AllyAlign Health, a Richmond, VA-based developer and administrator of Medicare Advantage special need plans that benefit long-term care (LTC) providers, closed a $10m strategic funding.
The round, which brought the total capital raised to over $41m, was led by McKesson Ventures, with participation from existing investors Heritage Healthcare Innovation Fund, Health Enterprise Partners and the LinkAge Fund.
The company intends to use the funds to accelerate growth into assisted living facilities, memory care facilities and independent living facilities as well as support Medicare Advantage patient-centered care models.
Led by Will Saunders, founder and chief executive officer, AllyAlign Health partners with long-term care providers to improve patient care for geriatric populations and to help providers thrive under value-based care. It provides the infrastructure, clinical protocols, proprietary technology and expertise to manage Medicare Advantage (MA) institutional special needs plans (I-SNPs), chronic care special needs plans (C-SNPs) for dementia, and dual-eligible special needs plans (D-SNPs).
Today, the company manages plans in 17 states with more than 10,000 members.