary care providers participating in the Medicare ACO REACH model. It includes data visualization and recommendations so doctors can see which patients may need more support, such as those with multiple chronic conditions or who have recently been discharged from the hospital.

The startup’s tools also aim to transform patient information into easier-to-understand reports and track important metrics such as readmission rates and annual wellness visits by patients.

Pearl said it will use the proceeds from the Series B fundraiser to create new partnerships, add new offerings, and invest in research and development.

“We are grateful for the support of such valued investors as we continue to build technology that enables physicians to better care for their patients and helps our healthcare system move from volume to value,” said Michael Copco, CEO of Pearl Health. “This latest round of funding, combined with our previous investments, will enable us to expand our network and accelerate the development of innovative solutions that put providers at the center of healthcare delivery and cost management.”

MARKET REVIEW

Early last year, the Centers for Medicare and Medicaid Services announced that changing Medicare’s direct contract model to a health equity-focused accountable health care organization model. A newly developed arrangement called ACO’s Equity, Access and Public Health Implementation Model (REACH) launched this year with 132 participants.

CMS wants all traditional Medicare beneficiaries accountable health care relationship by 2030. ACOs are groups of doctors, hospitals, and other providers that work together to provide coordinated care for Medicare patients to avoid duplication of care and medical errors.

Other companies looking to provide support and technology services to value-added healthcare practitioners include UpStream Healthcare, which recently raised $140 million in a Series B funding round and Aledade, which raised $123 million in a Series E round last year.

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texasstandard.news contributed to this report.

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