Aledade, a Bethesda, Md. – based physician enablement company, closed a $123m Series E funding.
The round was led by returning investor Omers Growth Equity with participation from Fidelity Management & Research Company and other current investors.
The company intends to use the funds to invest in value-based care for more seniors covered by Medicare Advantage (MA) and innovation that improves patient care and increases medical cost savings, including expanded offerings through its new health services subsidiary, Aledade Care Solutions (ACS).
Led by Farzad Mostashari, MD, CEO and co-founder, Aledade is a physician enablement company helping independent practices, health centers, and clinics deliver care to their patients through its proven, scalable model, which includes data analytics, user-friendly guided workflows, health care policy expertise, payer relationships, and integrated care solutions.
Aledade now partners with more than 1,000 independent primary care practices, including more than 140 federally-qualified health centers, comprising more than 11,000 physicians in 36 states and the District of Columbia. Its nearly 150 value-based care contracts, including 98 Medicare contracts, collectively cover more than 1.7 million patients and $17 billion in total health care spending. In Medicare Advantage contracts, specifically, the company increased the number of patients served by 85,000 in 2021, bringing the total to more than 200,000 patients covered by MA who receive care through an Aledade ACO.